99 Valley Rd 12 Unit Apartment Building $1,789,823 CAD ($149,152 CAD/Unit) 6.45% Cap Rate Montclair, NJ 07042
INVESTMENT HIGHLIGHTS
- 99 Valley Road is a nice, clean multifamily building with long term tenants (eight have been more than 2 yrs, six have been more than 3 yrs).
- It is in walking distance to Whole Foods, Quick Check, and Bloomfield Avenue shops and restaurants.
- The property is well maintained and easy to rent. There is an on site operator, weekly cleaning services, and landscaping.
- The unit mix caters to full studio apartments with kitchens, and individual units with shared kitchens and baths.
EXECUTIVE SUMMARY
Welcome to 99 Valley Road, a great 12-unit multifamily in Montclair. This is a turnkey investment of a licensed Class A rooming house. The property consists of three studio apartments and nine private single-occupancy rooms. The studio apartments have a full kitchen and bath, while the single rooms have no kitchen and shared bath. There are no temporary tenants as all units are on one-year leases; most tenants have been there for two to three years or more. The property is easy to rent and maintain and is currently producing $83k NOI.
Located on Valley Road, close to Bloomfield Avenue, the property boasts many upgrades, including a new gas furnace, new chimney liner, a re-paved parking lot for six cars, (60x130 Lot Size), and a new washer and double dryer in the laundry area; all units have been painted, and many have new flooring, circuit breaker electrical panel. The common hallway and bathrooms have also been updated. Maintenance-free vinyl siding is on the exterior. 99 Valley Road is up to date with state registration with no violations.
Located on Valley Road, close to Bloomfield Avenue, the property boasts many upgrades, including a new gas furnace, new chimney liner, a re-paved parking lot for six cars, (60x130 Lot Size), and a new washer and double dryer in the laundry area; all units have been painted, and many have new flooring, circuit breaker electrical panel. The common hallway and bathrooms have also been updated. Maintenance-free vinyl siding is on the exterior. 99 Valley Road is up to date with state registration with no violations.
DATA ROOM Click Here to Access
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
PROPERTY FACTS
| Price | $1,789,823 CAD |
| Price Per Unit | $149,152 CAD |
| Sale Type | Investment |
| Cap Rate | 6.45% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.18 AC |
| Building Size | 3,324 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1892 |
| Parking Ratio | 1.81/1,000 SF |
| Zoning | R2 - Residential |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 3 | - | - |
1 of 1
Walk Score®
Walker's Paradise (92)
PROPERTY TAXES
| Parcel Number | 13-02301-0000-00041 | Total Assessment | $686,694 CAD |
| Land Assessment | $293,050 CAD | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $393,643 CAD | Tax Year | 2024 |
CONTACT
-
Adam Wizner - ASE Valley Realty Llc
