Duplex with Separate
For Sale
$649,000
Pending
24 Hillcrest Avenue, Edison, NJ 08817
Both residences are leased and separately metered, with a new deck and yard on the property.
Property Size1,800 SF
Days on Market8
Property Features for 24 Hillcrest Avenue
General Information
Standard status
Pending
Size
1,800 SF
Property subtype
Multi Family Home
Zoning
RB
Occupancy
100%
Units
Multifamily Units
2
Individually Metered Utilities
unspecified utilities
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$8,641
Amenities
Unit 1(2 Bedrooms
Kitchen
Laundry Hookup
1 Bath
Living Room
See Remarks)
Unit 2(2 Bedrooms
Living Room)
Patio
Deck
Building Details
Building Size
1,800 SF
Year Built
1952
Stories
2
Listing Agency:
TRUE REAL ESTATE GROUP
Listed By:
Victoria Tudor · License #308438
(973) 409-4590
Source:
Lacerdarealtors
Added: Oct 20
Changed: Oct 25
Last Checked: Oct 26 at 4:05AM
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 TRUE REAL ESTATE GROUP
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Investment Insights
Based on property information with market context.
This two-unit duplex in Edison includes separately metered residences, a newly constructed deck, and a yard. The property is fully rented and carries RB zoning.
Built in 1952, the duplex offers an existing rental configuration in a residential setting on Hillcrest Avenue.
Built in 1952, the duplex offers an existing rental configuration in a residential setting on Hillcrest Avenue.
Key Highlights
- Two residences, both currently rented
- Separate metering for each unit
- Newly built deck and yard
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,968
Cap Rate
5.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$659,360
$659.4K
Cap Rate 7%
$470,971
$471.0K
Cap Rate 9%
$366,311
$366.3K
Market Conditions
NOI Build-Up for 1,800 SF
Gross rent
$49.7K $27.60/SF
− Vacancy
−$2.6K −$1.44/SF
EGI
$47.1K $26.16/SF
− OpEx
−$14.1K −$7.85/SF
NOI
$33.0K $18.32/SF
Area
Edison, NJ
Vacancy
5.20%
Lease Rate
$27.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$659,360
Cap Rate 7%
$470,971
Cap Rate 9%
$366,311
Alternative Uses
Best Use
Multifamily LT 5
$471.0K
$412.1K – $549.5K
NOI $32,968 @ 7.0% cap · market cap 5.08%
Second Best
Apartment 5plus
$419.2K
$366.8K – $489.1K
NOI $29,344 @ 7.0% cap · market cap 4.52%
Theoretical Best
Office A
$583.4K
$510.5K – $680.6K
NOI $40,836 @ 7.0% cap · market cap 6.29%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,168
Businesses Nearby
Explore this area
Business Placement
Demographics for 08817, NJ
48,243
Population
17,260
Households
2.8
Avg Household Size
37
Median Age
49%
College-Educated
91%
High-School Grad
10.6 sq mi
ZIP Area
4,551
Density / Sq Mi
$109,734
Median Household Income
$54,631
Median Earnings
$1,946
Median Rent
$411,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences are leased and separately metered, with a new deck and yard on the property.
Where is this duplex located?
The property is located at 24 Hillcrest Avenue Edison, NJ.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: Two residences, both currently rented; Separate metering for each unit; Newly built deck and yard
