Residential Income Property with
New
For Sale
$1,299,999
10 Kips Rdg Unit C0010, Verona, NJ 07044
Four-level residence offers an elevator, a two-car garage, multiple bedroom suites, and outdoor deck space.
Property Size3,700 SF
Price / SF$351.35
Days on Market2
Property Features for 10 Kips Rdg Unit C0010
General Information
Standard status
Active
Size
3,700 SF
Total Parking Spaces
2
Elevators
Yes
Property subtype
Commercial
Additional Details
Multifamily Units
1
Amenities
twin curved stairs
sunken living room
floor to ceiling windows
deck
private deck
reading nook
office
library
theatre room
walk-in closets
soaking tub
dual vanities
Listing Agency:
West of Hudson Real Estate
(201) 857-8777
Listed By:
Leslie Kunkin ()
Source:
Fortuneluxuryrealty
Added: Oct 14
Changed: Oct 15
Last Checked: Oct 15 at 2:44AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of West of Hudson Real Estate
Investment Insights
Based on property information with market context.
Set within the 16-unit Kips Ridge enclave, this four-level residence offers more than 3,700 square feet of living area and elevator access to every floor. The main level features a two-story living room with floor-to-ceiling windows, a formal dining room, an eat-in kitchen, and sliders to a large deck. A primary suite is also located on this floor. Two additional bedrooms have en suite baths, while upper-level space can accommodate an office, library, or another bedroom suite. The lower level includes a sitting area and a substantial multipurpose room, with direct access to the two-car garage.
Downtown Montclair is 0.8 of a mile away, with restaurants, museums, shops, and live shows. The residence also includes a private deck off the upper-level reading nook.
Downtown Montclair is 0.8 of a mile away, with restaurants, museums, shops, and live shows. The residence also includes a private deck off the upper-level reading nook.
Key Highlights
- Part of Kips Ridge, a 16‑unit residential enclave
- More than 3,700 square feet arranged across four levels
- Elevator serves every level
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$56,899
Cap Rate
4.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,137,980
$1.1M
Cap Rate 7%
$812,843
$812.8K
Cap Rate 9%
$632,211
$632.2K
Market Conditions
NOI Build-Up for 3,700 SF
Gross rent
$111.0K $30.00/SF
− Vacancy
−$7.5K −$2.04/SF
EGI
$103.5K $27.96/SF
− OpEx
−$46.6K −$12.58/SF
NOI
$56.9K $15.38/SF
Area
Essex County, NJ
Vacancy
6.80%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,137,980
Cap Rate 7%
$812,843
Cap Rate 9%
$632,211
Alternative Uses
Best Use
Apartment 5plus
$812.8K
$711.2K – $948.3K
NOI $56,899 @ 7.0% cap · market cap 4.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$966.1K
$845.4K – $1.13M
NOI $67,630 @ 7.0% cap · market cap 5.20%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,069
Businesses Nearby
Explore this area
Business Placement
Demographics for 07044, NJ
14,572
Population
5,997
Households
2.4
Avg Household Size
44
Median Age
68%
College-Educated
98%
High-School Grad
2.8 sq mi
ZIP Area
5,204
Density / Sq Mi
$159,044
Median Household Income
$85,852
Median Earnings
$2,125
Median Rent
$595,000
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Four-level residence offers an elevator, a two-car garage, multiple bedroom suites, and outdoor deck space.
Where is this residential income property located?
The property is located at 10 Kips Rdg Unit C0010 Verona, NJ.
What is the asking price?
The asking price for this property is $1,299,999.
What are key features of this property?
This property features: Part of Kips Ridge, a 16‑unit residential enclave; More than 3,700 square feet arranged across four levels; Elevator serves every level
