Leased 3-Unit
42 N Willow St, Montclair, NJ 07042
For Sale
$1,100,000
Each apartment has basement washer and dryer hookups and separately served utilities.
Property Size2,900 SF
Price / SF$379.31
Days on Market36
Property Features for 42 N Willow St
General Information
Standard status
Size
Property subtype
Occupancy
Site & Location
Public Transit
Utilities to Site
Units
Unit Mix
Multifamily Units
Individually Metered Utilities
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
garage
washer/dryer hookups
Building Details
Building Size
Year Built
Tenancy
Listing Agency:
CENTURY 21 THE CROSSING
Listed By:
CHRISTOPHER HILL · License #2670758
(973) 227-7000
Source:
Dwellrealtynj
Added: Oct 5
Changed: Nov 6
Last Checked: Nov 9 at 1:58AM
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 CENTURY 21 THE CROSSING
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Investment Insights
Based on property information with market context.
Built in 1907, this three-unit property includes two apartments with two bedrooms and one bathroom each, plus a one-bedroom, one-bath apartment. A garage is also part of the property. Basement washer and dryer hookups are provided for each unit, and utility service is separate by apartment. All three apartments and the garage are leased.
The property is in Montclair, within walking distance of Bloomfield Avenue shops, restaurants, and NJ Transit rail service to Manhattan. Downtown Montclair is nearby.
The property is in Montclair, within walking distance of Bloomfield Avenue shops, restaurants, and NJ Transit rail service to Manhattan. Downtown Montclair is nearby.
Key Highlights
- Three apartments: two 2‑bedroom, 1‑bath units and one 1‑bedroom, 1‑bath unit
- All three units and the garage are leased
- Separate utility service for each apartment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,535
Cap Rate
4.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$970,700
$970.7K
Cap Rate 7%
$693,357
$693.4K
Cap Rate 9%
$539,278
$539.3K
Market Conditions
NOI Build-Up for 2,900 SF
Gross rent
$74.1K $25.56/SF
− Vacancy
−$4.8K −$1.65/SF
EGI
$69.3K $23.91/SF
− OpEx
−$20.8K −$7.17/SF
NOI
$48.5K $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%
$970,700
Cap Rate 7%
$693,357
Cap Rate 9%
$539,278
Alternative Uses
Best Use
Multifamily LT 5
$693.4K
$606.7K – $808.9K
NOI $48,535 @ 7.0% cap · market cap 4.41%
Second Best
Apartment 5plus
$637.1K
$557.5K – $743.3K
NOI $44,596 @ 7.0% cap · market cap 4.05%
Theoretical Best
Office A
$757.2K
$662.6K – $883.5K
NOI $53,007 @ 7.0% cap · market cap 4.82%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
4,413
Businesses Nearby
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Business Placement
Demographics for 07042, NJ
27,384
Population
11,682
Households
2.3
Avg Household Size
39
Median Age
67%
College-Educated
96%
High-School Grad
3.8 sq mi
ZIP Area
7,206
Density / Sq Mi
$127,083
Median Household Income
$75,856
Median Earnings
$2,017
Median Rent
$733,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Triplexes in Essex County, NJ
Properties on Market for Triplexes in Essex County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Each apartment has basement washer and dryer hookups and separately served utilities.
Where is this triplex located?
The property is located at 42 N Willow St Montclair, NJ.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Three apartments: two 2‑bedroom, 1‑bath units and one 1‑bedroom, 1‑bath unit; All three units and the garage are leased; Separate utility service for each apartment
