Off Market Montclair NJ Multifamily Deal

[Eric Panecki]

2 family in red hot Montclair NJ. Directly across the street from the train station and in a very desirable neighborhood. 

Property is rent ready as is. Need some work to get maximum value.

Asking $610,000. you could easily buy this and put it back on the market for $700,000. Nothing on the street has sold for less than $800,000 in the last 6 months. Average days on market in the area is about 30 days. 

I have a contractors estimate for $75,000 or about $32,500 per unit. Not a major job like I said rent ready as is. ARV is anywhere between $850,000-$825,000 no problem. Comps are hard to find as there is not many 2 families in the area. The best comparable is .22 miles away on the same street, 2 more bathrooms just sold for $848,000.

I have comps, rehab estimate, pictures and additional information upon request.

Very close to Jersey City, Newark, Hoboken, and New York City.

• Purchase Price: $610k
• Rehab: $50 - $75k
• ARV: $825k - $850k

Perfect a quick sell, flip, and buy and hold.

Deal will not last. Serious inquiries only. If you would like more information drop your email and phone number.