4-Unit Apartment
124 Paine Ave, Irvington, NJ 07111
For Sale
New
$799,000
Fully occupied residential property with separate utilities and a two-car garage.
Property Size4,232 SF
Price / SF$188.80
Days on Market4
Property Features for 124 Paine Ave
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Occupancy
Units
Multifamily Units
Individually Metered Utilities
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
Unfinished,Walkout
Gas-Natural
4
5
1
9
Carbon Monoxide Detector,Range/Oven - Gas,Refrigerator,Smoke Detector
2
3
1.0
1949
Bedrooms,Eat-In Kitchen,Living Room
No
Public Water
49 X 100
0.11
4232
Aluminum Siding
Building Details
Building Size
Year Built
Buildings
Stories
Construction
Listing Agency:
(732) 853-1896
Listed By:
Steven Fendler
Source:
Orangekeyrealty
Added: Nov 6
Changed: Nov 9
Last Checked: Nov 8 at 4:45PM
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 Steven Fendler
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Investment Insights
Based on property information with market context.
This two-story residential income property contains four apartments with a combined 9 bedrooms and 4 baths. The 4,232-square-foot building has brick on the first level and siding above, with a central entrance and multiple windows. A wide driveway and two-car garage provide on-site vehicle access. Separate utilities serve the units, which are fully leased.
The property sits on a residential block near transportation, shopping, and neighborhood amenities. The 0.11-acre parcel measures 49 x 100 feet.
The property sits on a residential block near transportation, shopping, and neighborhood amenities. The 0.11-acre parcel measures 49 x 100 feet.
Key Highlights
- Four apartments with 9 bedrooms and 4 baths
- 4,232‑square‑foot building on a 0.11‑acre parcel
- Fully leased; separate utilities
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$70,828
Cap Rate
8.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,416,560
$1.4M
Cap Rate 7%
$1,011,829
$1.0M
Cap Rate 9%
$786,978
$787.0K
Market Conditions
NOI Build-Up for 4,232 SF
Gross rent
$108.2K $25.56/SF
− Vacancy
−$7.0K −$1.65/SF
EGI
$101.2K $23.91/SF
− OpEx
−$30.4K −$7.17/SF
NOI
$70.8K $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 Rate 5%
$1,416,560
Cap Rate 7%
$1,011,829
Cap Rate 9%
$786,978
Alternative Uses
Best Use
Multifamily LT 5
$1.01M
$885.4K – $1.18M
NOI $70,828 @ 7.0% cap · market cap 8.86%
Second Best
Apartment 5plus
$929.7K
$813.5K – $1.08M
NOI $65,080 @ 7.0% cap · market cap 8.15%
Theoretical Best
Office A
$1.11M
$966.9K – $1.29M
NOI $77,354 @ 7.0% cap · market cap 9.68%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
913
Businesses Nearby
Explore this area
Business Placement
Demographics for 07111, NJ
61,176
Population
24,176
Households
2.5
Avg Household Size
36
Median Age
22%
College-Educated
86%
High-School Grad
2.9 sq mi
ZIP Area
21,095
Density / Sq Mi
$59,232
Median Household Income
$37,640
Median Earnings
$1,324
Median Rent
$291,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Quadplexes in Essex County, NJ
Properties on Market for Quadplexes in Essex County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Fully occupied residential property with separate utilities and a two-car garage.
Where is this quadplex located?
The property is located at 124 Paine Ave Irvington, NJ.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Four apartments with 9 bedrooms and 4 baths; 4,232‑square‑foot building on a 0.11‑acre parcel; Fully leased; separate utilities
