715 Main St, North Caldwell, NJ presents a rare, high-upside development opportunity in one of Essex County's most sought-after suburban markets. Situated on a 50' 100' lot with 5 on-site parking spaces, this property is approved for conversion into a 5-unit residential building, with two newly framed two-bedroom units created… Read More from the former commercial space in addition to the three existing apartments. The buyer will complete the project and secure final permits, opening the door to exceptional investment versatility: finish as a turnkey rental asset in a market where comparable housing rents average around $4,200/month, or pursue a profitable condo conversion supported by North Caldwell's strong demand, limited supply, and premium home values. Based on current rental trends, achievable ranges include 1BR: $1,800$2,400, 2BR: $3,000$3,500, and 3BR: $2,800$3,800, creating a compelling income profile once stabilized. With its strategic location, top-rated school district, strong local demographics, and minimal multifamily inventory, this property is an exceptional opportunity for investors, builders, developers, and flippers seeking a project with multiple exit strategies and meaningful upside in a premier New Jersey community. Inquire within for this one-of-a-kind opportunity. Read Less
Courtesy of PROMINENT PROPERTIES SIR, TAREK HASSIEB, 201-222-2900
Listing Snapshot
Days Online
2
Last Updated
Property Type
Other
Square Ft.
5,225
Year Built
1910
MLS Number
4015311
30 Days Snapshot Of 07006
$956k
0%
(avg) sold price
7
-46%
homes sold
103
+11%
(avg) days on market
Snapshot
Area Map
Additional Details
Basement
No
Building
Built in 1910
Cooling
4+ Units, Window A/C(s)
Exterior Features
See Remarks
Garage
5 garage spaces
Water Features
Public Water
Heating
Gas-Natural, 4+ Units
Lot
Approximate Lot Size: 50X100 IRR
Property
5,225 sqft building
Roof
See Remarks
Sewer
Public Sewer
Taxes
Annual Tax Amount: $13,209, Tax Rate: 2.258
Utilities
Gas-Natural
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