120 Milligan Pl
South Orange Village Twp, NJ 07079
Price: $1,450,000
GSMLS: 3945745Type: Single Family
Style: Victorian
Beds: 14
Baths: 4 Full
Garage: No
Year Built: 1854
Acres: 0.17
Property Tax: $21,730
Description
Rare Legal Boarding House In Prime South Orange - Turnkey Income Property! An Exceptional Investment Opportunity Awaits With This Rare, Legal Boarding House, A Unique Designation That Ensures Consistent Monthly Income ($14,000/month With 3% Increase In June) And Offers Flexibility To Rent To Individuals Or Groups.the 1st Floor Unit 1 Features 4 Spacious Bedrooms, A Large Living/dining Area, And An Eat-in Kitchen. A Private Entrance Makes This Space Ideal For Groups Seeking A Secure And Comfortable Living Arrangement. A Separate, 1st Floor Studio Apartment With Kitchenette, Full Bath, And Private Entrance Offers Another Excellent Rental Opportunity. The 2nd And 3rd Floors (considered Unit 3). Contain 9 Individually Rented Bedrooms, Fully Occupied, With Several Long-term Tenants And No Vacancies During Ownership Ensuring A Reliable Income Stream. Additional On-property Amenities Include Shared Laundry Facilities And Off-street Parking, A Highly Sought-after Feature In This Desirable Location.situated Just Down The Block From South Orange Village's Vibrant Shops And Restaurants, A Short Distance From Seton Hall University, And Adjacent To The Direct Train To Nyc, This Property Is Perfectly Positioned For High Tenant Demand. Whether Catering To Students, Commuters, Or Professionals, This Income-generating Property Is A Rare And Valuable Find In One Of New Jersey's Most Desirable Rental Markets. Can Be Sold As A Package With 122 Milligan (coming Soon But Can Be Shown Immediately)
Rooms Sizes
Kitchen:
First
Dining Room:
First
Living Room:
First
Family Room:
n/a
Den:
n/a
Bedroom 1:
n/a
Bedroom 2:
n/a
Bedroom 3:
n/a
Bedroom 4:
n/a
Room Levels
Basement:
Laundry Room, Storage Room, Utility Room, Walkout
Ground:
4 Or More Bedrooms, Bath Main, Bath(s) Other, Dining Room, Kitchen, Living Room
Level 1:
n/a
Level 2:
4 Or More Bedrooms, Bath Main
Level 3:
4 Or More Bedrooms, Bath Main
Level Other:
n/a
Room Features
Kitchen:
Eat-In Kitchen
Dining Room:
n/a
Master Bedroom:
n/a
Bath:
n/a
Interior Features
Square Foot:
n/a
Year Renovated:
n/a
Basement:
Yes - Unfinished, Walkout
Full Baths:
4
Half Baths:
0
Appliances:
Carbon Monoxide Detector, Cooktop - Gas, Dishwasher, Dryer, Refrigerator, Wall Oven(s) - Gas, Washer
Flooring:
n/a
Fireplaces:
No
Fireplace:
n/a
Interior:
n/a
Exterior Features
Garage Space:
No
Garage:
n/a
Driveway:
Blacktop, Off-Street Parking
Roof:
Asphalt Shingle
Exterior:
Vinyl Siding
Swimming Pool:
n/a
Pool:
n/a
Utilities
Heating System:
Baseboard - Hotwater
Heating Source:
Gas-Natural
Cooling:
Window A/C(s)
Water Heater:
n/a
Water:
Public Water
Sewer:
Public Sewer
Services:
n/a
Lot Features
Acres:
0.17
Lot Dimensions:
n/a
Lot Features:
n/a
School Information
Elementary:
n/a
Middle:
n/a
High School:
COLUMBIA
Community Information
County:
Essex
Town:
South Orange Village Twp.
Neighborhood:
n/a
Application Fee:
n/a
Association Fee:
n/a
Fee Includes:
n/a
Amenities:
n/a
Pets:
n/a
Financial Considerations
List Price:
$1,450,000
Tax Amount:
$21,730
Land Assessment:
$264,900
Build. Assessment:
$601,200
Total Assessment:
$866,100
Tax Rate:
2.51
Tax Year:
2024
Ownership Type:
Fee Simple
Listing Information
MLS ID:
3945745
List Date:
02-12-2025
Days On Market:
53
Listing Broker:
COLDWELL BANKER REALTY
Listing Agent:
Request More Information
Shawn and Diane Fox
RE/MAX American Dream
3108 Route 10 West
Denville, NJ 07834
Call: (973) 277-7853
Web: MorrisCountyLiving.com
