579 Nassau St Orange, NJ 07050
Property Features for 579 Nassau St
General Information
- Property type
- Multi Family
- Standard status
- Active
- Lot size
- 0.06 Acres
Building Details
- Year built
- 1889
Source:
Elliman
Listing Agent: Katherine Elliott
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
Turnkey Two-Family Investment Opportunity
This is a turnkey two-family investment opportunity located in the Valley Arts District of Orange, New Jersey. The property was fully renovated in 2021 and is currently generating income. Each unit features 2 bedrooms and 1 full bathroom. The apartments have been updated with modern conveniences and functional design. Both apartments include kitchens with stainless steel appliances, including dishwashers, in-unit stackable washer/dryers, and renovated bathrooms. Refinished hardwood floors and reconfigured layouts enhance the flow and livability. Capital improvements made in 2021 include updated electrical and plumbing systems, new kitchens and baths, and the addition of individual mini-split systems in each unit for heating and cooling. Both units have access to a private backyard. The property is located near local restaurants and approximately two blocks from Highland Place NJ Transit station, providing access to NYC and surrounding areas. The current monthly income is $4,125, with potential rent increase for Unit 1 currently listed at $2,250. Monthly operating expenses are $1,373, resulting in a Net Operating Income (NOI) of $33,024 annually. This income-producing asset with modern systems is suitable for investors or owner-occupants seeking low-maintenance ownership.
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Orange
- County
- Essex
- State
- New Jersey
- Longitude
- -74.2475498
- Latitude
- 40.7646684
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Fully renovated duplex in Valley Arts District, Orange, NJ.
Where is this duplex located?
The property is located at 579 Nassau St Orange, NJ.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: - Turnkey, income-generating two-family property in the Valley Arts District.; - Fully renovated in 2021 with updated electrical, plumbing, kitchens, and baths.; - Each unit features 2 bedrooms, 1 bath, stainless steel appliances, in-unit washer/dryer, and mini-split systems for efficient heating/cooling.
