Triplex with Two-Car
New
For Sale
$860,000
119 N 17Th St, Bloomfield, NJ 07003
Multi-Family, Bloomfield Twp., NJ
Property Size3,212 SF
Lot Size0.09 Acres
Price / SF$267.75
Days on Market2
Property Features for 119 N 17Th St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
9
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bedroom 9, Bathroom 3, Bedroom 5, Bedroom 8, Bedroom 2, Bathroom 1, Basement, Bedroom 1, Bathroom 2, Bedroom 6, Bedroom 4, Bedroom 7
Parking
4
Directions
Between 1st Avenue and Abington Avenue
Standard status
Active
Size
3,212 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
14409
Utilities
Sewer type
Public Sewer
Heating system
Other (Heating), Steam
Water source
Public
Building Details
Year built
1928
Number of units
3
Roof type
Shingle
Listing Agency:
YOUR TOWN REALTY
(855) 600-2465
Listed By:
RONNIE GLOMB · License #790072
(855) 600-2465
Added: Aug 21
Last Checked: Aug 22 at 11:06AM
MLS# 4048170
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.
Investment Insights
Based on property information with market context.
This 3,212-square-foot triplex, built in 1928, contains three separate apartments. The first-floor unit has three bedrooms and one full bathroom and will be vacant at closing. The second-floor apartment also includes three bedrooms and one full bathroom, while the third-floor unit offers one bedroom and one full bathroom. A two-car garage and driveway parking for approximately four additional vehicles serve the property.
Located at 119 N 17th St in Bloomfield Twp., New Jersey, the property sits on a 0.09-acre lot with public water and public sewer. Building systems include steam heating, a shingle roof, and a basement. The vacant first-floor apartment provides flexibility for an owner-occupant, renovation, or a new lease.
Located at 119 N 17th St in Bloomfield Twp., New Jersey, the property sits on a 0.09-acre lot with public water and public sewer. Building systems include steam heating, a shingle roof, and a basement. The vacant first-floor apartment provides flexibility for an owner-occupant, renovation, or a new lease.
Key Highlights
- 3,212‑square‑foot triplex on a 0.09‑acre lot
- Three apartments: two 3‑bedroom units and one 1‑bedroom unit
- First‑floor 3‑bedroom apartment delivered vacant at closing
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$53,757
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.25%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,075,140
$1.1M
Cap Rate 7%
$767,957
$768.0K
Cap Rate 9%
$597,300
$597.3K
Market Conditions
NOI Build-Up for 3,212 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$82.1K $25.56/SF
− Vacancy
−$5.3K −$1.65/SF
EGI
$76.8K $23.91/SF
− OpEx
−$23.0K −$7.17/SF
NOI
$53.8K $16.74/SF
Area
Essex County, NJ
Vacancy
6.46%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,075,140
Cap Rate 7%
$767,957
Cap Rate 9%
$597,300
Alternative Uses
Best Use
Multifamily LT 5
$768.0K
$672.0K – $896.0K
NOI $53,757 @ 7.0% cap · market cap 6.25%
Second Best
Apartment 5plus
$705.6K
$617.4K – $823.2K
NOI $49,394 @ 7.0% cap · market cap 5.74%
Theoretical Best
Office A
$838.7K
$733.9K – $978.5K
NOI $58,710 @ 7.0% cap · market cap 6.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,331
Businesses Nearby
Explore this area
Business Placement
Demographics for 07003, NJ
52,955
Population
21,692
Households
2.4
Avg Household Size
38
Median Age
49%
College-Educated
93%
High-School Grad
5.3 sq mi
ZIP Area
9,992
Density / Sq Mi
$98,805
Median Household Income
$56,465
Median Earnings
$1,775
Median Rent
$447,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three residential apartments include a vacant first-floor unit and on-site parking for owner occupancy or leasing flexibility.
Where is this triplex located?
The property is located at 119 N 17Th St Bloomfield, NJ.
What is the asking price?
The asking price for this property is $860,000.
What are key features of this property?
This property features: 3,212‑square‑foot triplex on a 0.09‑acre lot; Three apartments: two 3‑bedroom units and one 1‑bedroom unit; First‑floor 3‑bedroom apartment delivered vacant at closing
