KW Metropolitan

3-Three Story

422 Valley Rd

Montclair Twp. , NJ 07043

MLS#: 3996114

$1,399,999

Status: Active
Listing number: 3996114
Listing provided by: FOURTE INTERNATIONAL
Listing agent phone: None
Last update: 7 days ago
On site: 7 days ago
Browse Properties
Upper - Residential Income

Property

Beds

7

Full Baths

3

1/2 Baths

None

Year Built

1922

Sq.Footage

3,480

Passed a bank inspection with no issues! 3 rents, separate utilities, 3 car garage. Meticulously maintained property offers a projected gross annual income of $103,500 and an estimated net of $77,900, resulting in a 4.6% cap rate. This rare gem sits on a corner lot in highly sought-after Upper Montclair, just blocks from the Watchung train station with a direct line to NYC. Low fixed costs and strong net returns make it an ideal opportunity for both investors and owner-occupants. The 1st and 2nd floors exude charm with hardwood floors, fireplaces, French doors, and private porches. The 3rd floor unit is a fully town-compliant 1 bedroom boarder unit showcasing a modern open layout with vaulted ceilings, skylights, hardwood floors and a sun-drenched living space. Additional highlights include separate utilities for each unit, two laundry rooms, five storage areas in a sparkling clean basement, and a bonus three-car garage with a total of six off-street parking spaces. The property has been extensively upgraded with a roof featuring 40-year Timberline shingles and plywood, a new driveway, thermal windows, updated siding and insulation, a new sewer line, and auto-feeding boilers. There's no oil tank or asbestos on the property. This is a rare, turn-key opportunity to own a well-maintained, income-producing property in one of Montclair's most desirable neighborhoods. Property is being sold as is

Features & Amenities

Interior

  • Other Interior Features

    Cathedral Ceiling(s)

  • Total Bedrooms

    7

  • Bathrooms

    3

  • Basement YN

    YES

  • Cooling YN

    YES

  • Cooling

    Window Unit(s)

  • Heating YN

    YES

  • Heating

    Baseboard, Natural Gas

  • Pet friendly

    N/A

Exterior

  • Garage

    Yes

  • Garage spaces

    3

  • Construction Materials

    Vinyl Siding

  • Parking

    Off Street, Detached

  • Patio and Porch Features

    Porch

  • Pool

    No

Area & Lot

  • Lot Features

    Corner Lot, Level

  • Lot Size(acres)

    0.17

  • Property Type

    Residential Income

  • Property Sub Type

    Multi Family

  • Architectural Style

    3-Three Story

Price

  • Sales Price

    $1,399,999

  • Tax Amount

    22663.0

  • Zoning

    R2

  • Sq. Footage

    3, 480

  • Price/SqFt

    $402

HOA

  • Association

    No

School District

  • Elementary School

    N/A

  • Middle School

    N/A

  • High School

    MONTCLAIR

Property Features

  • Stories

    3

  • Sewer

    Public Sewer

  • Tax Lot

    *

  • Water Source

    Public

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Location

County

Essex

Elementary School

Middle School

High School

MONTCLAIR

Listing Courtesy of None , FOURTE INTERNATIONAL

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PatrickBolger

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(973) 945-9979

patrickbolger@kw.com


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Passed a bank inspection with no issues! 3 rents, separate utilities, 3 car garage. Meticulously maintained property offers a projected gross annual income of $103,500 and an estimated net of $77,900, resulting in a 4.6% cap rate. This rare gem sits on a corner lot in highly sought-after Upper Montclair, just blocks from the Watchung train station with a direct line to NYC. Low fixed costs and strong net returns make it an ideal opportunity for both investors and owner-occupants. The 1st and 2nd floors exude charm with hardwood floors, fireplaces, French doors, and private porches. The 3rd floor unit is a fully town-compliant 1 bedroom boarder unit showcasing a modern open layout with vaulted ceilings, skylights, hardwood floors and a sun-drenched living space. Additional highlights include separate utilities for each unit, two laundry rooms, five storage areas in a sparkling clean basement, and a bonus three-car garage with a total of six off-street parking spaces. The property has been extensively upgraded with a roof featuring 40-year Timberline shingles and plywood, a new driveway, thermal windows, updated siding and insulation, a new sewer line, and auto-feeding boilers. There's no oil tank or asbestos on the property. This is a rare, turn-key opportunity to own a well-maintained, income-producing property in one of Montclair's most desirable neighborhoods. Property is being sold as is

422 Valley Rd

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