76 Ella Street, Bloomfield, NJ 07003

76 Ella Street is a three-unit residential income property in Bloomfield, Essex County — a dense suburban municipality with direct nj transit access to Penn Station via the Morristown line. The building is a three-story frame structure with 3,265 sf on a 36x107 lot, constructed in 1928. Units 1 and 2 are 2br/1BA; unit 3 is a renovated 1br/1BA on the third floor. The property includes a detached 2-car garage and exclusive 6-car driveway — rare in bloomfield's dense residential grid. All three units have separate utilities.

Bloomfield township sits at the intersection of Essex County's commuter belt and its workforce rental market. The Watsessing Avenue NJ Transit station is a 3-minute walk from 76 Ella Street — a locational advantage that drives consistent tenant demand and sub-30-day vacancy at turnover. Bloomfield's multifamily submarket has absorbed meaningful rent growth since 2022: 2BR units that cleared $1,100-$1,200/mo now achieve $1,900-$2,300/month. The subject's below-market rents represent the primary value-add opportunity for the acquiring investor, requiring minimal physical and/or capital improvements.