122 Milligan Pl, South Orange, NJ 07079
- Residential income homes
- 3,518 SF
Current Use by Public Records
- Residential income homes
Property Details for 122 Milligan Pl
- Property type
- Residential income homes
- Property subtype
- Dormitories
Description
Exceptional investment opportunity in South Orange, NJ. This three-story, Class B multifamily property boasts 11 spacious bedrooms and 3 full bathrooms, totaling 3,518 square feet. Currently leased to Seton Hall University students, generating a substantial $9,500 monthly gross rental income ($114,000 annually). The property underwent renovations in 2022 and offers a compelling 7.90% cap rate. Located minutes from Seton Hall University, this property presents a strong cash flow potential. This single-family home is available for purchase individually or as part of a package deal with the adjacent property at 120 Milligan Pl. The asking price is $1,250,000, translating to $355.32 per square foot and $1,250,000 per unit. This is a rare opportunity to acquire a high-yield, student housing property in a desirable location. The property's strong rental income and proximity to Seton Hall University make it an attractive investment for both seasoned and new investors seeking a stable and profitable venture. The property is situated at 122 Milligan Pl, South Orange, NJ 07079, in Essex County.
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Location Insight
- Map
- Local Demand
- City
- South Orange
- County
- Essex
- State
- New Jersey
- Longitude
- -74.257198462574
- Latitude
- 40.743748111102
