deal image
235 S Harrison StEast Orange, NJ 07018
235 S Harrison St
Asset ClassMultifamily
# Units: 84Parking Spaces: 52 SpacesAccess Data Room
For Auction: 84 Units | 52 Parking Spaces | 5 Stories | 15% Upside
overview of deal

Overview

Matthews™ has been selected to exclusively market for sale this 84-unit multifamily opportunity, offering 15% upside and 12 currently vacant units. The five-story elevator building features a unit mix of studios and one-bedroom apartments, along with one two-bedroom unit, as well as 52 on-site parking spaces, on-site laundry, and approximately 1,970 square feet of rentable office/retail space on the first floor. The previous owner completed basic renovations to 81 of the 84 units between 2016 and 2019, including new cabinets, backsplashes, granite countertops, and a key-fob access system. The common areas were also substantially upgraded, including renovations to the lobby, camera/intercom system, elevator, plumbing, electrical, and heating systems, while the boiler system was replaced in 2024. Units are separately metered, with tenants responsible for cooking gas and electric, while ownership covers heat, hot water, water/sewer, and common-area electric. The property presents investors with an opportunity to acquire a well-maintained multifamily asset with meaningful rental upside, substantial on-site parking, additional commercial income potential, and immediate lease-up opportunity through the 12 vacant units. The property will be sold via auction from October 19 through October 21, with a starting bid of $2,000,000.

Investment Highlights

Value-Add Opportunity

  • Click Here For Auction Link
  • 84 Units
  • 52 on-site parking spots
  • 15% Upside in apartment rents
  • 1,970 square feet of rentable retail/office space on ground floor
  • Auctions Dates: October 19th – October 21st
  • Starting Bid: $2,000,000

Building Highlights

  • 52 Parking Spots
  • 5 Stories
  • Strong Unit Mix of Studios, 1 bedroom and 2 bedroom units
  • Over 95% of units renovated between 2016-2021
  • Laundry Onsite
  • Elevator Building
  • Upgraded common areas
  • Boiler Replaced in 2024
  • Plumbing & electric upgrade in the last 10 years
  • Separately Metered
  • Tenants pay for Electric and Cooking Gas
  • Landlord pays for Heat, Hot Water, Water/Sewer, and Common Area Electric
  • Prime Location in East Orange, NJ

Convenient Transportation

  • The building is approximately a 13-minute walk to the Brick Church Train Station, which provides a 29-minute train ride directly to midtown Manhattan.
deal gallery image
deal gallery image
deal gallery image
235 S Harrison StEast 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)

(973) 222-7413brendan.cina@matthews.com
Robert AndersonVice President of Auction Services

License #: 01738687 (CA)

(949) 402-1825robert.anderson@matthews.com
deal image

Inquire

Listing provided by LightBox Revere