Presenting the Walnut Street Manor, a legacy multifamily property in the heart of downtown Montclair. Available for the first time in 50+ years, this 8-unit apartment building can become the anchor of your growing real estate portfolio. With 4 different floor plans, this property offers 4 one bedroom units, and 4 studios, with shared coin-op laundry, on site parking, and a stellar location. A majority of units have been renovated and the roof is only 7 years old. 3 units remain, creating a great opportunity for future owners to add value to the property. Tenants pay for electricity for their stoves, lights and in-unit Air Conditioning. Owner pays for heat, hot water and internet. Building is well equipped with security camera system, and remote accessible front door entry system. Laundry is a smart system with Phone App capabilities. Property is 100' by 120' or .28 acres with 12 parking spaces, a beautiful front lawn, plus a garbage and maintenance shed in the back. The parking lot has pre-existing walls for a garage, which could be easily re-built. Long time tenants, very low vacancy, and MAJOR upside over time. Pro-Forma available upon request.
Other Interior Features: Concrete, Laminate, Tile, Vinyl, Wood
Exterior & Building
Stories: 3
Water Source: Public
Utilities: Cable Available, Natural Gas Available
Roof: Asphalt
Lot Features: Level
Parking: Off Street
Heat Type: Baseboard, Electric, Natural Gas
Sewer: Public Sewer
Security Features: Security System
Financial
Sales Price: $1,800,000
Real Estate Tax: $31,900/yr
Zoning: R2
136 Walnut St
Work With Us
Throughout the process, Karin offers a common-sense approach with sharp negotiating skills honed over the past three decades. Contact us today to start your home searching journey!