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Located a mere 25 minutes outside of New York City, 1 & 2 Noll Place is made up of two buildings directly across the street from each other with a combined total of 36-units located in the residential Vailsburg section of Newark, New Jersey. The buildings offer a good unit mix of well-maintained apartments. A Potential Investor Will Achieve Immediate returns of close to 15% on their initial investment. The potential buyer will have the opportunity to take advantage of the opportunistic conditions in the capital markets and exceptionally low interest rates by purchasing quality assets in a market that will continue to increase in value in the coming years. Newark has been committed to a proactive revitalization effort to spur local business, new development and attract major corporate businesses from around the New York Metropolitan area. This and proximity to New York City, main highways and public transportation make this a highly desirable location for an investment property.

  • 100% occupied
  • 25 minutes to New York City
  • One of the only multi-family options in the surrounding area
  • On-site superintendent
  • Well-maintained and in excellent condition with a stable tenant base
  • Located in a quiet residential neighborhood on the border with South Orange and Maplewood and a short distance from Seton Hall University
  • NJ Transit offers bus service down the block and rail service at the South Orange Station, providing rail service to all of the Tri-State area
  • Offering access to Routes 1and 9, Interstate 280, Interstate 78, the Garden State Parkway and the NJ Turnpike (Interstate 95)
Property Type:
Multi-Family
Building Type:
Mid-Rise
# of Units:
36 Units
Unit Mix:
4 studios
29 one-bedroom
3 two-bedroom
Blocks / Lots:
4121 / 7 & 8
4/22 / 1 & 2
Year Built:
1954
County:
Essex
Offering Price:
$2,195,000

Buidling Id:- BUILD1523

Price:- $ 200,000,000

Buidling Address

344 Villa, Syndey, Australia

Agent Details

John Parker
123 456 7890

Availabilty
5 2 2 1
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Essex County

Essex County is the industrial and fi nancial hub of New Jersey. County-wide, total real property values exceed $38 billion. With the opening of the New Jersey Performing Arts Center (NJPAC) in Newark, Essex rivals New York City as a cultural center for music and dance. A county-sponsored baseball stadium has offered minor league baseball since 1998.

With Newark-Liberty International Airport and Port Newark within its borders, Essex County is a major national transportation hub with a superior network of rail, highway, air and sea transportation and is home to one of the world’s largest containerization shipping ports.

Essex County, with 22 municipalities ranging over 127 square miles and a total population of over 765,000, is New Jersey’s second most populous county. The Essex County economy continues to shift from manufacturing to a service-oriented economy and many corporate giants such as PSE&G, Bell Atlantic, ADP, and Prudential have their headquarters located in Essex County.

Newark

Newark is the largest city in New Jersey and the third oldest city in the United States after Boston and New York. Its close proximity to Manhattan and superior transportation infrastructure makes Newark the ideal place to work, live and play. During the last few years, Newark has seen a plethora of new development in the downtown area which has solidifi ed Newark’s reputation as the true Renaissance City.

Major Developments Completed or Under Construction:

  • The hugely successful, world-class New Jersey Performing Arts Center
  • Eagles and Bears Riverfront Stadium, home to the Newark Bears minor league baseball team
  • 50-acre University Heights Science Park, a leading research and development park for the life sciences and technology industries
  • Extension of the city subway and light rail service
  • Rail connection to the airport
  • Expansion of Newark Liberty International Airport, the closest major airport to Manhattan
  • The new Prudential Center, home to the NJ Devils professional ice hockey team, has had over one million visitors since opening in October 2007
  • Re-development of Military Park, Lincoln Park and the waterfront to commence shortly

New Housing Initiatives: New housing initiatives are noticeable throughout the city, including the downtown area and adjoining neighborhoods.

  • 1180 Raymond Blvd., a new 317-unit luxury high-rise apartment located two blocks west of Newark’s Penn Station
  • The Village at Newark, an 812-unit apartment complex at the corner of Central Avenue and Lock Street, adjacent to NJIT
  • Rutgers University and the University of Medicine and Dentistry’s two new residential dormitories
  • NJPAC & Dranoff Properties, a joint venture to develop mixed-use residential over retail adjacent to the New Jersey Performance Arts Center
  • Tucker Development is planning a 400,000 square foot mixed-use development on northern Broad Street near the Broad Street Train Station