East Orange Multi-Unit
312 Rhode Island Avenue, East Orange, NJ 07018
- Added:
- Oct 25, 2025
- Days on Market:
- 222
- Last Refresh:
- Jun 3 at 8:06 am
Property Features for 312 Rhode Island Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bathrooms
- 4
- Rooms
- Bathroom 2, Bathroom 1, Bathroom 3, Dining Room, Basement, Bathroom 4
- Parking features
- Carport, Garage
- Patio and Porch features
- Porch
- Interior features
- Unit 1(1 Bedroom, Dining Room, Kitchen, 1 Bath, Living Room), Unit 2(1 Bedroom, Kitchen, 1 Bath, Living Room), Unit 3(1 Bedroom, Kitchen, 1 Bath, Living Room), Unit 4(3 Bedrooms, Kitchen, 1 Bath, Living Room, See Remarks)
- Exterior features
- Curbs, Porch(es) - Open, Fencing/Wall, Yard, Porch
- Fencing
- Fenced
- Appliances
- Water Heater(See Remarks, Gas), Water Heater, Unit 1(Range/Oven, Refrigerator), Unit 2(Range/Oven, Refrigerator), Unit 3(Range/Oven, Refrigerator), Unit 4(Range/Oven, Refrigerator)
- Standard status
- Active Under Contract
- APN
- 0500743000000029
- Size
- 3,326 SF
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 15831
Utilities
- Sewer type
- Public Sewer
- Heating system
- Other (Heating), Steam
- Cooling system
- Ceiling Fan(s), Window Unit(s)
- Water source
- Public
Building Details
- Year built
- 1930
- Floors in Building
- 3
- Flooring type
- Carpet
- Building materials
- Brick, Vinyl Siding
- Roof type
- Flat, Asphalt
- Additional Structures
- See Remarks
Listing agent Celadawn Reid (732) 549-1998
Listing office KELLER WILLIAMS ELITE REALTORS 481 MEMORIAL PARKWAY, Metuchen, NJ (732) 549-1998
Listing date Oct 25, 2025
MLS# 2606506R
Listing URL
Copyright © 2026 All Jersey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Multi‑unit property with five total units offering significant income potential.
- Newer roof, new furnace, and new hot water tank in the front building, reducing immediate maintenance concerns.
- Includes an attached oversized two‑car garage, a rare and valuable feature.
- Ample parking available for up to five additional vehicles.
- Suitable for investors, owner‑occupants seeking rental income, or multi‑generational families.
- Convenient location near transportation, shopping, and schools.
Overview
This unique property in East Orange features two homes on one lot. The front building is a three-family home, each unit offering one bedroom. It features a newer roof, new furnace, and new hot water tank. The rear property includes two additional units: a first-floor one-bedroom and a spacious three-bedroom apartment on the second floor, plus an attached oversized two-car garage. Ample parking is available for up to five additional vehicles. The property is perfect for investors, owner-occupants seeking rental income, or a multi-generational family. It is conveniently located near transportation, shopping, and schools. The property size is 3326 square feet.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $99.8k | $30.00 |
| − Vacancy | −$6.8k | −$2.04 |
| EGI | $93.0k | $27.96 |
| − OpEx | −$41.8k | −$12.58 |
| NOI | $51.1k | $15.38 |
3,326 SF · lease $30.00/SF/yr · vacancy 6.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$730.7K
$639.3K – $852.5K
NOI $51,147 @ 7.0% cap · market cap 6.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$868.5K
$759.9K – $1.01M
NOI $60,794 @ 7.0% cap · market cap 8.11%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- East Orange
- County
- Essex
- State
- New Jersey
- Longitude
- -74.2277604
- Latitude
- 40.7546139
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Two homes on one lot, great income potential!
Where is this apartment building located?
The property is located at 312 Rhode Island Avenue East Orange, NJ.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Multi‑unit property with five total units offering significant income potential.; Newer roof, new furnace, and new hot water tank in the front building, reducing immediate maintenance concerns.; Includes an attached oversized two‑car garage, a rare and valuable feature.
