271 Mt Pleasant Ave West Orange, NJ 07052-4159
Multi-family development in the PURD District only. Common open space. Developed recreational facilities. Uses ancillary and accessory to the above. Retail and service facilities for the project only with no signs or exterior advertising. Permitted Density. The density shall be computed on the basis of the entire contiguous tract owned by the applicant. The…
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
PURD · West Orange, NJMulti-family development in the PURD District only. Common open space. Developed recreational facilities. Uses ancillary and accessory to the above. Retail and service facilities for the project only with no signs or exterior advertising. Permitted Density. The density shall be computed on the basis of the entire contiguous tract owned by the applicant. The density of the development need not be uniformly applied to the entire site for which an application for a Planned Development is submitted, provided that all site design objectives and staging limitations established elsewhere in this section are adhered to by the applicant. The maximum density in the RC and PURD Districts shall be four dwelling units per gross acre. Open Space Credit. "If a portion of land being part of a contiguous area, or adjacent to a P.U.R.D. or Cluster Zone is dedicated or restricted by the owner as a transitional strip, buffer or common open space, then the density for the area of the lands remaining in the P.U.R.D. zone or Cluster Zone may be computed by the Planning Board on the basis of the total acreage owned by the proposed developer to the allocations of such land for the transitional strip, buffer or common open space. In no case shall such transitional strip, buffer or common open space exceed 30% of the total land area included as part of the application." If the area has been used in the calculation of open spaces or buffering elsewhere, the area cannot be used again. Explanation: This provision allows, under certain circumstances, areas adjacent to P.U.R.D. or Cluster Zones to be included in the density computations for the P.U.R.D. or Cluster project. Common Open Space. Common open space shall be provided as part of any Planned Residential District. The minimum amount of common open space to be provided shall be calculated and determined as follows: The total amount of common open space within a Planned Residential District, including sidewalks, decorative paved areas, swimming pools, tennis courts and other recreational facilities, shall be not less than 20% of the total tract being considered. The maximum impervious coverage (which term includes all roof areas, curbing, streets, roads, driveways and paved parking areas, but which does not include sidewalks, recreational areas, such as tennis courts, swimming pools, etc. or decorative paved areas) shall not exceed 50% of the total tract being considered.
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.