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103 Central Ave 7 Unit Apartment Building $1,503,634 CAD ($214,805 CAD/Unit) 7.90% Cap Rate Orange, NJ 07050
Investment Highlights
- Major Upside Potential in Rents
- Very Stable Commercial Tenants
- Township of Orange allows for 4% increases per year
- 2 and 3 Bedroom Apartments
- Direct Across the Street from Essex County's New Monte Irvin Park
- Ability to Increase Curb Appeal with minor cosmetic improvements
Executive Summary
This two-story, mixed-use building contains 5 apartments and 2 commercial units. It is constructed of concrete block and frame and is fully occupied. Two commercial spaces on the ground floor and five residential apartments above. The commercial units are leased to long-term tenants who have benefited from the property’s high visibility and steady traffic count and growth in the area.
The residential component consists of (2) Three-bedroom apartments and (3) Two-bedroom apartments. All residential units have been renovated within the past 10 years. Utilities are fully separated, and three of the five apartments are equipped with in-unit HVAC systems.
Additional features include:
• Separate Gated Entrance for Residential Units Located in the rear of the property
• On-site parking for four vehicles
• Located directly across from the brand new Monte Irvin Park, expected to significantly increase foot traffic and enhance neighborhood appeal
The residential component consists of (2) Three-bedroom apartments and (3) Two-bedroom apartments. All residential units have been renovated within the past 10 years. Utilities are fully separated, and three of the five apartments are equipped with in-unit HVAC systems.
Additional features include:
• Separate Gated Entrance for Residential Units Located in the rear of the property
• On-site parking for four vehicles
• Located directly across from the brand new Monte Irvin Park, expected to significantly increase foot traffic and enhance neighborhood appeal
Financial Summary (Actual - 2025) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
| Price | $1,503,634 CAD | Building Class | C |
| Price Per Unit | $214,805 CAD | Lot Size | 0.11 AC |
| Sale Type | Investment | Building Size | 4,466 SF |
| Cap Rate | 7.90% | Average Occupancy | 100% |
| No. Units | 7 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1891/2020 |
| Property Subtype | Apartment |
| Price | $1,503,634 CAD |
| Price Per Unit | $214,805 CAD |
| Sale Type | Investment |
| Cap Rate | 7.90% |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 4,466 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1891/2020 |
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Very walkable
80/100
Moderately drivable
60/100
Good public transit
70/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 17-03304-0000-00043 | Improvements Assessment | $606,978 CAD |
| Land Assessment | $408,648 CAD | Total Assessment | $1,015,626 CAD |
Property Taxes
Parcel Number
17-03304-0000-00043
Land Assessment
$408,648 CAD
Improvements Assessment
$606,978 CAD
Total Assessment
$1,015,626 CAD
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103 Central Ave
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