481 William St East Orange, NJ 07017

Building Details

Year Built

1955

Listing Agency KELLER WILLIAMS PROSPERITY REALTY Show Phone

Listed by RANIA RATEL

Source Corcoran

Added: Mar 17 Checked: Jul 19 at 4:25 am

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Investment Insights

Based on property information with market context.

This four-story brick building features 26 units, including 15 one-bedroom and 11 two-bedroom apartments. The property is situated in a prime location experiencing rapid redevelopment and new construction. The building is well-maintained, with a boiler and hot water heater under 5 years old. An elevator was installed in 2006, and the roof has been updated multiple times since ownership, with the last update in 2018. Four units are currently undergoing renovation and will be rented at market value during the contract period. All units were fully renovated 20 years ago, with many renovated again before re-renting, and are reported to be in great condition. A live-in superintendent is on-site. Security cameras are installed and included in the sale. The property is located minutes from the train station and between the Garden State Parkway and Route 280. Most rentals are below market value, presenting income potential.

Key Highlights

• 26‑unit building with a mix of 1‑bedroom (15) and 2‑bedroom (11) units, offering diverse rental options.
• Prime location with significant redevelopment activity and new construction nearby, indicating strong growth potential.
• Below‑market rental rates offer substantial income upside.

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FAQs

What type of property is this?

Apartment building - Four-story, 26-unit building in prime location with redevelopment potential.

Where is this apartment building located?

The property is located at 481 William St East Orange, NJ.

What is the asking price?

The asking price for this property is $4,299,000.

What are key features of this property?

This property features: 26‑unit building with a mix of 1‑bedroom (15) and 2‑bedroom (11) units, offering diverse rental options.; Prime location with significant redevelopment activity and new construction nearby, indicating strong growth potential.; Below‑market rental rates offer substantial income upside.