120 Milligan Pl, South Orange Village Twp., NJ
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)
Reviews
Kate was absolutely fantastic! She is an absolute pleasure to work with and really made the process a breeze. She is extremely knowledgable about Maplewood, South Orange, and the surrounding area....
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06/17/2024 - user671030
Kate Elliot was the realtor I worked with to sell my home in South Orange. No one knows the Maplewood/South Orange market better than she! I was a hesitant seller, not always easy to deal with. Kate...
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06/10/2023 - user86799152
Kate is truly an INCREDIBLE Realtor! From the very first time we met her at our house of 24 years until we moved into our beautiful new home a number of months later, we felt incredibly cared for by...
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08/23/2022 - mslowenthal
Kate Elliot is hands down the best realtor in Maplewood, South Orange, and surrounding areas. She's thorough, detailed, and extremely knowledgeable. She also lives locally, which I feel adds to any...
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08/09/2022 - jenastarkey
Kate is outstanding agent. My wife and I were happy to experience both selling and buying through her at the same time. Kate went above and beyond in our few months working together. The highlight...
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08/02/2022 - zuser20160229161204985
We couldn't have asked for a better realtor than Kate, she is fantastic at what she does and always a pleasure to interact with. This is the 2nd home we have purchased with Kate. Each time Kate made...
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07/14/2022 - GeorgieSacramento
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