Description
Prime Mixed-Use Investment Opportunity. Nestled just off the bustling Bloomfield Avenue, this exceptional mixed-use property offers a strategic location directly across from The MC Hotel. Located in the heart of Montclair's thriving artistic community, attracting a steady stream of visitors and locals alike. Three pristine and fully renovated residential apartments currently generate a monthly income of $6,500. Ground floor office space tenant just vacated which was paying $3500 per month. This property is perfect for an owner occupant to move into the commercial space on the ground floor and collect rent from the three residential apartments above. A new owner may also convert the bottom floor to residential space to live in or rent out (see below). The ground-floor commercial space, recently enhanced with comprehensive interior improvements, stands ready for occupancy or offers the potential for residential conversion, with APPROVALS secured for the next three years. Recent Upgrades: Significant capital improvements include a new roof installed in 2018 at a cost of $30,000 and a brand-new boilers added in 2025 for $17,000, ensuring reduced maintenance concerns for the foreseeable future. The owner has invested an additional $160,000 in upgrading the interiors and mechanical elements of all units for the residential units (3) and commercial space on the ground floor (office 2019). Parking is available in the municipal lot across the street.
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5BEDS
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N/AACRES
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4BATHS
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11/2 BATHS
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4,650SQFT
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$278$/SQFT
School Ratings & Info
Description
Prime Mixed-Use Investment Opportunity. Nestled just off the bustling Bloomfield Avenue, this exceptional mixed-use property offers a strategic location directly across from The MC Hotel. Located in the heart of Montclair's thriving artistic community, attracting a steady stream of visitors and locals alike. Three pristine and fully renovated residential apartments currently generate a monthly income of $6,500. Ground floor office space tenant just vacated which was paying $3500 per month. This property is perfect for an owner occupant to move into the commercial space on the ground floor and collect rent from the three residential apartments above. A new owner may also convert the bottom floor to residential space to live in or rent out (see below). The ground-floor commercial space, recently enhanced with comprehensive interior improvements, stands ready for occupancy or offers the potential for residential conversion, with APPROVALS secured for the next three years. Recent Upgrades: Significant capital improvements include a new roof installed in 2018 at a cost of $30,000 and a brand-new boilers added in 2025 for $17,000, ensuring reduced maintenance concerns for the foreseeable future. The owner has invested an additional $160,000 in upgrading the interiors and mechanical elements of all units for the residential units (3) and commercial space on the ground floor (office 2019). Parking is available in the municipal lot across the street.
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Data last updated 2025-05-12T16:46:47.637.