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60 S Munn AveEast Orange, NJ 07018
Robert Towers
Asset ClassMultifamily
# Units: 206Parking Spaces: 116 SpacesAccess Data Room
For Auction: 206 Units | 116 Parking Spaces | 87 Vacant Units | 14% Upside
overview of deal

Overview

Matthews™ has been selected to exclusively market for sale this 206-unit multifamily opportunity, offering approximately 14% upside. The 12-story building features a strong unit mix of studios, one-, two-, and three-bedroom apartments, along with 116 on-site parking spaces and on-site laundry. Over the last 10 years, 146 of the 206 units have undergone basic renovations, while 60 units remain unrenovated, providing additional value-add potential. Recent capital improvements include an elevator repair completed in 2025 and a roof repair completed within the last 10 years. Units are separately metered, with tenants responsible for electric and cooking gas, while ownership covers heat, hot water, water/sewer, and common-area electric. The property is ideally located in East Orange, New Jersey, and offers investors the opportunity to acquire a large-scale multifamily asset with meaningful rental upside and additional renovation potential. The property will be sold via auction from October 19 through October 21, with a starting bid of $5,000,000.

Investment Highlights

Value-Add Opportunity

  • Click Here For Auction Link
  • 206 Units
  • 14% Upside
  • 87 vacant units
  • 70% units went through a basic renovation in the last 10 years
  • Auctions Dates: October 19th – October 21st
  • Starting Bid: $5,000,000

Building Highlights

  • 116 Parking Spots
  • 12 Stories
  • Strong Unit Mix of Studios, 1's , 2's, and 3 beds
  • 4 three bed duplex units over 1,000 square on the top floor
  • Laundry Onsite with potential for higher income
  • Elevator Repaired in 2025
  • Roof Repaired within the Last 10 Years
  • Separately Metered
  • Tenants pay for Electric & Cooking Gas
  • Landlord pays for Heat, Hot Water, Water/Sewar, and Common Area Electric
  • Prime Location in East Orange, NJ

Convenient Transportation

  • The building is approximately a 13-minute walk to the East Orange Train Station, which provides a 28-minute train ride directly to midtown Manhattan.
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60 S Munn AveEast Orange, NJ 07018

Listing Team

David Ferber, CPASenior Vice President & Director

License #: 01469842 (NJ)

(201) 218-9156david.ferber@matthews.com
Brendan CinaAssociate

License #: 2562455 (NJ)

(908) 255-1779brendan.cina@matthews.com
Robert AndersonVice President of Auction Services

License #: 01738687 (CA)

(949) 544-1722robert.anderson@matthews.com
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