This transaction involves the sale of a fully renovated, legal 3-family home located at 129 Chestnut Street in Montclair. The asset, inclusive of three 2-bedroom, 1-bathroom units, is equipped with new electrical, plumbing, and HVAC systems. The property has separately metered utilities and in-unit laundry facilities. Its strategic location between Walnut St & Watchung Plaza allows for convenient access to parks, dining, and transportation options to NYC, adding to its appeal as an investment property. The overall sale was completed at a price of $1,625,000.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $1,625,000
• Units: 3
• Price Per Unit: $541,667
• Buyer's Representative: Allison Maguire - Brown Harris Stevens New Jersey
• Seller's Representative: Pierce Conway - Compass
• Monthly Rental Income: $6,500

Representing the buyer in this transaction, Allison Maguire from Brown Harris Stevens New Jersey facilitated the $1.625 million purchase. Pierce Conway of Compass represented the seller, thereby playing a crucial role in the successful closing of this multifamily asset.