20 Wheeler Street

West Orange, NJ 07052

$665,000
Last Sold Price
8
Beds
4
Baths
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

Great Investment property with 8% Cap Rate. 4 unit income producing opportunity in convenient location close to highways, transportation (Including Jitney to NYC Train) and Downtown West Orange Shops and Restaurants. All units occupied, Tenants currently on Month to Month leases. Only one of 4 garages currently rented so opportunity exists for immediate additional income. Some updates to baths and kitchens and new boiler in the past 5 years. Solid income stream that could be further improved with...Great Investment property with 8% Cap Rate. 4 unit income producing opportunity in convenient location close to highways, transportation (Including Jitney to NYC Train) and Downtown West Orange Shops and Restaurants. All units occupied, Tenants currently on Month to Month leases. Only one of 4 garages currently rented so opportunity exists for immediate additional income. Some updates to baths and kitchens and new boiler in the past 5 years. Solid income stream that could be further improved with some minor upgrades. Property being conveyed in "AS IS" condition with buyer responsible for municipal requirements. Income/Expense info attached to listing. Annual Rental Income $76,200 - Expenses $20,804 - NOI $55,396.

Listing Agent

  1. Gail Testa

    Gail Testa

    Alternative Listing Agent

    Compass

    gail.testa@compass.com

    P: 973.771.8607

Property Details for 20 Wheeler Street

Directions
Northfield Ave to Wheeler
Days On Market
118

Location

Add your commute
LISTING UPDATED: 01/07/2024 03:02 AM

Property Details for 20 Wheeler Street

StatusSold
MLS #3783118
Days on Market118
Taxes$14,184 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeFourplex
MLS TypeMulti Family
Year Built1914
Lot Size0.12 AC / 5,227 SF
CountyEssex County

