Renovated Duplex with Finished Third
For Sale
$580,000
35 Chester Ave, Irvington, NJ 07111
Fully rented two-family property with renovated kitchens, finished upper-level space, a detached garage, and off-street parking.
Property Size2,352 SF
Price / SF$246.60
Days on Market79
Property Features for 35 Chester Ave
General Information
Standard status
Active
Size
2,352 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Building Details
Year Built
1925
Buildings
1
Listing Agency:
RE/MAX FIRST REALTY
Listed By:
MICHAEL GALINDEZ · License #298970
(732) 257-3500
Source:
Goldstandardrealty
Added: Jul 30
Changed: Oct 14
Last Checked: Oct 14 at 11:59PM
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 RE/MAX FIRST REALTY
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Investment Insights
Based on property information with market context.
Built in 1925, this 2,352-square-foot duplex contains two residential units, each arranged with a large living room, formal dining room, two bedrooms, an updated bathroom, and a recently renovated kitchen. The property is fully rented and includes a finished third level that is currently unused, providing additional space within the building.
A basement, detached garage, and off-street parking are also included. Located at 35 Chester Avenue in Irvington Township, the property combines established residential construction with updated unit interiors and supplementary storage or flex space.
A basement, detached garage, and off-street parking are also included. Located at 35 Chester Avenue in Irvington Township, the property combines established residential construction with updated unit interiors and supplementary storage or flex space.
Key Highlights
- Fully rented two‑family building at 35 Chester Avenue
- 2,352‑square‑foot duplex built in 1925
- Each unit includes two bedrooms, a formal dining room, and an updated bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,363
Cap Rate
6.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$787,260
$787.3K
Cap Rate 7%
$562,329
$562.3K
Cap Rate 9%
$437,367
$437.4K
Market Conditions
NOI Build-Up for 2,352 SF
Gross rent
$60.1K $25.56/SF
− Vacancy
−$3.9K −$1.65/SF
EGI
$56.2K $23.91/SF
− OpEx
−$16.9K −$7.17/SF
NOI
$39.4K $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%
$787,260
Cap Rate 7%
$562,329
Cap Rate 9%
$437,367
Alternative Uses
Best Use
Multifamily LT 5
$562.3K
$492.0K – $656.1K
NOI $39,363 @ 7.0% cap · market cap 6.79%
Second Best
Apartment 5plus
$516.7K
$452.1K – $602.8K
NOI $36,169 @ 7.0% cap · market cap 6.24%
Theoretical Best
Office A
$614.2K
$537.4K – $716.5K
NOI $42,991 @ 7.0% cap · market cap 7.41%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,034
Businesses Nearby
Explore this area
Business Placement
Demographics for 07111, NJ
61,176
Population
24,176
Households
2.5
Avg Household Size
36
Median Age
22%
College-Educated
86%
High-School Grad
2.9 sq mi
ZIP Area
21,095
Density / Sq Mi
$59,232
Median Household Income
$37,640
Median Earnings
$1,324
Median Rent
$291,500
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 - Fully rented two-family property with renovated kitchens, finished upper-level space, a detached garage, and off-street parking.
Where is this duplex located?
The property is located at 35 Chester Ave Irvington, NJ.
What is the asking price?
The asking price for this property is $580,000.
What are key features of this property?
This property features: Fully rented two‑family building at 35 Chester Avenue; 2,352‑square‑foot duplex built in 1925; Each unit includes two bedrooms, a formal dining room, and an updated bathroom
