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Rare Legal Boarding House in Prime South Orange - Turnkey Income Property! An exceptional investment opportunity awaits with this rare, legal Boarding house, a unique designation that ensures consistent monthly income (Approx $14,000/month) and offers flexibility to rent to individuals or groups.The 1st floor Unit 1 features 4 spacious bedrooms, a large living/dining area, and an eat-in kitchen. A private entrance makes this space ideal for groups seeking a secure and comfortable living arrangement. A separate, 1st floor studio apartment with kitchenette, full bath, and private entrance offers another excellent rental opportunity. The 2nd and 3rd floors (considered Unit 3). contain 9 individually rented bedrooms, fully occupied, with several long-term tenants and no vacancies during Ownership ensuring a reliable income stream. Additional on-property amenities include shared laundry facilities and off-street parking, a highly sought-after feature in this desirable location.Situated just down the block from South Orange Village's vibrant shops and restaurants, a short distance from Seton Hall University, and adjacent to the direct train to NYC, this property is perfectly positioned for high tenant demand. Catering to a wide variety of tenants, this income-generating property is a rare and valuable find in one of New Jersey's most desirable rental markets. CAN BE SOLD AS A PACKAGE with 122 MILLIGAN (MLS #3979734)
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Architectural Type - Victorian, Multi Floor Unit
Parking - Blacktop, Off-Street Parking
Basement - Unfinished, Walkout, Laundry Room, Storage Room, Utility Room, Walkout
Appliances - Carbon Monoxide Detector, Cooktop - Gas, Dishwasher, Dryer, Refrigerator, Wall Oven(s) - Gas, Washer
Rooms List - Kitchen: Eat-In Kitchen
• 2nd Floor Rooms: 4 Or More Bedrooms, Bath Main
• 3rd Floor Rooms: 4 Or More Bedrooms, Bath Main
• Ground Level: 4 Or More Bedrooms, Bath Main, Bath(s) Dining Room, Kitchen, Living Room
Roofing - Asphalt Shingle
Cooling - Window A/C(s)
Heating - Baseboard - Hotwater, Gas-Natural
Sewer - Public Sewer
Water - Public Water
Additional Utilities - Electric, Gas-Natural
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