222 Claremont Ave, Verona, NJ 07044
sale
$800,000
|
Multi-Family
Listed By CENTURY 21 The Crossing
Rarely available side-by-side duplex delivering immediate income with significant upside potential. 222-224 Claremont Avenue presents a true buy-and-hold opportunity in one of Essex County's most consistently strong rental markets. Both units are currently occupied under lease through May 31, 2026, generating a combined $4,066/month ($48,792 annually) with room to grow. At lease expiration, market rents for comparable 2-bedroom units in Verona support $2,300/month per unit, pushing gross annual income to $55,200 and meaningfully improving returns for the next owner. Each unit offers a well-proportioned 2-bedroom, 1-bath layout with separate utilities, keeping operating expenses predictable and landlord exposure low. A detached 3-car garage adds a valuable additional income stream or tenant amenity, and in-basement washer/dryer provides added convenience that supports tenant retention. Private driveways for each unit further enhance the property's appeal to quality, long-term renters.Verona continues to attract strong rental demand driven by its top-rated schools, walkable downtown, and easy access to NYC via direct bus and rail connections. Leases rolling simultaneously in May 2026, an investor steps in with stabilized income today and a clean opportunity to reset both rents to market at turnover.
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Property Features
- Cross Docks: N
- For Auction: N
- Full Bathrooms: 2
- MLSID: 4017437
- Price Upon Request: N
- Property Use: Rental or Investment
- Style: Multi Family - 2-4 Units
- Sublease: N
- Tax Year: 2025
- Taxes: $12133.00
- Total Units: 2
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