Renovated 4-Unit
201-203 Watchung Ave, West Orange, NJ 07052
For Sale
$899,000
Four residential units offer varied bedroom layouts, individual solar systems, basement storage, and a partially fenced backyard.
Property Size3,776 SF
Price / SF$238.08
Days on Market51
Property Features for 201-203 Watchung Ave
General Information
Standard status
Size
Property subtype
Site & Location
Highway Access
Public Transit
Utilities to Site
Units
Unit Mix
Multifamily Units
Building Details
Year Built
Listing Agency:
KELLER WILLIAMS REALTY
Listed By:
AARON VISCO
(908) 273-2991
Source:
Goldstandardrealty
Added: Sep 20
Changed: Nov 5
Last Checked: Nov 8 at 8:17AM
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 KELLER WILLIAMS REALTY
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Investment Insights
Based on property information with market context.
This renovated quadplex contains 3 two-bedroom units and 1 three-bedroom unit. Each residence includes a living area, eat-in kitchen, full bathroom, laundry, built-in microwave, and stove, while the property also provides basement storage and a partially fenced backyard. The 3,776-square-foot building was constructed in 1925.
Property systems include a roof installed in 2008, separate solar systems serving each unit, 400A electrical service added in 2006, and gas steam boilers serving all units. The property is near shopping, dining, parks, and schools, with access to Route 280 and the bus loop. Orange NJ Transit Station is approximately 1 mile away.
Property systems include a roof installed in 2008, separate solar systems serving each unit, 400A electrical service added in 2006, and gas steam boilers serving all units. The property is near shopping, dining, parks, and schools, with access to Route 280 and the bus loop. Orange NJ Transit Station is approximately 1 mile away.
Key Highlights
- Four‑unit configuration with 3 two‑bedroom units and 1 three‑bedroom unit
- 3,776 square feet; built in 1925
- Separate solar systems for each unit, reducing electric bills by 30‑40%
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$63,196
Cap Rate
7.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,263,920
$1.3M
Cap Rate 7%
$902,800
$902.8K
Cap Rate 9%
$702,178
$702.2K
Market Conditions
NOI Build-Up for 3,776 SF
Gross rent
$96.5K $25.56/SF
− Vacancy
−$6.2K −$1.65/SF
EGI
$90.3K $23.91/SF
− OpEx
−$27.1K −$7.17/SF
NOI
$63.2K $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%
$1,263,920
Cap Rate 7%
$902,800
Cap Rate 9%
$702,178
Alternative Uses
Best Use
Multifamily LT 5
$902.8K
$790.0K – $1.05M
NOI $63,196 @ 7.0% cap · market cap 7.03%
Second Best
Apartment 5plus
$829.5K
$725.8K – $967.8K
NOI $58,067 @ 7.0% cap · market cap 6.46%
Theoretical Best
Office A
$986.0K
$862.7K – $1.15M
NOI $69,019 @ 7.0% cap · market cap 7.68%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
4
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,053
Businesses Nearby
Explore this area
Business Placement
Demographics for 07052, NJ
48,867
Population
18,300
Households
2.7
Avg Household Size
42
Median Age
53%
College-Educated
92%
High-School Grad
12.0 sq mi
ZIP Area
4,072
Density / Sq Mi
$131,456
Median Household Income
$63,458
Median Earnings
$1,791
Median Rent
$527,200
Median Home Value
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Market
Average Price Trend$/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 - Four residential units offer varied bedroom layouts, individual solar systems, basement storage, and a partially fenced backyard.
Where is this quadplex located?
The property is located at 201-203 Watchung Ave West Orange, NJ.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Four‑unit configuration with 3 two‑bedroom units and 1 three‑bedroom unit; 3,776 square feet; built in 1925; Separate solar systems for each unit, reducing electric bills by 30‑40%
