Two-Unit Duplex with Bonus
For Sale
$599,000
1602 Bayview Ave, Hillside, NJ 07205
Each residence offers two bedrooms and one bathroom, with additional adaptable space on the third floor.
Property Size3,301 SF
Price / SF$181.46
Days on Market53
Property Features for 1602 Bayview Ave
General Information
Standard status
Active
Size
3,301 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1935
Stories
3
Listing Agency:
EXP REALTY, LLC
Listed By:
INGRID JEAN-GILLES
(866) 201-6210
Source:
Luminancerealty
Added: Aug 23
Changed: Oct 5
Last Checked: Oct 5 at 7:53PM
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 EXP REALTY, LLC
Investment Insights
Based on property information with market context.
This duplex property contains two separate residential levels, each configured with 2 bedrooms and 1 bathroom. A third-floor bonus area adds flexible interior space that can be adapted to suit the property’s needs.
Built in 1935, the 3,301-square-foot building is located at 1602 Bayview Ave in Hillside Twp., NJ 07205. Its two-unit layout provides a defined configuration for residential ownership or investment use.
Built in 1935, the 3,301-square-foot building is located at 1602 Bayview Ave in Hillside Twp., NJ 07205. Its two-unit layout provides a defined configuration for residential ownership or investment use.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 bathroom on each floor
- Third‑floor bonus space for flexible interior use
- 3,301 square feet of building area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$50,763
Cap Rate
8.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,015,260
$1.0M
Cap Rate 7%
$725,186
$725.2K
Cap Rate 9%
$564,033
$564.0K
Market Conditions
NOI Build-Up for 3,301 SF
Gross rent
$99.0K $30.00/SF
− Vacancy
−$6.7K −$2.04/SF
EGI
$92.3K $27.96/SF
− OpEx
−$41.5K −$12.58/SF
NOI
$50.8K $15.38/SF
Area
Union County, NJ
Vacancy
6.80%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,015,260
Cap Rate 7%
$725,186
Cap Rate 9%
$564,033
Alternative Uses
Best Use
Multifamily LT 5
$789.2K
$690.6K – $920.8K
NOI $55,246 @ 7.0% cap · market cap 9.22%
Second Best
Apartment 5plus
$725.2K
$634.5K – $846.1K
NOI $50,763 @ 7.0% cap · market cap 8.47%
Theoretical Best
Office A
$862.0K
$754.2K – $1.01M
NOI $60,337 @ 7.0% cap · market cap 10.07%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,756
Businesses Nearby
Explore this area
Business Placement
Demographics for 07205, NJ
22,432
Population
7,550
Households
3
Avg Household Size
39
Median Age
29%
College-Educated
87%
High-School Grad
2.8 sq mi
ZIP Area
8,011
Density / Sq Mi
$98,558
Median Household Income
$47,633
Median Earnings
$1,712
Median Rent
$363,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Each residence offers two bedrooms and one bathroom, with additional adaptable space on the third floor.
Where is this duplex located?
The property is located at 1602 Bayview Ave Hillside, NJ.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1 bathroom on each floor; Third‑floor bonus space for flexible interior use; 3,301 square feet of building area
