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For more information on this property, contact Rampinelli Team at 973-228-5525 or katkrannich@rampinelliteam.com

191 Bellevue Ave
Montclair Twp., New Jersey NJ 07043-1859
Price: $4,995,000
Listing ID 3817034
Status Under Contract
SqFt 15,852
Acres 0.460
Subdivision Upper Montclair
Year Built 1927

Property Description:

RARE opportunity to own a 21 unit apartment building in Upper Montclair. Located steps from Upper Montclair's shopping, restaurants and Midtown Direct train and bus service, this building features sun filled apartments with high ceilings, parquet floors, some stained glass windows, six 5 room apartments, six 4 room apartments and 9 3 room apartments, including 3 garden units. Brick and stucco building. Coin operated washers and dryers in the basement as well as bicycle racks. Parking for 19 cars in the rear. Fully rented building with all apartments having 1 year leases. Recent roof work completed and new boiler installed recently. Some newer windows. Income and expense figures available. Huge upside rent potential. Landlord pays gas, all apartments have separate electric, super onsite.

Primary Features

Location: Freestanding
For Sale Or Lease: For Sale
Sale Includes: Building Only
Expenses Include: Electricity, Gas/Oil, Insurance, Snow Removal, Taxes, Trash, Water/Sewer
Permitted Use: Apartment Building
Number of Units: 21
Construction: Brick/Block, See Remarks
Exterior Description: Brick/Block, See Remarks
Roof Description: Fiberglass
Equipment Available: Fire Alarm, Smoke Detector
Heating: 1 Unit, Radiators - Steam
Cooling: See Remarks
Sewer: Public Sewer
Water: Public Water
Utilities: Gas In Street, Gas-Natural

Interior Features

Basement: Yes
Basement Description: Full
Floors: Laminate, Parquet

External Features

Approximate Lot Size: 20000 SQ FT
Construction Date/Year Built Description: Approximate
Easement: Unknown
Lot Description: Level Lot
Parking/Driveway Description: Blacktop
Primary Property Type: Apartment Complex

Location Information

Block Identifier: 2602
County Number: 16
Lot Identifier: 21
Subdivision: Upper Montclair
Town Number: 1613
Zoning Compliance: yes
Zoning: NC

Financial Details

Assessment Building: 1606500
Assessment Land: 855000
Assessment Total: 2461500
Gross Operating Income: 442599
Lease Information: See Remarks
Net Operating Income: 272666
Owner Pays: Gas, Heat, Hot Water, Maintenance-Lawn, Sewer, Snow Removal, Trash Removal, Water
Ownership Type: Fee Simple
Possession: Immediate
Tax Amount: 79531
Tax ID For Property: 1613-02602-0000-00021-0000-
Tax Rate: 3.231
Tax Rate Year: 2021
Tax Year: 2021
Tenant Pays: Electric
Total Operating Expense: 173532
Utilities Paid By: Other

Additional

Available: Immediately
Fuel Type: Gas-Natural
Number of 1 Bedroom Units: 9
Number of 2 Bedroom Units: 6
Number of Apartments: 21
Number of Stories: 3
Number of Units w/Full Bath: 21

Zoning Info


Listing Courtesy of COMPASS NEW JERSEY LLC

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Contact - Listing ID 3817034

Rampinelli Team

32 Valley Road
Montclair, NJ 07042
Phone: 973-228-5525
973-783-6900 x220

Data services provided by IDX Broker
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