Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    41 Montrose Terrace Irvington, NJ 07111

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $699,000

    3-Three Story, Multi-Family - Irvington Twp., NJ

    Property size:
    2,500 SF
    Lot size:
    0.06 Acres
    Added:
    Mar 19, 2026
    Days on Market:
    13
    Last Refresh:
    Mar 31 at 6:06 pm

    Property Features for 41 Montrose Terrace

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    8
    Bathrooms
    5
    Rooms
    Basement, Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5, Kitchen, Living Room, Master Bedroom
    Parking features
    Parking Lot
    Patio and Porch features
    Porch
    Interior features
    Blinds, Carbon Monoxide Detector, Fire Extinguisher, High Ceilings, Shades, Smoke Detector, Track Lighting, Wood Floors
    Exterior features
    Curbs, Enclosed Porch(es), Privacy Fence, Sidewalk
    Fencing
    Fenced, Privacy
    Basement Y/N
    1
    Standard status
    Active
    Size
    2,500 SF
    Lot size
    0.06 Acres

    Taxes and HOA fees

    TaxYear
    2025
    TaxAnnualAmount
    10345

    Building Details

    Year built
    1911
    Number of units
    2
    Building materials
    Vinyl Siding
    Roof type
    Asphalt, Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    WILLIAM BARRAZA

    Listing agent WILLIAM BARRAZA

    Listing office KELLER WILLIAMS - NJ METRO GROUP 237 LORRAINE AVE, Montclair, NJ

    Listing date Mar 19, 2026

    MLS# 4015598 Listing URL

    Copyright © 2026 Garden State MLS, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Renovated Multi-Family Home, Irvington

    This renovated multi-family home in Irvington features two legal apartments and one bonus apartment in the basement. Each apartment includes modern kitchens, new bathrooms with contemporary fixtures, and ceilings that create an inviting atmosphere. The property includes a private shared yard, secured by fencing. The total monthly rental income is $7,200. The basement and first-floor apartments are occupied at closing. The second-floor apartment will be vacant by March 31st. The property size is 2,500 square feet and the lot size is 0.06 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Multifamily properties

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Food Market Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Irvington
    County
    Essex
    State
    New Jersey
    Longitude
    -74.21649
    Latitude
    40.7373

    Nearby Similar for Sale

    • $1,799,900
      7,625 SF

      Prime Corner Commercial Investment Opportunity

      Income-producing property with six fully leased retail storefronts in Irvington.
      721-731 Chancellor Ave, Irvington Twp., NJ 07111-2951
      View Details
    • $599,001

      Irvington Triplex with Garage Parking

      Meticulously maintained multi-family home with income potential and parking.
      922 Grove St, Irvington Twp., NJ 07111-4311
      View Details
    • $549,000

      Irvington Two-Family Home For Sale

      Well-maintained two-family home with income potential in Irvington, NJ.
      155 Myrtle Avenue, Irvington, NJ 07111
      View Details
    • $399,900
      2,300 SF

      Mixed-Use Investment Opportunity in Irvington

      Mixed-use property with commercial storefront and residential apartment.
      357 16th Ave, Irvington Twp., NJ 07111-4506
      View Details
    • $649,999

      Renovated Income-Producing Multi-Family Property

      Turn-key, fully occupied 3-unit property with 8 bedrooms and 3 bathrooms.
      97 Hopkins Pl, Irvington Twp., NJ 07111-4305
      View Details
    • $797,000

      Renovated Multi-Family Home, Irvington Twp.

      Renovated 2-family home with modern design and spacious layouts.
      10 Bruen Ave, Irvington Twp., NJ 07111-3513
      View Details
    • $599,988

      Irvington Two-Family Turnkey Investment

      Turnkey two-family home in Irvington, ready for immediate income.
      157 Myrtle Ave, Irvington Twp., NJ 07111-3358
      View Details
    • $70,000
      2,000 SF

      Established Business in High-Traffic Area

      Turnkey business opportunity with high visibility and steady customer flow.
      1436 Springfield Ave, Irvington Twp., NJ 07111-5559
      View Details
    • $1,499,999

      Irvington Industrial Investment Opportunity

      Prime industrial property in Irvington, currently operating as an auto facility.
      734-736 GROVE ST, Irvington, NJ 07111
      View Details
    • $685,000

      Mixed-Use Property in Irvington, NJ

      Versatile property with storefront, residential unit, and additional lot.
      724-728 Grove St, Irvington Twp., NJ 07111-3728
      View Details
    • $825,000
      3,252 SF

      Irvington Multi-Family Home For Sale

      Three-story, 12-bed, 6-bath multi-family home in Irvington Twp., NJ.
      420 21St St, Irvington Twp., NJ 07111-5629
      View Details
    • $599,000

      Renovated Multi-Family Home in Irvington

      Renovated two-family home with modern finishes and strong rental appeal.
      112 University Pl, Irvington Twp., NJ 07111-2637
      View Details

    FAQs

    What type of property is this?
    Multifamily property - Meticulously renovated multi-family home with three apartments and shared yard.
    Where is this multifamily property located?
    The property is located at 41 Montrose Terrace Irvington, NJ.
    What is the asking price?
    The asking price for this property is $699,000.
    What are key features of this property?
    This property features: Fully renovated multi‑family home with 3 apartments (2 legal, 1 bonus).; High rental income potential: $7,200 per month.; Modern kitchens and bathrooms in each apartment.
    (973) 783-7400
    We can help!
    Listing Contact
    WILLIAM BARRAZA
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!