Won't last long! This beautiful 1Family property could be a fix and flip for investors or buy fix and hold for passive income. Approved plans pending for 2-family conversion. property will be worth $575,000 after renovation. Over $225,000 worth of equity in there when you purchase itDepending on your contractor you can spend $80,000 to $100,000 to renovate this property based on what updates you prefer to do. This property is also borderline of South Orange New Jersey, which is a very upscale appreciating area. We predict values to go up another hundred thousand dollars within a year or two. Also, this property has the potential to be converted into a 2family property 5 bedrooms, which will include the 1st Floor apartment with 2big bedrooms, bathroom and share kitchen/living room.2nd floor apartment will be a 3bedroom Duplex with humongous Master Bedroom and Bathroom in the attic, 2 bedrooms below, share kitchen / living room with a bathroom and home office. The basement also have plenty of overhead with a bathroom in there. 4bathrooms can be placed in this property, bringing the value up even more. Adding Solar, energy to this property will bring the value up another 15%. Great deal won't last long taking the heights offers.
Property Type :
Single Family
County :
Essex
Style :
Single Family
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ByOwner last updated this listing 05/01/2024 @ 16:19
MLS: 3829354
LISTED BY: , YOUR TOWN REALTY
SOURCE: Garden State MLS - New Jersey
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.
