East Orange Multifamily Investment
For Sale
$849,900
222 William St, East Orange, NJ 07017
Vacant 4-family property with upside potential near transit.
Property Size2,956 SF
Price / SF$287.52
Days on Market154
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Property Features for 222 William St
General Information
Standard status
Active
Size
2,956 SF
Property subtype
Multi-Family
Building Details
Year Built
1925
Listing Agency:
KELLER WILLIAMS - NJ METRO GROUP
Listed By:
JAMES HUGHES · License #0454530
(201) 675-1210
Source:
Goldstandardrealty
Added: May 15
Changed: Sep 14
Last Checked: Oct 7 at 4:08PM
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 - NJ METRO GROUP
Investment Insights
Based on property information with market context.
This 4-family multifamily property in East Orange presents income potential and flexibility for owner-occupants. Located approximately 8 minutes from the East Orange NJ Transit station, it offers convenient access to NYC Penn Station. Three of the four units have been updated, while one unit provides an opportunity for renovation and future rental growth. The property will be delivered vacant, appealing to investors, owner-occupants, furnished rental operators, or buyers seeking a live-in investment. An unfinished walk-up attic offers potential expansion opportunities, and buyers may explore incorporating the attic into an upper unit to create additional living space, subject to municipal approvals and due diligence. The oversized lot includes 8 detached garages in two separate structures, providing additional storage, parking, or income potential in a densely populated neighborhood where off-street parking is valuable. The property may also offer future subdivision possibilities, subject to municipal approvals and buyer due diligence. The location is convenient to public transportation, Route 280, the Garden State Parkway, shopping, parks, and ongoing redevelopment activity. The property has a bike score of 51, indicating it is bikeable, a walk score of 78, indicating it is very walkable, and a transit score of 68, indicating good transit options.
Key Highlights
- Delivered vacant, offering immediate income potential and flexibility.
- Commuter‑friendly location, approximately 8 minutes from East Orange NJ Transit station with direct access to NYC Penn Station.
- Three of four units are updated, with one unit offering value‑add potential.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,472
Cap Rate
5.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$989,440
$989.4K
Cap Rate 7%
$706,743
$706.7K
Cap Rate 9%
$549,689
$549.7K
Market Conditions
NOI Build-Up for 2,956 SF
Gross rent
$75.6K $25.56/SF
− Vacancy
−$4.9K −$1.65/SF
EGI
$70.7K $23.91/SF
− OpEx
−$21.2K −$7.17/SF
NOI
$49.5K $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%
$989,440
Cap Rate 7%
$706,743
Cap Rate 9%
$549,689
Alternative Uses
Best Use
Multifamily LT 5
$706.7K
$618.4K – $824.5K
NOI $49,472 @ 7.0% cap · market cap 5.82%
Second Best
Apartment 5plus
$649.4K
$568.2K – $757.6K
NOI $45,457 @ 7.0% cap · market cap 5.35%
Theoretical Best
Office A
$771.9K
$675.4K – $900.5K
NOI $54,031 @ 7.0% cap · market cap 6.36%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,363
Businesses Nearby
Explore this area
Business Placement
Demographics for 07017, NJ
39,054
Population
16,770
Households
2.3
Avg Household Size
37
Median Age
22%
College-Educated
88%
High-School Grad
2.3 sq mi
ZIP Area
16,980
Density / Sq Mi
$61,552
Median Household Income
$39,847
Median Earnings
$1,346
Median Rent
$316,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Vacant 4-family property with upside potential near transit.
Where is this quadplex located?
The property is located at 222 William St East Orange, NJ.
What is the asking price?
The asking price for this property is $849,900.
What are key features of this property?
This property features: Delivered vacant, offering immediate income potential and flexibility.; Commuter‑friendly location, approximately 8 minutes from East Orange NJ Transit station with direct access to NYC Penn Station.; Three of four units are updated, with one unit offering value‑add potential.
