209 William StEast Orange, NJ 07017

This exceptional 26-unit apartment building, located at 209 William St, East Orange, NJ 07017, presents a compelling investment opportunity. The property boasts a strong current NOI of $309,993, yielding a 6.20% cap rate, with a pro-forma NOI of $402,207 and a pro-forma cap rate of 8.04%. Built in 1950 and fully renovated in 2014, this three-story, all-brick building sits on a 0.43-acre lot and comprises a desirable mix of studio, one, and two-bedroom apartments. Each unit features spacious kitchens and cozy living areas, with a combination of vinyl flooring and tiled bathrooms and kitchens. The asking price is $5,000,000, translating to $192,307.69 per unit. The property benefits from its convenient location, less than a mile from East Orange Station, providing easy access to NYC via train (approximately 30 minutes). Nearby amenities include several major roadways (Garden State Parkway and I-78), recreational parks (Branch Brook Park and Monte Irvin Park), and a variety of commercial establishments, including retail, restaurants, and bars. Significant upside potential exists, with over $300 in potential rent increases per unit. This well-maintained property offers a solid foundation for immediate income and future growth. The building's strong performance and prime location make it an attractive investment for discerning buyers.