GREAT PRICE with a 4.00% Cap Rate on Current Rents! We are pleased to present a One-Of-A-Kind Investment Opportunity in a prime Montclair neighborhood. This listing features TWELVE Spacious 2 Bedroom + 1 Bathroom Units (Approximately 837 Square Feet Each). The property consists of SIX Single-Story Detached Duplexes on a Large 30,800 Square Foot Lot, just a couple blocks from the Montclair Town Center. Property has been Meticulously Maintained under the same ownership for Over 35 Years! There are minimal landlord expenses as units are separately metered for Gas and Electricity. All units have central A/C, Dual Pane/Low-E Glass Windows, Garage Parking, Private Patios and Laundry Hook-Ups. Property has Strong In-Place Rents with Realistic Rental Upside. ALL Six Duplexes are separately parceled allowing a Buyer to utilize Residential 30 Year Fixed Financing. Many Recent Capital Improvements include Copper Plumbing - Horizontal & Vertical, and a New Roof in 2016. Tenants can appreciate being within a short commute to Downtown Montclair and the major freeways such as 10, 71 and 60. This is a Great Asset located in a Limited Inventory Market.
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