70 2Nd StSouth Orange, NJ 07079

Property Details for 70 2Nd St

Year built

1889

Property type

Investment properties

Property subtype

Multifamily properties

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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