Gateway Manor Condos in Montlcair New Jersey

Gateway Manor Condos in Montlcair New Jersey

  • Price Range: $200,000 + -
  • Taxes: $6,000 +-
  • Maint: $385 + -
  • Year Built: 1948
  • Style: Converted Garden Apt.
  • Garages: No
  • Amenities: None Know
  • Availability: 2-7 per year
This nice condo development is what we call a Garden Apartment Conversion type building. What that means that it was probably built as a rental use building years ago. At some point the building was converted to a condominium type use and the units were sold. USUALLY, (in building built before 1970) but not always the maintenance fee includes heat and hot and cold water (but each building is different so please verify prior to purchasing. Some complexes have garages, some don't. One bedroom units a typically around 700-800 sq. ft., two bedroom units may be 800-1000 sq. ft. If the complex is under 50 units it probably does not have much as far as amenities which keep the maintained fees more affordable. One caveat when you decide to purchase a unit that is an older conversion type building you should be aware of is take a close look at the financials status of the association. Many of these older units are reaching the end of the useful life of roofs, boilers etc. and sometimes a special assessment may be need to pay for new items.   These are very usually very affordable units, usually priced under $250,000 or less. If you are aa-warren-condoslooking for a place to get started or a second home while you live in Florida a portion of the year, this type of complex may be a great option. They also rent easily and are sought out by investors.

ALL NUMBERS ABOVE ARE APPROXIMATE.  Above subject to Errors and Omissions.  Please independently verify prior to making any offer

Montclair New Jersey Condos and Townhouse

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