Four-Unit Residential Income
124 Spruce Street Bloomfield, NJ 07003
124 Spruce Street, Bloomfield, NJ, 07003
$975,000
For Sale
$975,000
Four-family rental building with one three-bedroom, two two-bedroom, and one one-bedroom unit.
Property Size3,064 SF
Price / SF$318.21
Days on Market94
Property Features for 124 Spruce Street
General Information
- Standard status
- Active
- Size
- 3,064 SF
- Property subtype
- Multi-Family / Four Family
Listing agency
Real Broker, LLC
(855) 450-0442
Listed by
John Natale · License #0790719
(855) 450-0442
Source
Compass
Added: Apr 21 Updated: Jul 22 at 1:57PM Checked: Jul 22 at 1:57PM
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 Real Broker, LLC
Investment Insights
Based on property information with market context.
This four-unit residential income property is configured with one 3-bedroom unit, two 2-bedroom units, and one 1-bedroom unit. The building presents as a straightforward quadplex setup for an owner seeking an income-producing residential investment.
The property is located in Bloomfield, NJ, with convenient access to shopping and the Garden State Parkway.
Offered for sale as a four-family investment opportunity, the mix of unit sizes supports a diversified residential rental composition within a single building.
The property is located in Bloomfield, NJ, with convenient access to shopping and the Garden State Parkway.
Offered for sale as a four-family investment opportunity, the mix of unit sizes supports a diversified residential rental composition within a single building.
Key Highlights
- Four‑family rental building with a mix of unit types: one 3‑bedroom, two 2‑bedroom, and one 1‑bedroom unit
- 9 bedrooms total across the four units
- 4 full bathrooms total; no half baths reported
Local 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 | $78.3k | $25.56 |
| − Vacancy | −$5.1k | −$1.65 |
| EGI | $73.3k | $23.91 |
| − OpEx | −$22.0k | −$7.17 |
| NOI | $51.3k | $16.74 |
3,064 SF · lease $25.56/SF/yr · vacancy 6.46% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$732.6K
$641.0K – $854.7K
NOI $51,280 @ 7.0% cap · market cap 5.26%
Second Best
Apartment 5plus
$673.1K
$589.0K – $785.3K
NOI $47,118 @ 7.0% cap · market cap 4.83%
Theoretical Best
Office A
$800.1K
$700.1K – $933.4K
NOI $56,005 @ 7.0% cap · market cap 5.74%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Four-family rental building with one three-bedroom, two two-bedroom, and one one-bedroom unit.
Where is this quadplex located?
The property is located at 124 Spruce Street Bloomfield, NJ.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Four‑family rental building with a mix of unit types: one 3‑bedroom, two 2‑bedroom, and one 1‑bedroom unit; 9 bedrooms total across the four units; 4 full bathrooms total; no half baths reported
