NJ
Essex
Montclair Twp.
07042
70 N Willow St
70 N Willow St, Montclair Twp., NJ 07042
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Listing Type
Multi Family
Listing Status
Active
12
$1,149,000

Home Details for 70 N Willow St

Price
$1,149,000
Type
Residential Income
Bedrooms
10
Bathrooms
4.0
Square feet
3564
Year built
1907
County
Essex
Total rooms
14
Garage
Basement
Full, Unfinished
Days on site
10
MLS Listing#
3999658
Property Description

PRIME MONTCLAIR OPPORTUNITY! Live Smart or Invest Wise!Legal 2-family on desirable North Willow St! 3,563 SF total living space on 4,636 SF lot. Built 1907, effective age 10 yrs, well-maintained UNIT #1 (1st Floor) - VACANT & READY: 4 bed, 1 bath, 1,493 SF. Perfect for owner-occupant or select your ideal tenant!UNIT #2 (2nd Floor) - PREMIUM INCOME: 6 bed, 3 bath, 2,071 SF. Rare large unit with strong rental demand.OWNER-OCCUPANT OPPORTUNITY: Live for just $2,161/mo effective cost! With simple $10K-$15K upgrades to Unit #2 (kitchen, baths, finishes), rent at $5,000/mo while tenant covers 70% of your total housing expenses. Comparable homes rent for $4,500-$6,500/mo - you live for less than half that while building equity in a $1.149M asset!INVESTOR VALUE-ADD: Current income $100K+/yr. Strategic $12.5K renovation increases NOI to $69,688 (6.06% cap rate) and creates $31K-$51K instant equity. Self-managed cash flow $930/mo with 15-17% total annual returns including appreciation & tax benefits.Property tax $14,345/yr. Flood zone AE - Estimated Flood insurance $1,300-$1,700/yr (Verify on FEMA website)LOCATION: Walk to schools, downtown Montclair, NYC transit. Established neighborhood with strong appreciation history.Perfect for savvy buyers seeking affordable homeownership OR value-add investors! Don't miss this rare legal 2-family with 6-bed premium unit!

Property Features
  • Heating Information
    • Forced Air
    • Natural Gas
  • Basement
    • Full
    • Unfinished
  • Cooling Information
    • Window Unit(s)
  • Water Features
    • Public
  • Utilities
    • Natural Gas Available
  • Parking
    • On Street
Listing Courtesy: IMPROOV HOMES - 973-743-9333
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Market statistics compiled from data from Garden State MLS.
EXIT PLATINUM REALTY
200 Claremont Ave, Montclair, NJ 07042
Erica Campbell
Franchisee
Office
973 746 4777
Agent
973 277 3965
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