π Orange NJ | 30+ Property Portfolio β¨ | π 31 Lots, 3 Multis π‘
An expansive portfolio of 34 properties spread throughout Orange, NJ, including 31 lots and 3 multi-family homes, presents a once-in-a-lifetime opportunity to acquire 34 parcels in Essex County in one purchase. Notably, 278 Park Ave and 213 Watchung Ave can be built up to 8 stories, adding significant development potential to the portfolio. Buyers offering to purchase the entire package will take priority over those wishing to split the portfolio, though offers for specific parcels will still be considered. We estimate this portfolio to have an ABV/ARV of $18M+.
NEW: RHB has put together a research package equating to over 10 hours of effort to expedite your due diligence process. Please text Nick Godwin or Nick Walsh "Orange Research Package" with your email for the full summary.
NEW: We have completed professional photography and tank sweeps on all 31 parcels of land. For the multifamily properties, we have also completed home inspections. To gain access to these files, text Nick Godwin or Nick Walsh "Orange Research Package" with your email for the full summary.
Nick Godwin: 973-606-9133; Nick Walsh: 908-499-9128
ASKING: $3,399,999
β¨City Of Orange Zoning Linksβ¨
New: RDV Map (redevelopment zone) - Use this link to reference specific zones
City of Orange - Zoning Map Click Here
City of Orange - City of Orange - Zoning Map Click Here Display Map Click Here
New: Table of Permitted Uses Orange NJ
City of Orange - Zoning Regs & Zoning Maps (Pages 65-142) Click Here
City Of Orange - Development Regulations (Full) Click Here
Redevelopment Plans Click Here
β¨Property Highlightsβ¨
30+ properties consisting of 3 existing Multies and various sized lots
19 properties in OZs and 17 properties in RDVs
β¨What is an OZ?β¨
An Opportunity Zone is a designation created by the Tax Cuts and Jobs Act of 2017, aimed at fostering economic development and job creation in distressed communities by providing tax benefits to investors. In real estate, investing in Opportunity Zones can offer several benefits:
- Deferred Taxes: Investors can defer taxes on any prior gains invested in a Qualified Opportunity Fund (QOF) until the date on which the investment in a QOF is sold or exchanged, or December 31, 2026, whichever comes first.
- Step-Up in Basis: If the investment in the QOF is held for longer than 5 years, there is a 10% exclusion of the deferred gain. If held for more than 7 years, the exclusion is 15%.
- No Tax on Appreciation: If the investor holds the investment in the QOF for at least 10 years, they are eligible for an increase in basis of the QOF investment to its fair market value on the date that the QOF investment is sold or exchanged.
In New Jersey, as in other states, these zones are strategically selected to boost investment in areas that would benefit from revitalization. This can significantly enhance property values over time, making them attractive investment opportunities. For specific Opportunity Zones in NJ and more detailed information, consulting local economic development resources or the New Jersey government's official websites would be beneficial.
β¨Portfolio Highlightsβ¨
2 Family Flip $325k Click Here
2 Family Flip $275K Click Here
8,499 Sqft Lot in R1 OZ for New Construction $185k Click Here
9,640 Sqft Lot in MX2 for New Constuction $185k Click Here
7,178 Sqft Lot in MX2 for New Constuction $175k Click Here
5,998 Sqft Lot in R3 New Constuction $165k Click Here
π±To gain access to all DD files, please text or email "Orange Research Package" and your email to...
Nick Godwin: 973-606-9133; Nick Walsh: 908-499-9128; or dispositions@cashdealsnewjersey.com π±
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