61-63 Chestnut Street West Orange, NJ 07052
Three-story building offers six rental units, including five two-bedroom units and one one-bedroom unit, plus four off-street spaces.
Property Features for 61-63 Chestnut Street
General Information
- Standard status
- Active
- Size
- 6,615 SF
- Lot size
- 0.11 Acres
- Property subtype
- Multifamily
Building Details
- Year Built
- 1915
Listing office Horvath & Tremblay (201) 215-1801
Listing date Jul 13, 2026
Source Crexi
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Investment Insights
Based on property information with market context.
The building is located at 61-63 Chestnut Street in West Orange, NJ, within convenient reach of the township’s primary commercial corridors, employment centers, and lifestyle amenities. Regional connectivity is supported by nearby Interstate 280, Route 10, and the Garden State Parkway, providing access throughout Northern New Jersey and connections toward Newark and New York City.
Set on a 0.11-acre parcel, the property’s unit mix and parking arrangement make it a straightforward rental-income candidate for buyers seeking an owner-occupied or investment multifamily asset with on-site parking.
Key Highlights
- Three‑story multifamily building (built 1915) with 6 total rental units
- Unit mix: five 2‑bedroom/1‑bath units plus one 1‑bedroom/1‑bath unit
- 6,615 sq ft gross living area on a 0.11‑acre parcel
Local Financial Insights For Apartment 5plus
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 | $198.5k | $30.00 |
| − Vacancy | −$13.5k | −$2.04 |
| EGI | $185.0k | $27.96 |
| − OpEx | −$83.2k | −$12.58 |
| NOI | $101.7k | $15.38 |
