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120 Milligan Pl South Orange, NJ 07079

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For Sale
$1,295,000

Turnkey rental portfolio near Seton Hall and NYC transport.

Lot size:
0.17 Acres

Property Features for 120 Milligan Pl

General Information

Property type
Multi Family
Standard status
Active
Lot size
0.17 Acres

Building Details

Year built
1854

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Listing Contact
Katherine Elliott
Source: Elliman

Listing Agent: Katherine Elliott

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Overview

Legal Boarding House & Victorian Gem

Two adjacent income-generating properties are available as a turnkey rental portfolio. Located steps from Seton Hall University and NYC Trains, 120 & 122 Milligan Place are offered together. The combined income is approximately $23,500 per month. 120 Milligan is a legal boarding house that is fully occupied, offering rental flexibility to individuals or groups. The first floor includes a 4-bedroom, 1 bath unit with a spacious kitchen, dining area, and private entrance. There is also a separate studio apartment with a kitchenette, full bath, and its own entrance. The second and third floors contain 9 individually rental rooms with shared baths and common areas. Shared laundry and off-street parking add to the appeal. 122 Milligan Place is an 11-bedroom, 3-bath Victorian with a wraparound porch, large yard, and in-house laundry. Recent capital improvements have been made. The current lease is $9,500 per month. Both properties are ideally located near Seton Hall and NYC Transport, ensuring consistent demand from a wide variety of tenants.
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 Food Market Grocery & Convenience Store Gym & Fitness Center

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

Location Insight

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  • Local Demand
City
South Orange
County
Essex
State
New Jersey
Longitude
-74.257437
Latitude
40.7437406

FAQs

What type of property is this?
Multifamily property - Turnkey rental portfolio near Seton Hall and NYC transport.
Where is this multifamily property located?
The property is located at 120 Milligan Pl South Orange, NJ.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: - High-Yield Investment: Turnkey rental portfolio generating approximately $23,500/month.; - Prime Location: Steps from Seton Hall University and NYC Trains.; - Legal Boarding House: 120 Milligan is a legal, fully occupied boarding house with rental flexibility.
More about this property
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