Three-Unit Residential Income
76 Ella Street Bloomfield, NJ 07003
76 Ella Street, Bloomfield, NJ, 07003
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For Sale
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Three-story triplex with separate utilities, a renovated third-floor unit, and a rare detached 2-car garage.
Property Size2,430 SF
Lot Size0.09 Acres
Price / SF$320.16
Days on Market32
Property Features for 76 Ella Street
General Information
- Standard status
- Active
- Size
- 2,430 SF
- Lot size
- 0.09 Acres
- Property subtype
- Multifamily
Building Details
- Year Built
- 1928
Listing Agency
Fairclough Realtors
Listed by
Clayton Pannasch · License #1537153
Source
Crexi
Added: Jun 20 Updated: Jul 10 at 2:05 pm Checked: Jul 20 at 5:20 am
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 Fairclough Realtors
Investment Insights
Based on property information with market context.
76 Ella Street is a three-unit residential income property built in 1928. The three-story frame building totals 3,265 sf and sits on a 36 x 107 lot. The configuration includes two 2BR/1BA units and one renovated 1BR/1BA unit on the third floor. Each unit is served by separate utilities, supporting straightforward resident management and billing.
The property also includes a detached 2-car garage and an exclusive 6-car driveway, an uncommon amenity in Bloomfield’s dense residential grid. Bloomfield offers direct NJ Transit access to Penn Station via the Morristown line, and the Watsessing Avenue NJ Transit station is described as a 3-minute walk from the building.
For investors, the mix of unit sizes and the presence of a recently renovated 1BR/1BA unit can support a diversified tenant profile. The offering is also positioned around below-market rents, with the public remarks noting recent multifamily rent growth in the Bloomfield submarket since 2022 and sub-30-day vacancy at turnover. As presented, this is a residential income asset with practical day-to-day operational structure and established commuter-oriented tenancy.
The property also includes a detached 2-car garage and an exclusive 6-car driveway, an uncommon amenity in Bloomfield’s dense residential grid. Bloomfield offers direct NJ Transit access to Penn Station via the Morristown line, and the Watsessing Avenue NJ Transit station is described as a 3-minute walk from the building.
For investors, the mix of unit sizes and the presence of a recently renovated 1BR/1BA unit can support a diversified tenant profile. The offering is also positioned around below-market rents, with the public remarks noting recent multifamily rent growth in the Bloomfield submarket since 2022 and sub-30-day vacancy at turnover. As presented, this is a residential income asset with practical day-to-day operational structure and established commuter-oriented tenancy.
Key Highlights
- Three‑unit residential income property built in 1928, with 3,265 SF on a 36x107 lot
- Unit mix: two 2BR/1BA units plus a renovated third‑floor 1BR/1BA unit
- Detached 2‑car garage plus exclusive 6‑car driveway—described as rare in Bloomfield’s dense residential grid
Local Financial Insights For Multifamily LT 5
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 | $62.1k | $25.56 |
| − Vacancy | −$4.0k | −$1.65 |
| EGI | $58.1k | $23.91 |
| − OpEx | −$17.4k | −$7.17 |
| NOI | $40.7k | $16.74 |
2,430 SF · lease $25.56/SF/yr · vacancy 6.46% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$581.0K
$508.4K – $677.8K
NOI $40,669 @ 7.0% cap · market cap 5.23%
Second Best
Apartment 5plus
$533.8K
$467.1K – $622.8K
NOI $37,369 @ 7.0% cap · market cap 4.80%
Theoretical Best
Office A
$634.5K
$555.2K – $740.3K
NOI $44,417 @ 7.0% cap · market cap 5.71%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Three-story triplex with separate utilities, a renovated third-floor unit, and a rare detached 2-car garage.
Where is this triplex located?
The property is located at 76 Ella Street Bloomfield, NJ.
What is the asking price?
The asking price for this property is $778,000.
What are key features of this property?
This property features: Three‑unit residential income property built in 1928, with 3,265 SF on a 36x107 lot; Unit mix: two 2BR/1BA units plus a renovated third‑floor 1BR/1BA unit; Detached 2‑car garage plus exclusive 6‑car driveway—described as rare in Bloomfield’s dense residential grid
