22-30 S Munn Ave
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22-30 S Munn Ave
50 Unit Block of Flats For Sale East Orange, NJ 07018
Investment Highlights
- 20% upside in rents
- 68% of the units are two and three bedrooms with an average size of 1,017± SF
- 66% of the units have been upgraded
- Ability to add additional units
- In-place rents have increased 43% over the past five (5) years
- Steps from mass transit
Executive Summary
• 50 units with an average size of 912± SF
• 20% upside in rents
• Approvals in-place for an additional eight (8) basement units
• 68% of the units are two and three bedrooms with an average size of 1,017± SF
• Robust rent growth – in-place rents have increased 43% over the past five (5) years
• 66% of the units have been upgraded
• Conveniently located within a 5-minute walk to East Orange Station and a 4-minute drive to Brick Church Station, providing easy access to NYC Penn Station in 25-minutes
• Adjacent to the intersection of the Garden State Parkway and I-280 ensuring convenient connectivity to all of Northern New Jersey
• Major nearby investment with Goldman Sachs and Triangle Equities recently breaking ground on a massive mixed-use project next to the
Brick Church Station (820+ apartments, 200,000 SF of retail, 1,200-space commuter garage)
• Immediate access to lifestyle amenities in Downtown Newark such as the Prudential Center, New Jersey Performing Arts Center (NJPAC), Red Bull Arena (Harrison), various dining establishments, museums, and educational institutions such as Rutgers and Seton Hall Law School
• 20% upside in rents
• Approvals in-place for an additional eight (8) basement units
• 68% of the units are two and three bedrooms with an average size of 1,017± SF
• Robust rent growth – in-place rents have increased 43% over the past five (5) years
• 66% of the units have been upgraded
• Conveniently located within a 5-minute walk to East Orange Station and a 4-minute drive to Brick Church Station, providing easy access to NYC Penn Station in 25-minutes
• Adjacent to the intersection of the Garden State Parkway and I-280 ensuring convenient connectivity to all of Northern New Jersey
• Major nearby investment with Goldman Sachs and Triangle Equities recently breaking ground on a massive mixed-use project next to the
Brick Church Station (820+ apartments, 200,000 SF of retail, 1,200-space commuter garage)
• Immediate access to lifestyle amenities in Downtown Newark such as the Prudential Center, New Jersey Performing Arts Center (NJPAC), Red Bull Arena (Harrison), various dining establishments, museums, and educational institutions such as Rutgers and Seton Hall Law School
Property Facts
| Sale Type | Investment | Building Class | C |
| No. Units | 50 | Lot Size | 0.76 AC |
| Property Type | Residential | Building Size | 45,600 SF |
| Property Subtype | Apartment | Number of Floors | 5 |
| Apartment Style | Mid Rise | Year Built | 1994 |
| Sale Type | Investment |
| No. Units | 50 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Mid Rise |
| Building Class | C |
| Lot Size | 0.76 AC |
| Building Size | 45,600 SF |
| Number of Floors | 5 |
| Year Built | 1994 |
Unit Amenities
- Balcony
- Cable Ready
- Dishwasher
- Microwave
- Heating
- Tile Floors
- Kitchen
- Wooden Floors
- Refrigerator
- Range
- Tub/Shower
Site Amenities
- Controlled Access
- Laundry Facilities
- Lift
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 1+1 | 16 | - | 696 |
| 2+1 | 18 | - | 946 |
| 3+1.5 | 16 | - | 1,089 |
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Walk Score ®
Very Walkable (76)
PROPERTY TAXES
| Parcel Number | 05-00232-0000-00035 | Improvements Assessment | £3,231,440 |
| Land Assessment | £1,030,029 | Total Assessment | £4,261,469 |
PROPERTY TAXES
Parcel Number
05-00232-0000-00035
Land Assessment
£1,030,029
Improvements Assessment
£3,231,440
Total Assessment
£4,261,469
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22-30 S Munn Ave
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