Three-Unit Multifamily
For Sale
$899,000
302 Belmont Ave, Belleville, NJ 07109
Residents pay their own utility costs, while a finished basement adds usable space.
Property Size4,650 SF
Price / SF$193.33
Days on Market13
Property Features for 302 Belmont Ave
General Information
Standard status
Active
Size
4,650 SF
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Multifamily Units
3
Building Details
Year Built
1922
Listing Agency:
REALTY EMPIRE, LLC
Listed By:
HESHAM HAMDAM · License #403761
(973) 510-2260
Source:
Goldstandardrealty
Added: Oct 7
Changed: Oct 12
Last Checked: Oct 7 at 2:43PM
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 REALTY EMPIRE, LLC
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Investment Insights
Based on property information with market context.
At 302 Belmont Ave in Belleville, this three-unit multifamily property was built in 1922 and contains approximately 4,650 square feet. The layout includes 11 bedrooms and 4 bathrooms, along with a finished basement. Residents pay their own utilities.
The property has access to major highways and is near shopping, restaurants, schools, and transportation to New York City.
The property has access to major highways and is near shopping, restaurants, schools, and transportation to New York City.
Key Highlights
- Three residential units
- Approximately 4,650 square feet with 11 bedrooms and 4 bathrooms
- Finished basement
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$77,823
Cap Rate
8.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,556,460
$1.6M
Cap Rate 7%
$1,111,757
$1.1M
Cap Rate 9%
$864,700
$864.7K
Market Conditions
NOI Build-Up for 4,650 SF
Gross rent
$118.9K $25.56/SF
− Vacancy
−$7.7K −$1.65/SF
EGI
$111.2K $23.91/SF
− OpEx
−$33.4K −$7.17/SF
NOI
$77.8K $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%
$1,556,460
Cap Rate 7%
$1,111,757
Cap Rate 9%
$864,700
Alternative Uses
Best Use
Multifamily LT 5
$1.11M
$972.8K – $1.30M
NOI $77,823 @ 7.0% cap · market cap 8.66%
Second Best
Apartment 5plus
$1.02M
$893.9K – $1.19M
NOI $71,508 @ 7.0% cap · market cap 7.95%
Theoretical Best
Office A
$1.21M
$1.06M – $1.42M
NOI $84,995 @ 7.0% cap · market cap 9.45%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,550
Businesses Nearby
Explore this area
Business Placement
Demographics for 07109, NJ
38,078
Population
15,045
Households
2.5
Avg Household Size
39
Median Age
31%
College-Educated
87%
High-School Grad
3.3 sq mi
ZIP Area
11,539
Density / Sq Mi
$90,164
Median Household Income
$47,446
Median Earnings
$1,596
Median Rent
$405,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Residents pay their own utility costs, while a finished basement adds usable space.
Where is this triplex located?
The property is located at 302 Belmont Ave Belleville, 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: Three residential units; Approximately 4,650 square feet with 11 bedrooms and 4 bathrooms; Finished basement