Location

Add your commute

Building Information for 20 Wheeler Street

Stories-Residences4Year Built1914Building Size-Lot Size0.12 AC / 5,227 SF

Payment Calculator

$4,811 per month

30 year fixed, 7.25% Interest

Principal and Interest

$3,629

Property Taxes

$1,182

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 20 Wheeler Street

Summary
Location and General Information
  • Active Days on Market: 119
  • County #: Essex
  • Town Name: West Orange Twp.
  • Block Identifier: 69
  • Listing Type: Exclusive Right to Sell
  • Color of Building: White
  • Town #: 1622.0
  • Street # Display: 20.0
  • # Parking Spaces: 4
  • County Or Parish: Essex
  • Street Name: Wheeler St
  • Zip Code: 07052-5307
  • Total Units: 4
Taxes and HOA Information
  • Assess Total Tax: *
  • Assess Amt Land Tax: *
  • Assess Amt Bldg Tax: *
  • Block ID Tax: *
  • Acres Tax: *
  • County Tax: *
  • Tax Amount: $14,184
  • Street name Tax: *
  • Zip Code Tax: *
  • Street # Tax: *
  • City Tax: *
  • Tax Amount Tax: *
  • Assessment Total: 331100.0
  • Tax ID For Property: 1622-00069-0000-00013-0000-
  • Tax Rate Amount: $4
  • Tax Rate Tax: *
  • Tax Rate Year: 2021
  • Tax Year: 2021
  • Tax Year Tax: *
  • Lot ID Tax: *
  • Lot Size Tax: *
Parking
  • Parking/Driveway Description: Blacktop, Off-Street Parking, Parking Lot-Shared
  • # Garage Spaces: 4
  • Garage Description: Detached Garage, See Remarks
Property
Lot Information
  • Lot Description: Level Lot
  • Lot Identifier: 13
  • Approximate Lot Size: 40X136
  • Total Acres: 0.12
  • Construction Date/Year Built: 1914
  • Construction Date/Year Built Des: Approximate
Property and Assessments
  • Assessment Bldg: 260500.0
  • Assessment Land: 70600.0
  • Farm Assessment: No
Utilities
  • Cooling: No Cool
  • Utilities: Electric, Gas-Natural
  • Water: Public Water
  • Water Heater: Gas
  • Heating: 1 Unit, Radiators - Steam
  • Fuel Type: Gas-Natural
  • Sewer: Public Sewer
Interior and Exterior Features
Exterior Features
  • Exterior Description: Vinyl Siding
  • Exterior Features: Deck, Enclosed Porch(es), Metal Fence
Interior Features
  • Roof Description: Flat
  • Basement: Yes
  • Basement Description: Full, Unfinished
  • Easement: Unknown
Multi Family
Unit 1 Information
  • Unit 1 Appl/Equip: Range/Oven - Gas, Refrigerator
  • Unit 1 Baths: 1.0
  • Unit 1 Bedrooms: 2
  • Unit 1 Fireplaces: 0.0
  • Unit 1 Handicap Modified: No
  • Unit 1 Levels: 1.0
  • Unit 1 Owner/Tenant Pays: Owner Pays Heat, Owner Pays Water, Tenant Pays Electric, Tenant Pays Gas
  • Unit 1 Rent: 1375.0
  • Unit 1 Room Description: Bedrooms, Eat-In Kitchen, Living Room
  • Unit 1 Rooms: 4.0
  • Unit 1 Security Deposit: 0.0
  • Unit 1 Sq Ft: 0.0
Unit 2 Information
  • Unit 2 Appl/Equip: Range/Oven - Gas, Refrigerator
  • Unit 2 Baths: 1.0
  • Unit 2 Bedrooms: 2
  • Unit 2 Fireplaces: 0.0
  • Unit 2 Handicap Modified: No
  • Unit 2 Levels: 2.0
  • Unit 2 Owner/Tenant Pays: Owner Pays Heat, Owner Pays Water, Tenant Pays Electric, Tenant Pays Gas
  • Unit 2 Rent: 1600.0
  • Unit 2 Room Description: Bedrooms, Eat-In Kitchen, Living Room
  • Unit 2 Rooms: 4.0
  • Unit 2 Security Deposit: 0.0
  • Unit 2 Sq Ft: 0.0
Unit 3 Information
  • Unit 3 Appl/Equip: Range/Oven - Gas, Refrigerator
  • Unit 3 Baths: 1.0
  • Unit 3 Bedrooms: 2
  • Unit 3 Fireplaces: 0.0
  • Unit 3 Handicap Modified: No
  • Unit 3 Levels: 1.0
  • Unit 3 Owner/Tenant Pays: Owner Pays Heat, Owner Pays Water, Tenant Pays Electric, Tenant Pays Gas
  • Unit 3 Rent: 1650.0
  • Unit 3 Room Description: Bedrooms, Eat-In Kitchen, Living Room
  • Unit 3 Rooms: 4.0
  • Unit 3 Security Deposit: 0.0
  • Unit 3 Sq Ft: 0.0
Unit 4 Information
  • Unit 4 Appl/Equip: Range/Oven - Gas, Refrigerator
  • Unit 4 Baths: 1.0
  • Unit 4 Bedrooms: 2
  • Unit 4 Fireplaces: 0.0
  • Unit 4 Handicap Modified: No
  • Unit 4 Levels: 2.0
  • Unit 4 Owner/Tenant Pays: Owner Pays Heat, Owner Pays Water, Tenant Pays Electric, Tenant Pays Gas
  • Unit 4 Rent: 1600.0
  • Unit 4 Room Description: Bedrooms, Eat-In Kitchen, Living Room
  • Unit 4 Rooms: 4.0
  • Unit 4 Security Deposit: 0.0
  • Unit 4 Sq Ft: 0.0
Multi-Family Information
  • Unit Style: Fourplex
Income & Expenses Information
  • Total Operating Expense: $20,804.00
  • Expenses Include: Heat, Insurance, Taxes
  • Net Operating Income: $55,396.00
  • Gross Operating Income: $76,200.00
Rental
Rental Information
  • Home Warranty: false

Property History for 20 Wheeler Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 20 Wheeler Street

Taxable ValueLand$70,600Additions$260,500Total$331,100
Tax Record2022$14,691 ($1,224 / month)
Home Facts
Beds0Total Finished SqFt3,236 SqFtAbove Grade Finished SqFt3,236 SqFtStories2Lot Size5,441 SqFtStyleSingle Family ResidenceYear Built1914ZoningB-2CountyESSEXAPN22 00069-0000-00013

Schools near 20 Wheeler Street

This home is within West Orange Public School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 7 to 8
Public - 9 to 12
Public - PK to 5
Rating
School
Distance
Hazel Avenue Elementary School
PublicK to 5

Roosevelt Middle School
Public7 to 8

West Orange High School
Public9 to 12

Washington Elementary School
PublicPK to 5

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

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