Duplex with Renovated Upper
New
For Sale
$1,275,000
540 Mountain Ave, Montclair, NJ 07043
Two separate residences include private outdoor space, basement laundry and storage, and dedicated garage parking.
Property Size3,100 SF
Lot Size0.25 Acres
Price / SF$411.29
Days on Market1
Property Features for 540 Mountain Ave
General Information
Standard status
Active
Size
3,100 SF
Total Parking Spaces
4
Lot size
0.25 Acres
Property subtype
Commercial
Units
Unit Mix
2BR/1BA, 4-5BR/2BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$23,933
Building Details
Buildings
1
Listing Agency:
Corcoran Sawyer Smith
(201) 857-8777
Listed By:
Laura Dougherty-Drago ()
Source:
Fortuneluxuryrealty
Added: Oct 19
Last Checked: Oct 19 at 2:15PM
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 Corcoran Sawyer Smith
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Investment Insights
Based on property information with market context.
This duplex contains approximately 3,100 square feet across two residences on an 80 x 135-foot lot. The first-floor unit has two bedrooms, one full bath, living and dining areas, and private outdoor space. The upper residence spans the second and third floors, with two bedrooms on the second floor, additional bedrooms upstairs, office space, and two full baths. Recent improvements include a renovated upper kitchen, new flooring, and an updated bathroom.
Separate utilities serve the units. Basement laundry and storage, a two-car garage with one space per residence, and two additional off-street parking spaces round out the property's practical features. Montclair Heights train station, Montclair State University, Iris Gardens, Mountainside Park, and Bradford Elementary School are one block away.
Separate utilities serve the units. Basement laundry and storage, a two-car garage with one space per residence, and two additional off-street parking spaces round out the property's practical features. Montclair Heights train station, Montclair State University, Iris Gardens, Mountainside Park, and Bradford Elementary School are one block away.
Key Highlights
- Approximately 3,100 square feet on an 80 x 135‑foot lot
- Two residences; first‑floor unit has 2 bedrooms and 1 full bath
- Upper residence spans the second and third floors, with 2 second‑floor bedrooms and additional bedrooms upstairs
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,882
Cap Rate
4.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,037,640
$1.0M
Cap Rate 7%
$741,171
$741.2K
Cap Rate 9%
$576,467
$576.5K
Market Conditions
NOI Build-Up for 3,100 SF
Gross rent
$79.2K $25.56/SF
− Vacancy
−$5.1K −$1.65/SF
EGI
$74.1K $23.91/SF
− OpEx
−$22.2K −$7.17/SF
NOI
$51.9K $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%
$1,037,640
Cap Rate 7%
$741,171
Cap Rate 9%
$576,467
Alternative Uses
Best Use
Multifamily LT 5
$741.2K
$648.5K – $864.7K
NOI $51,882 @ 7.0% cap · market cap 4.07%
Second Best
Apartment 5plus
$681.0K
$595.9K – $794.5K
NOI $47,672 @ 7.0% cap · market cap 3.74%
Theoretical Best
Office A
$809.5K
$708.3K – $944.4K
NOI $56,663 @ 7.0% cap · market cap 4.44%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,142
Businesses Nearby
Explore this area
Business Placement
Demographics for 07043, NJ
14,219
Population
4,499
Households
3.2
Avg Household Size
36
Median Age
84%
College-Educated
99%
High-School Grad
2.5 sq mi
ZIP Area
5,688
Density / Sq Mi
$250,001
Median Household Income
$102,273
Median Earnings
$2,287
Median Rent
$948,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences include private outdoor space, basement laundry and storage, and dedicated garage parking.
Where is this duplex located?
The property is located at 540 Mountain Ave Montclair, NJ.
What is the asking price?
The asking price for this property is $1,275,000.
What are key features of this property?
This property features: Approximately 3,100 square feet on an 80 x 135‑foot lot; Two residences; first‑floor unit has 2 bedrooms and 1 full bath; Upper residence spans the second and third floors, with 2 second‑floor bedrooms and additional bedrooms upstairs
