26-Unit Multifamily Investment
For Sale
$4,299,000
Pending
481 William St, East Orange, NJ 07017
Four-story, 26-unit building in prime location with redevelopment potential.
Property SizeContact for details
Lot Size0.19 Acres
Days on Market171
Property Features for 481 William St
General Information
Standard status
Pending
Lot size
0.19 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$81,277
Amenities
1 Unit Heating
Flat Roof
Building Details
Year Built
1955
Listing Agency:
KELLER WILLIAMS PROSPERITY REALTY
(973) 696-0077
Listed By:
RANIA RATEL
Source:
Corcoran
Added: Mar 17
Changed: Aug 8
Last Checked: Jul 23 at 7:01AM
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 KELLER WILLIAMS PROSPERITY REALTY
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.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,255
Businesses Nearby
Explore this area
Business Placement
Demographics for 07017, NJ
39,054
Population
16,770
Households
2.3
Avg Household Size
37
Median Age
22%
College-Educated
88%
High-School Grad
2.3 sq mi
ZIP Area
16,980
Density / Sq Mi
$61,552
Median Household Income
$39,847
Median Earnings
$1,346
Median Rent
$316,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
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.
