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Rare Investment Opportunity - Legal Boarding House + Victorian Gem in Prime South Orange! Own two adjacent, income-generating properties. 120 & 122 Milligan Place offered together as a turnkey rental portfolio just steps from Seton Hall University and NYC Trains. Combined income is approx: $23,500/month. 120 Milligan (MLS #3979738) is a rare, legal boarding house, fully occupied, offering exceptional rental flexibility to individuals or groups. The first floor includes a 4-bedroom, 1 bath unit with a spacious kitchen, dining are, and private entrance. There is also a separate studio apartment with kitchenette, full bath, and its own entrance. The second and third floors contain 9 individually rental rooms with shared baths and common areas. Shared laundry and off-street parking add to the appeal.122 Milligan Place (GSMLS #3979734) is a beautifully maintained 11-bedroom, 3-bath Victorian with a wraparound porch, large yard, in-house laundry, and recent capital improvements. Current lease is $9,500/month. Both properties are ideally located near Seton Hall, and NYC Transport ensuring consistent demand from a wide variety of tenants. A rare, high-yield opportunity in one of NJ's strongest rental markets!
| DAYS ON MARKET | 1 | LAST UPDATED | 8/6/2025 |
|---|---|---|---|
| YEAR BUILT | 1854 | COMMUNITY | South Orange |
| COUNTY | Essex | STATUS | Active |
| PROPERTY TYPE(S) | Multi Family |
| High School | COLUMBIA |
|---|
| ADDITIONAL DETAILS | |
| AREA | South Orange |
|---|---|
| BASEMENT | Unfinished, Walk-Out Access, Yes |
| CONSTRUCTION | Vinyl Siding |
| HEAT | Baseboard, Natural Gas |
| LOT | 7405 sq ft |
| PARKING | Shared Driveway |
| SEWER | Public Sewer |
| STORIES | 3 |
| STYLE | 3-Three Story |
| TAXES | 21730 |
| UTILITIES | Natural Gas Available |
| WATER | Public |
MORTGAGE CALCULATOR
TOTAL MONTHLY PAYMENT
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Listed with COLDWELL BANKER REALTY
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