422 Valley Rd Active Save Request In-Person Tour Request Virtual Tour
Montclair Twp.,NJ 07043
Key Details
Property Type Multi-Family, Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 3,480 sqft
Price per Sqft $402
Subdivision Upper
MLS Listing ID 3966513
Style 3-Three Story
Bedrooms 7
Full Baths 3
Year Built 1922
Annual Tax Amount $22,663
Tax Year 2024
Lot Size 7,405 Sqft
Property Description
Recently bank inspected with no issues, this meticulously maintained 3 unit property with separate utilities and a 3 car garage offers a projected gross annual income of $103,500 and an estimated net of $77,900, resulting in a 4.6% cap rate. This rare gem sits on a corner lot in highly sought-after Upper Montclair, just blocks from the Watchung train station with a direct line to NYC. Low fixed costs and strong net returns make it an ideal opportunity for both investors and owner-occupants. The 1st and 2nd floors exude charm with hardwood floors, fireplaces, French doors, and private porches. The 3rd floor unit is a fully town-compliant 1 bedroom boarder unit showcasing a modern open layout with vaulted ceilings, skylights, hardwood floors and a sun-drenched living space. Additional highlights include separate utilities for each unit, two laundry rooms, five storage areas in a sparkling clean basement, and a bonus three-car garage with a total of six off-street parking spaces. The property has been extensively upgraded with a roof featuring 40-year Timberline shingles and plywood, a new driveway, thermal windows, updated siding and insulation, a new sewer line, and auto-feeding boilers. There's no oil tank or asbestos on the property. This is a rare, turn-key opportunity to own a well-maintained, income-producing property in one of Montclair's most desirable neighborhoods. Property is being sold as is.
Location
State NJ
County Essex
Zoning R2
Rooms
Basement Full, Walkout
Interior
Interior Features Carbon Monoxide Detector, Cathedral Ceiling, Fire Extinguisher, See Remarks, Shades, Smoke Detector, Tile Floors, Wood Floors
Heating Gas-Natural
Cooling Window A/C(s)
Heat Source Gas-Natural
Exterior
Exterior Feature Vinyl Siding
Parking Features Detached Garage, Garage Parking
Garage Spaces 3.0
Utilities Available Gas-Natural
Roof Type Asphalt Shingle
Building
Lot Description Corner, Level Lot
Sewer Public Sewer
Water Public Water
Architectural Style 3-Three Story
Schools
High Schools Montclair
Others
Senior Community No