The Crossroads on Grove & 10 South Grove St | 25 Freeway Dr
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The Crossroads on Grove & 10 South Grove St 25 Freeway Dr
48 Unit Block of Flats For Sale East Orange, NJ 07018
Investment Highlights
- 30 year PILOT on The Crossroads
- NYC views
- Ample parking
- 8-minute walk to the East Orange Train Station
Executive Summary
The subject properties consist of a newly built, Class A, 48-unit apartment complex and a mid-rise, 25-unit apartment building
with on-site parking for 73 cars. These properties offer a great opportunity to acquire new and prewar construction properties on 2 separate lots.
- Great unit mix (over 64% 2-bedroom units at 25 Freeway Drive and over 60% 2-bedroom units at 10 South Grove Street)
- Ample parking (73 parking spaces with lifts to increase density)
- 8-minute walk to the East Orange Train Station which provides access to Newark and NY Penn Stations. The location is only a 22-minute train ride to NY Penn Station.
- Great location next to Route 280
with on-site parking for 73 cars. These properties offer a great opportunity to acquire new and prewar construction properties on 2 separate lots.
- Great unit mix (over 64% 2-bedroom units at 25 Freeway Drive and over 60% 2-bedroom units at 10 South Grove Street)
- Ample parking (73 parking spaces with lifts to increase density)
- 8-minute walk to the East Orange Train Station which provides access to Newark and NY Penn Stations. The location is only a 22-minute train ride to NY Penn Station.
- Great location next to Route 280
Property Facts
| Sale Type | Investment | Lot Size | 0.70 AC |
| No. Units | 48 | Building Size | 27,365 SF |
| Property Type | Residential | Number of Floors | 5 |
| Property Subtype | Apartment | Year Built | 1992 |
| Apartment Style | Mid Rise | Parking Ratio | 2.56/1,000 SF |
| Building Class | C | Opportunity Zone |
Yes
|
| Sale Type | Investment |
| No. Units | 48 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Mid Rise |
| Building Class | C |
| Lot Size | 0.70 AC |
| Building Size | 27,365 SF |
| Number of Floors | 5 |
| Year Built | 1992 |
| Parking Ratio | 2.56/1,000 SF |
| Opportunity Zone |
Yes |
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Public Transportation
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 1+1 | 32 | - | 720 |
| 2+2 | 16 | - | 936 - 1,057 |
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PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | £1,199,026 | |
| Land Assessment | £692,155 | Total Assessment | £1,891,182 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
£692,155
Improvements Assessment
£1,199,026
Total Assessment
£1,891,182
zoning
| Zoning Code | N/Av, East Orange |
| N/Av, East Orange |
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The Crossroads on Grove & 10 South Grove St | 25 Freeway Dr
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