Freishal Associates LLC Acquires 25-Unit Multifamily Property In East Orange For $3.7M

The multifamily property located at 264-270 South Harrison Street in East Orange, NJ, consists of 25 units and was sold for $3,700,000. The property, which spans three stories, was 88% occupied at the time of the transaction, indicating a steady rental income for the new owner. The average price per unit amounted to $148,000.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $3,700,000
• Units: 25
• Average Price Per Unit: $148,000
• Buyer: Freishal Associates LLC
• Seller: Linda Kepniss
• Broker: David Oropeza - ICON Real Estate Advisors

Linda Kepniss had owned the property for approximately 30 years prior to the sale. David Oropeza of ICON Real Estate Advisors represented the seller in this transaction, assisting in the transfer of ownership to Freishal Associates LLC.