513 Stetson St, City Of Orange Twp., NJ, 07050-1302

Rare opportunity to pickup a 5 unit mixed use property DIRECTLY ACROSS THE STREET FROM THE TRAIN in a redevelopment zone! With 3 apartments in the multifamily house occupied with stable tenants (2 are month to month, 1 has a lease), and approximately 3,000Sqft of commercial space split between two structures. Apartments consist of two 2bed/1bath units, and one 1 bed/1bath unit. Commercial spaces are currently vacant. Front flex space has small office, restroom, main room, basement access, and connects to larger high ceiling spaces with overhead doors accessible from the side. Rear storage space extends behind the Bravo Super Market and can be reopened to the main commercial spaces or operated independently. Property falls in redevelopment zone, across a quiet side street from the staircase leading to the train station, and within blocks of recently announced luxury rental developments. Town has indicated they would allow site to be developed into 13 units, or simply improve and use in current layout. Rear commercial building's flat roof has active leaks and is being sold as is. Intensive environmental testing was performed when sellers acquired the property in 2019 and no ground contamination was found. Half mile to West Orange Main St Area, East Orange's Downton, 3 miles to Montclair's Downtown, and 2 Miles to South Orange's Downtown. Half Mile to Rt280 and 2 miles to GSP.