Active

120 Milligan Pl

South Orange Village Twp NJ, 07079

$1,450,000


Active

14 Beds

4 Baths

Multi-family

Built in 1854

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 ($14,000/month with 3% increase in June) 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. Whether catering to students, commuters, or professionals, 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 (COMING SOON BUT CAN BE SHOWN IMMEDIATELY)

3945738

MLS ID

February 12, 2025

Listed

February 12, 2025

Updated

Interior Features

Total Stories

3


Bedrooms

14


Total Bathrooms

4


Full Bathrooms

4


Fireplace

No


Cooling

No


Heating

Yes


Heating Description

Baseboard, Natural Gas

Exterior/Building Features

Lot Size

0.17 Acres


Architectual Style

3-Three Story


Roof

Asphalt


Sewer

Public Sewer


Security

Smoke Detector(s)

School Information

High School

COLUMBIA

Other Property Details

Taxes

$21,730


Tax Frequency

Annually


Garage

No


Parking

Shared Driveway


View

No


County

Essex


Water Source

Public


Pool

No


Utilities

Natural Gas Available

Courtesy of COLDWELL BANKER REALTY with KATHERINE ELLIOTT,
Listing Contact:  

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