Three-Family Home with Driveway
423 Magnolia Street, Highland Park, NJ 08904
New
MULTI_FAMILY - Highland Park, NJ
Property size:
2,718 SFLot size:
0.12 AcresPrice / SF:
$331/SF- Added:
- Jul 6, 2026
- Days on Market:
- 2
- Last Refresh:
- Jul 7 at 11:06 am
Property Features for 423 Magnolia Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bathrooms
- 3
- Rooms
- Basement, Bathroom 3, Bathroom 2, Bathroom 1, Dining Room
- Patio and Porch features
- Porch
- Interior features
- Unit 1(Dining Room, 2 Bedrooms, Kitchen, 1 Bath, Living Room), Unit 2(Dining Room, 3 Bedrooms, Kitchen, 1 Bath, Living Room), Unit 3(1 Bedroom, Kitchen, 1 Bath, Living Room)
- Exterior features
- Porch
- Appliances
- Water Heater(See Remarks), Water Heater, Unit 1(Range/Oven, Refrigerator), Unit 2(Range/Oven, Refrigerator), Unit 3(Range/Oven, Refrigerator)
- Standard status
- Active
- APN
- 0703002000000018
- Size
- 2,718 SF
- Lot size
- 0.12 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 16038
Utilities
- Sewer type
- Public Sewer
- Water source
- Public
Building Details
- Year built
- 1940
- Floors in Building
- 3
- Building materials
- Metal Siding
Listing agent Pinhas Cohen (908) 202-5738
Listing office BEST REALTY 42 WOODBRIDGE AVENUE, NJ (732) 819-8895
Listing date Jul 6, 2026
MLS# 2618234R
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
- Three‑family home built in 1940 with three separate units: Unit 1 (2BR/1BA), Unit 2 (3BR/1BA), and Unit 3 (1BR/1BA).
- Unit interiors include dining and living rooms, kitchens, and 1 bath per unit.
- Metal siding exterior with a porch and an enclosed back sunroom.
- Driveway parking plus park‑like backyard.
- Utilities/services: public water and public sewer.
- Basement includes laundry and storage area.
Overview
This large three-family home offers flexible unit layouts across three levels. The first-floor apartment features two bedrooms along with a living room and dining room, and includes an updated kitchen with granite counters. The second-floor apartment is described as a large configuration with three to four bedrooms, also with a living room and dining room. A one-bedroom unit is located on the third floor. Laundry facilities are in the basement, along with a storage area, supporting day-to-day convenience for residents.
The property is set on a lot sized at 0.1213 acres and includes a large driveway for parking, as well as a park-like backyard. An enclosed back sunroom adds additional indoor-outdoor comfort. It is located near Rutgers University, Barnabas RWJ Hospital, houses of worship, supermarkets, shopping, and other local amenities. Public transportation access is noted with a bus stop a few blocks away, and a train station is identified as about one mile from the property.
As a for-sale income property, this residence may appeal to investors or owner-occupants seeking a three-unit structure with distinct unit sizes, shared basement laundry, and off-street parking. The combination of updated kitchen finishes on the first floor, multiple bedroom configurations across upper floors, and outdoor space may support a practical tenant mix.
The property is set on a lot sized at 0.1213 acres and includes a large driveway for parking, as well as a park-like backyard. An enclosed back sunroom adds additional indoor-outdoor comfort. It is located near Rutgers University, Barnabas RWJ Hospital, houses of worship, supermarkets, shopping, and other local amenities. Public transportation access is noted with a bus stop a few blocks away, and a train station is identified as about one mile from the property.
As a for-sale income property, this residence may appeal to investors or owner-occupants seeking a three-unit structure with distinct unit sizes, shared basement laundry, and off-street parking. The combination of updated kitchen finishes on the first floor, multiple bedroom configurations across upper floors, and outdoor space may support a practical tenant mix.
Local Financial Insights For Multifamily LT 5
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 | $69.5k | $25.56 |
| − Vacancy | −$4.5k | −$1.65 |
| EGI | $65.0k | $23.91 |
| − OpEx | −$19.5k | −$7.17 |
| NOI | $45.5k | $16.74 |
2,718 SF · lease $25.56/SF/yr · vacancy 6.46% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$649.8K
$568.6K – $758.2K
NOI $45,489 @ 7.0% cap · market cap 5.05%
Second Best
Apartment 5plus
$597.1K
$522.5K – $696.6K
NOI $41,797 @ 7.0% cap · market cap 4.64%
Theoretical Best
Office A
$709.7K
$621.0K – $828.0K
NOI $49,681 @ 7.0% cap · market cap 5.52%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Location Insight
- Map
- Local Demand
- City
- Highland Park
- County
- Middlesex
- State
- New Jersey
- Longitude
- -74.4243348
- Latitude
- 40.4988801
Nearby Similar for Sale
FAQs
What type of property is this?
Triplex - Three-unit residence with updated first-floor finishes, in-building laundry, and off-street parking plus an enclosed sunroom.
Where is this triplex located?
The property is located at 423 Magnolia Street Highland Park, NJ.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Three‑family home built in 1940 with three separate units: Unit 1 (2BR/1BA), Unit 2 (3BR/1BA), and Unit 3 (1BR/1BA).; Unit interiors include dining and living rooms, kitchens, and 1 bath per unit.; Metal siding exterior with a porch and an enclosed back sunroom.
