Three-Unit Income Property with
For Sale
$799,500
60 Hawthorne Ave, East Orange, NJ 07018
Turnkey three-unit property with fully finished basement and separate utilities, including 3 gas and 3 electric meters.
Property Size3,534 SF
Lot Size0.29 Acres
Price / SF$226.23
Days on Market188
Property Features for 60 Hawthorne Ave
General Information
Standard status
Active
Size
3,534 SF
Lot size
0.29 Acres
Property subtype
Multi-Family
Additional Details
Utilities to Site
Yes
Multifamily Units
3
Building Details
Year Built
1939
Construction
vinyl siding
Tenancy
Multi
Listing Agency:
REALTYLINE
Listed By:
RAZ HARARI
(201) 220-7874
Source:
Luminancerealty
Added: Apr 20
Changed: Oct 12
Last Checked: Oct 5 at 10:23PM
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 REALTYLINE
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Investment Insights
Based on property information with market context.
This three-unit residential income property includes 13 total rooms configured across three separate apartments. The first unit offers 2 bedrooms and 2.5 bathrooms. The second and third units each provide 2 bedrooms and 1 full bathroom. The building has a fully finished basement and is sided in vinyl. Separate metering includes 3 gas meters, 3 electric meters, and 1 water meter.
Set on an oversized 85 X 148 lot (approx.) the home also features a 2-car detached garage and a large driveway designed to support ample parking. The property is located in East Orange near public transportation, shopping, and major commuter routes.
With its defined unit layout, separate utilities, and completed basement, the property is positioned for an owner-occupant or investor seeking a multi-family residence with independent services for each unit.
Set on an oversized 85 X 148 lot (approx.) the home also features a 2-car detached garage and a large driveway designed to support ample parking. The property is located in East Orange near public transportation, shopping, and major commuter routes.
With its defined unit layout, separate utilities, and completed basement, the property is positioned for an owner-occupant or investor seeking a multi-family residence with independent services for each unit.
Key Highlights
- 3‑family property with 13 total rooms, 6 bedrooms, and 5 total bathrooms (4 full and 1 partial)
- Unit mix: first unit has 2 beds and 2.5 baths; second and third units each have 2 beds and 1 full bath
- Separate utilities: 3 gas meters, 3 electric meters, and 1 water meter
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$59,146
Cap Rate
7.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,182,920
$1.2M
Cap Rate 7%
$844,943
$844.9K
Cap Rate 9%
$657,178
$657.2K
Market Conditions
NOI Build-Up for 3,534 SF
Gross rent
$90.3K $25.56/SF
− Vacancy
−$5.8K −$1.65/SF
EGI
$84.5K $23.91/SF
− OpEx
−$25.3K −$7.17/SF
NOI
$59.1K $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%
$1,182,920
Cap Rate 7%
$844,943
Cap Rate 9%
$657,178
Alternative Uses
Best Use
Multifamily LT 5
$844.9K
$739.3K – $985.8K
NOI $59,146 @ 7.0% cap · market cap 7.40%
Second Best
Apartment 5plus
$776.4K
$679.3K – $905.8K
NOI $54,346 @ 7.0% cap · market cap 6.80%
Theoretical Best
Office A
$922.8K
$807.5K – $1.08M
NOI $64,596 @ 7.0% cap · market cap 8.08%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Lease Details
3
Residential units
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,366
Businesses Nearby
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Business Placement
Demographics for 07018, NJ
30,429
Population
13,107
Households
2.3
Avg Household Size
36
Median Age
25%
College-Educated
86%
High-School Grad
1.7 sq mi
ZIP Area
17,899
Density / Sq Mi
$59,039
Median Household Income
$39,630
Median Earnings
$1,410
Median Rent
$314,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Turnkey three-unit property with fully finished basement and separate utilities, including 3 gas and 3 electric meters.
Where is this triplex located?
The property is located at 60 Hawthorne Ave East Orange, NJ.
What is the asking price?
The asking price for this property is $799,500.
What are key features of this property?
This property features: 3‑family property with 13 total rooms, 6 bedrooms, and 5 total bathrooms (4 full and 1 partial); Unit mix: first unit has 2 beds and 2.5 baths; second and third units each have 2 beds and 1 full bath; Separate utilities: 3 gas meters, 3 electric meters, and 1 water meter
