Turn-Key Fourplex Income
124 Paine Ave Irvington, NJ 07111
For Sale
$849,000
MULTI_FAMILY - Irvington Twp., NJ
Property Size4,232 SF
Lot Size0.11 Acres
Price / SF$200.61
Days on Market98
Property Features for 124 Paine Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
9
Bathrooms
4
Rooms
Bathroom 2, Bedroom 7, Bedroom 6, Bathroom 1, Basement, Bedroom 1, Bedroom 5, Bedroom 8, Bedroom 2, Bedroom 4, Bedroom 9, Bathroom 4, Bathroom 3, Bedroom 3
Parking
6
Standard status
Active
Size
4,232 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
20271
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1953
Floors in Building
2
Number of units
4
Roof type
Shingle
Architectural style
Other
Listing Agency:
KELLER WILLIAMS MID-TOWN DIRECT
(973) 762-5400
Listed By:
JOEL MILLER · License #408229
(973) 762-5400
Added: Apr 22
Changed: Jul 28
Last Checked: Jul 28 at 6:06AM
MLS# 4022603
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 turn-key fourplex is configured as four residential apartments in a side-by-side duplex style, arranged over two stories. The property includes brick on the first level with durable siding above, a central front entrance with brick steps, and a wide driveway leading to a two-car garage. The building totals 9 bedrooms and 4 bathrooms across the four units, and each unit has separate utilities. Windows throughout the units provide natural light.
The property is located on a residential block in Irvington Township, Essex County. It is described as being close to transportation, shopping, and neighborhood amenities, providing convenient day-to-day access for tenants.
As a for-sale income property, it is fully leased and supported by an established rent roll, with the seller describing the units as maintained. The four-unit layout and separate utility setup may appeal to investors seeking a multi-unit ownership structure or an owner-occupant looking to offset housing expenses through rental income. The combination of a well-kept exterior, functional two-story plan, and on-site parking supports broad tenant fit for residential use.
The property is located on a residential block in Irvington Township, Essex County. It is described as being close to transportation, shopping, and neighborhood amenities, providing convenient day-to-day access for tenants.
As a for-sale income property, it is fully leased and supported by an established rent roll, with the seller describing the units as maintained. The four-unit layout and separate utility setup may appeal to investors seeking a multi-unit ownership structure or an owner-occupant looking to offset housing expenses through rental income. The combination of a well-kept exterior, functional two-story plan, and on-site parking supports broad tenant fit for residential use.
Key Highlights
- 1953‑built 4‑unit side‑by‑side duplex with separate utilities
- 9 bedrooms and 4 bathrooms total across the four residential units
- All units are fully leased with an established rent roll
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $108.2k | $25.56 |
| − Vacancy | −$7.0k | −$1.65 |
| EGI | $101.2k | $23.91 |
| − OpEx | −$30.4k | −$7.17 |
| NOI | $70.8k | $16.74 |
4,232 SF · lease $25.56/SF/yr · vacancy 6.46% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.01M
$885.4K – $1.18M
NOI $70,828 @ 7.0% cap · market cap 8.34%
Second Best
Apartment 5plus
$929.7K
$813.5K – $1.08M
NOI $65,080 @ 7.0% cap · market cap 7.67%
Theoretical Best
Office A
$1.11M
$966.9K – $1.29M
NOI $77,354 @ 7.0% cap · market cap 9.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Quadplex - Side-by-side four residential units with separate utilities, separate front entrances, and a maintained exterior layout suited for income-focused ownership.
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 $849,000.
What are key features of this property?
This property features: 1953‑built 4‑unit side‑by‑side duplex with separate utilities; 9 bedrooms and 4 bathrooms total across the four residential units; All units are fully leased with an established rent roll
