Three-Bedroom Apartment with Renovated
89 Watsessing Ave # 1, Bloomfield, NJ 07003
For Sale
New
Contact for pricing
A main-level primary suite and two upstairs bedrooms create a split-level apartment layout.
Property Size1,200 SF
Price / SF$2.50
Days on Market2
Property Features for 89 Watsessing Ave # 1
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Amenities
renovated kitchen
stainless steel appliances
granite countertops
central AC/heat
shared backyard access
Wood
Gas-Natural
First
1 Bedroom,Bath Main,Foyer,Kitchen,Living Room
2 Bedrooms,Bath(s) Other
Second
3
Beam Ceilings
Public Water
40 X 100
0.09
Deck,Patio,FencVnyl
Building Details
Year Built
Listing Agency:
(551) 239-8040
Listed By:
Andrea Lew
Source:
Skyrealtyintl
Added: Nov 8
Last Checked: Nov 9 at 8:28AM
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 Andrea Lew
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Investment Insights
Based on property information with market context.
This 1,200-square-foot apartment has three bedrooms and two bathrooms arranged across two levels. The primary suite is on the first floor, with two additional bedrooms and a full bathroom upstairs. The kitchen has been renovated and includes stainless steel appliances and granite countertops; central air conditioning and heat are also provided. The building dates to 1911.
One dedicated parking space is included, and residents have access to a shared backyard. Aldi is a two-minute walk away, while Watsessing Train Station is less than two blocks from the property, with direct train service to New York City.
One dedicated parking space is included, and residents have access to a shared backyard. Aldi is a two-minute walk away, while Watsessing Train Station is less than two blocks from the property, with direct train service to New York City.
Key Highlights
- 1,200‑square‑foot apartment with three bedrooms and two bathrooms
- Renovated kitchen with stainless steel appliances and granite countertops
- First‑floor primary suite; two additional bedrooms and a full bath upstairs
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,454
Suggested Prices Based on Cap Rates
Cap Rate 5%
$369,080
$369.1K
Cap Rate 7%
$263,629
$263.6K
Cap Rate 9%
$205,044
$205.0K
Market Conditions
NOI Build-Up for 1,200 SF
Gross rent
$36.0K $30.00/SF
− Vacancy
−$2.4K −$2.04/SF
EGI
$33.6K $27.96/SF
− OpEx
−$15.1K −$12.58/SF
NOI
$18.5K $15.38/SF
Area
Essex County, NJ
Vacancy
6.80%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$369,080
Cap Rate 7%
$263,629
Cap Rate 9%
$205,044
Alternative Uses
Best Use
Apartment 5plus
$263.6K
$230.7K – $307.6K
NOI $18,454 @ 7.0% cap
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$313.3K
$274.2K – $365.6K
NOI $21,934 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Location Intelligence
Trade Area within ½ mile
1,237
Businesses Nearby
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Business Placement
Demographics for 07003, NJ
52,955
Population
21,692
Households
2.4
Avg Household Size
38
Median Age
49%
College-Educated
93%
High-School Grad
5.3 sq mi
ZIP Area
9,992
Density / Sq Mi
$98,805
Median Household Income
$56,465
Median Earnings
$1,775
Median Rent
$447,600
Median Home Value
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Market
Average Price Trend$/SF for Multifamily properties in Bloomfield, NJ
Properties on Market for Multifamily properties in Bloomfield
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - A main-level primary suite and two upstairs bedrooms create a split-level apartment layout.
Where is this multifamily property located?
The property is located at 89 Watsessing Ave # 1 Bloomfield, NJ.
What are key features of this property?
This property features: 1,200‑square‑foot apartment with three bedrooms and two bathrooms; Renovated kitchen with stainless steel appliances and granite countertops; First‑floor primary suite; two additional bedrooms and a full bath upstairs
