Asking Price $799,999
Rare fully occupied investment opportunity in Nutley offering immediate income and long-term upside. 98 King Street is a well-maintained 3-family property featuring three separate 1-bedroom, 1-bath residences, each with dedicated 1-car parking and outdoor space â€â€쳌 a major value-add in today’s rental market. With stable occupancy already in place, this is a true plug-and-play asset for investors seeking reliable cash flow from day one. The property offers strong rental appeal with practical layouts, parking for every unit, complimentary shared washer/dryer access in the basement, and complimentary garage storage, all in a desirable residential location close to local shops, dining, parks, major roadways, and NYC transportation options. A smart addition to any portfolio, this fully leased multifamily currently generates $4,945/month in rental income, with leases secured through May/June 2027, a current cap rate of approximately 5.6%, and modest rental upside of approximately $75–$100/month per unit in its current well-kept condition, with the potential for even stronger rents over time through optional cosmetic updates. With separate gas and electric meters, manageable known expenses, and parking-driven tenant demand, 98 King Street delivers the rare combination of stability, income, convenience, and long-term rental appeal. Property is being sold as-is. Contact us today to schedule a private viewing!
| Year Built: | 1900 |
| Garage: | Attached,Detached |
| Lot Desc: | Regular |
| Heating/Cooling Type: | Baseboard,Gas |
| Siding/Exterior: | Aluminum, Brick |
| Fireplaces: |
Listing Broker:
Coldwell Banker, Hoboken
201-716-0220
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Information herein is deemed reliable but not guaranteed.
