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163 N Park St

12 Unit Block of Flats £1,333,497 (£111,125/Unit) 6.47% Net Initial Yield East Orange, NJ 07017

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Investment Highlights

Buildable Parking Lot

Below Market Rents

Executive Summary

This value-add investment opportunity features two well-maintained buildings comprising 6 two-bedroom, one-bathroom apartments, and 6 versatile retail spaces. All tenants are on month-to-month leases and many are paying below-market rent. Electric and gas utilities are individually metered and paid for by the tenants.
Tenants pay most utilities
Significant Upside

Flyer - East Orange - 159 & 163-167 North Park St

Property Facts

Price	£1,333,497	Apartment Style	Low Rise
Price Per Unit	£111,125	Building Class	C
Sale Type	Investment or Owner User	Lot Size	0.14 AC
Net Initial Yield	6.47%	Building Size	9,500 SF
No. Units	12	Number of Floors	3
Property Type	Residential	Year Built	1945
Property Subtype	Apartment Light Industrial Light Manufacturing General Retail Storefront Retail/Residential Industrial Warehouse	Parking Ratio	10/1,000 SF

Price	£1,333,497
Price Per Unit	£111,125
Sale Type	Investment or Owner User
Net Initial Yield	6.47%
No. Units	12
Property Type	Residential
Property Subtype	Apartment Light Industrial Light Manufacturing General Retail Storefront Retail/Residential Industrial Warehouse
Apartment Style	Low Rise
Building Class	C
Lot Size	0.14 AC
Building Size	9,500 SF
Number of Floors	3
Year Built	1945
Parking Ratio	10/1,000 SF

Unit Amenities

Air Conditioning
Heating

Kitchen
Wooden Floors

Refrigerator
Oven

Range

Site Amenities

24 Hour Access
Controlled Access

Security System
Tenant Controlled HVAC

On-Site Retail
Public Transportation

Walk-Up
Smoke Detector

1 of 1

PROPERTY TAXES

Parcel Number	05-00912-0000-00005	Improvements Assessment	£647,374
Land Assessment	£110,680	Total Assessment	£758,054

PROPERTY TAXES

Parcel Number

05-00912-0000-00005

Land Assessment

£110,680

Improvements Assessment

£647,374

Total Assessment

£758,054

zoning

Zoning Code	IND-1 District (IND-1 District (Mixed Industrial/Commercial) Industrial and light industrial uses, including manufacturing, assembling, processing and warehousing)
IND-1 District (IND-1 District (Mixed Industrial/Commercial) Industrial and light industrial uses, including manufacturing, assembling, processing and warehousing)