Four-Unit Victorian Property with
For Sale
$1,375,000
96 Hillside Ave, Nutley, NJ 07110
MULTI_FAMILY - Nutley Twp., NJ
Property Size4,450 SF
Lot Size0.20 Acres
Price / SF$308.99
Days on Market72
Property Features for 96 Hillside Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
9
Bathrooms
5
Full bathrooms
4
Half bathrooms
1
Rooms
Bathroom 1, Bathroom 3, Bedroom 9, Basement, Bedroom 4, Bedroom 1, Bathroom 2, Bedroom 7, Bedroom 2, Bedroom 5, Bathroom 4, Bedroom 3, Bedroom 6, Bedroom 8
Parking
8
Patio and Porch features
Porch, Patio
Interior features
Carbon Monoxide Detector, Fire Alarm Sys, Fire Extinguisher, High Ceilings, Smoke Detector, Tile Floors, Vinyl-Linoleum Floors
Exterior features
Curbs, Enclosed Porch(es), Metal Fence, Partially Fenced, Patio, Sidewalk, Storm Window(s)
Fencing
Partial, Fenced
Middle school
JOHN H. WALKER
High school
NUTLEY
Directions
96 Hillside Ave Nutley NJ 07110. Between Chestnut st. and Vreeland Ave .
Standard status
Active
Size
4,450 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
21214
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Hot Water(Heating), Other (Heating)
Water source
Public
Building Details
Year built
1900
Number of units
4
Roof type
Shingle, Flat
Listing Agency:
YOUR TOWN REALTY
(855) 600-2465
Listed By:
RONNIE GLOMB · License #790072
(855) 600-2465
Added: Jun 3
Changed: Aug 13
Last Checked: Aug 13 at 1:06PM
MLS# 4032063
Copyright © 2026 Garden State MLS, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1900, this legal four-unit property includes a mix of individual units and a large two-story duplex with loft space. The building offers 4,450 square feet on a 0.2-acre lot, with separate utilities serving each unit. Unit 4 encompasses 1,600 square feet, while Unit 2 was renovated in 2024. Interior features include high ceilings, tile and vinyl flooring, and a basement. The property also includes a porch, patio, enclosed porch, fencing, sidewalks, and public water and sewer.
A private 8-car parking lot accompanies the building, with three spaces currently rented to neighborhood residents. The property is located at 96 Hillside Ave in Nutley Twp., Essex County, approximately 12 miles from Midtown Manhattan. Electrical service and panels have been upgraded to 200 amp, and the property has passed state and local inspections.
A private 8-car parking lot accompanies the building, with three spaces currently rented to neighborhood residents. The property is located at 96 Hillside Ave in Nutley Twp., Essex County, approximately 12 miles from Midtown Manhattan. Electrical service and panels have been upgraded to 200 amp, and the property has passed state and local inspections.
Key Highlights
- Legal 4‑unit property with 4,450 square feet on a 0.2‑acre lot
- Unit 4 is a 1,600 square foot two‑story duplex with loft space
- Private 8‑car parking lot; three spaces are currently rented
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$74,476
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.42%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,489,520
$1.5M
Cap Rate 7%
$1,063,943
$1.1M
Cap Rate 9%
$827,511
$827.5K
Market Conditions
NOI Build-Up for 4,450 SF
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.
Gross rent
$113.7K $25.56/SF
− Vacancy
−$7.3K −$1.65/SF
EGI
$106.4K $23.91/SF
− OpEx
−$31.9K −$7.17/SF
NOI
$74.5K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,489,520
Cap Rate 7%
$1,063,943
Cap Rate 9%
$827,511
Alternative Uses
Best Use
Multifamily LT 5
$1.06M
$931.0K – $1.24M
NOI $74,476 @ 7.0% cap · market cap 5.42%
Second Best
Apartment 5plus
$977.6K
$855.4K – $1.14M
NOI $68,432 @ 7.0% cap · market cap 4.98%
Theoretical Best
Office A
$1.16M
$1.02M – $1.36M
NOI $81,339 @ 7.0% cap · market cap 5.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
50%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,031
Businesses Nearby
Explore this area
Business Placement
Demographics for 07110, NJ
30,149
Population
11,981
Households
2.5
Avg Household Size
41
Median Age
50%
College-Educated
94%
High-School Grad
3.4 sq mi
ZIP Area
8,867
Density / Sq Mi
$115,215
Median Household Income
$67,621
Median Earnings
$1,698
Median Rent
$489,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Historic four-unit residence with a duplex layout, separate utilities, and dedicated on-site parking.
Where is this quadplex located?
The property is located at 96 Hillside Ave Nutley, NJ.
What is the asking price?
The asking price for this property is $1,375,000.
What are key features of this property?
This property features: Legal 4‑unit property with 4,450 square feet on a 0.2‑acre lot; Unit 4 is a 1,600 square foot two‑story duplex with loft space; Private 8‑car parking lot; three spaces are currently rented
