Multifamily Property for Sale in East Orange, NJ

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: East Orange, NJ 07017

Description

Marcus & Millichap is pleased to present Walnut Garden, a 41-unit, four-story brick apartment building located at 129 N Walnut Street in East Orange, New Jersey. The property offers investors a stabilized, cash-flowing multifamily asset with meaningful upside through operational efficiencies and rent repositioning. Walnut Garden maintains consistently high occupancy with predictable annual turnover, providing stable in-place income while allowing for periodic rent resets upon re-leasing. The property benefits from separately metered utilities and durable pre-war construction. Located less than half a mile from both the East Orange and Brick Church NJ Transit stations, the asset provides direct access to Newark and Manhattan and sits within a rapidly improving, transit-oriented corridor. With nearby large-scale redevelopment and below-market in-place rents, Walnut Garden represents an opportunity to acquire scale, stability, and long-term growth in a supply-constrained Northern New Jersey submarket. Investment Highlights: • 41-Unit Stabilized Multifamily Asset Four-story pre-war brick building with durable construction, efficient layouts, and strong in-place occupancy providing immediate cash flow. • Consistently High Occupancy The property maintains strong occupancy levels with predictable annual turnover, supporting ongoing rent growth through re-leasing at market levels. • Clear Value-Add Upside Through Rent Repositioning In-place rents average approximately $1,262/unit with 15–25% upside through turnover, renovation, and improved management. • Separately Metered Utilities Tenants pay for individual electric and gas, limiting ownership exposure; landlord covers water, sewer, and common areas. • Transit-Oriented Location Less than 0.5 miles to both East Orange and Brick Church NJ Transit stations with direct access to Newark and NYC. • Supply-Constrained, Improving Submarket Surrounded by significant redevelopment including The Crossing at Brick Church, Aura 240,

Market Context

This multifamily in East Orange, NJ is listed for sale. It is offered at an approximate 6.5% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 68 days. Compare it against other multifamily listings for sale in East Orange, NJ — <a href="/search/sale/multifamily/new-jersey/east-orange">view the full market</a>.

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