70 2Nd StSouth Orange, NJ 07079

Property Details for 70 2Nd St

Year built

1889

Property type

Residential income homes

Description

This exceptional redevelopment opportunity encompasses two properties at 70-74 2nd Street, South Orange, NJ, a highly desirable Essex County location. Offered at $3,500,000, this fee-simple portfolio presents a unique chance to capitalize on a prime location just a block from the Midtown Direct train, providing convenient access to New York City. The property consists of three units across two buildings, totaling 20,000 square feet on a combined lot measuring 160.08 x 125 feet. Currently vacant, the properties offer a blank canvas for a visionary developer. One building is a 2-bedroom, 1-bathroom single-family home, and the other is a 6-bedroom, 4-bathroom multi-family dwelling. Both were fully renovated, one in 2019 and the other in 2022. The properties are zoned R-B, and while "as of right" privileges exist in this section of Academy Heights, buyers must conduct their own due diligence and secure necessary zoning approvals from the municipality. A survey is available for review. Proof of funds is required before scheduling a showing. This is a rare chance to acquire a significant multifamily portfolio in a thriving New Jersey community known for its excellent schools, vibrant downtown, and diverse amenities. The price per unit is $1,166,666.67. The buildings are four stories each, built in 1889. The APN is 0719_2004_7. The properties are currently vacant with an occupancy date of July 8, 2024.

Location Insight

City

South Orange

County

Essex

State

New Jersey

Latitude

40.7437

Longitude

-74.2594

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