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Listed by Travis B. Tripucka The Agency One Rock-Ridgewood
$ 775,000
Est. payment | /mo
5 Beds
4 Baths
$ 775,000
Est. payment | /mo
5 Beds
4 Baths
Key Details
Property Type Multi-Family
Sub Type 2 Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 26038910
Style 2 Family
Bedrooms 5
Full Baths 3
Half Baths 1
Property Sub-Type 2 Family
Property Description
Verona. Two-family. 50 x 175 lot. Delivered vacant. That combination is rare in this town. Offered by the family and priced with the work in mind, this 1923 home has solid original bones, but it is dated, tired and sold as-is. The sellers will not make any repairs. That is the point. You are not paying for someone else's renovation or taste. You are paying for the land, the layout and the address. Unit 1 lives across the first and second floors: living room with a brick hearth and wood stove, formal dining room, kitchen with breakfast nook, 3 bedrooms and 2 full baths. Unit 2 owns the third floor with 2 bedrooms or 1 plus a living room, a full bath, its own kitchen and a private rear entry. Full basement with a half bath, laundry, sump pump and plumbing in place for a future shower. Separate electric meters, gas hot water baseboard heat, a detached 2-car garage for extra income or storage, a long driveway, a rear deck and a deep, level yard. Here is the play. Pull the carpets, lay new floors, redo the kitchens, add recessed lighting and central air. Ask about renovation loans that roll the work into one mortgage. Then live in one unit and let the other carry a real piece of the payment, or rent both. Per recent area leases, an updated Unit 1 could rent for an est. $3,300 to $3,800/mo and Unit 2 for $1,900 to $2,400/mo. Minutes to Route 23, Verona Park, the Town Center and downtown Montclair, with NJ Transit buses and Montclair-Boonton Line trains for the Manhattan commute.
Location
State NJ
County Essex
Interior
Laundry Basement
Exterior
Garage Spaces 2.0
Nearby Locations
Jamie Kline
Real Estate Broker/Owner License ID: 1647030
+1(732) 337-6992 | jamie@prolegacyrealty.com