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$ 1,149,000
Est. payment /mo
Open Sat 2PM-4PM
70 N Willow St Montclair Twp., NJ 07042
10 Beds
4 Baths
3,564 SqFt
Open House
Sat Dec 13, 2:00pm - 4:00pm
Sun Dec 14, 1:00pm - 3:00pm
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 3,564 sqft
Price per Sqft $322
MLS Listing ID 3999658
Style 3-Three Story
Bedrooms 10
Full Baths 4
Year Built 1907
Annual Tax Amount $13,884
Tax Year 2024
Property Description
PRIME MONTCLAIR OPPORTUNITY! Live Smart or Invest Wise!Legal 2-family on desirable North Willow St! 3,563 SF total living space on 4,636 SF lot. Built 1907, effective age 10 yrs, well-maintained UNIT #1 (1st Floor) - VACANT & READY: 4 bed, 1 bath, 1,493 SF. Perfect for owner-occupant or select your ideal tenant!UNIT #2 (2nd Floor) - PREMIUM INCOME: 6 bed, 3 bath, 2,071 SF. Rare large unit with strong rental demand.OWNER-OCCUPANT OPPORTUNITY: Live for just $2,161/mo effective cost! With simple $10K-$15K upgrades to Unit #2 (kitchen, baths, finishes), rent at $5,000/mo while tenant covers 70% of your total housing expenses. Comparable homes rent for $4,500-$6,500/mo - you live for less than half that while building equity in a $1.149M asset!INVESTOR VALUE-ADD: Current income $100K+/yr. Strategic $12.5K renovation increases NOI to $69,688 (6.06% cap rate) and creates $31K-$51K instant equity. Self-managed cash flow $930/mo with 15-17% total annual returns including appreciation & tax benefits.Property tax $14,345/yr. Flood zone AE - Estimated Flood insurance $1,300-$1,700/yr (Verify on FEMA website)LOCATION: Walk to schools, downtown Montclair, NYC transit. Established neighborhood with strong appreciation history.Perfect for savvy buyers seeking affordable homeownership OR value-add investors! Don't miss this rare legal 2-family with 6-bed premium unit!
Location
State NJ
County Essex
Rooms
Basement Full, Unfinished
Interior
Heating Gas-Natural
Cooling 2 Units, Window A/C(s)
Heat Source Gas-Natural
Exterior
Exterior Feature Vinyl Siding
Parking Features On-Street Parking
Utilities Available Gas-Natural
Roof Type Asphalt Shingle
Building
Sewer Public Sewer
Water Public Water
Architectural Style 3-Three Story
Others
Senior Community No
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Listed by IMPROOV HOMES