One Wall Partners (OWP), the real estate investment and management firm based in Newark, NJ, recently announced the acquisition of 75 N. Walnut Street in East Orange.
The 44 units consist of recently renovated studio, one-bedroom and two-bedroom apartments with on-site laundry and parking. Additionally, the building is located a short 10-minute walk from the Brick Church NJ Transit train station. This multi-family building is OWP’s fifth acquisition in northern New Jersey, which is rapidly becoming known as the “6th Borough,” offering shorter commute times for people that work in Manhattan than many locations in Brooklyn or Manhattan.
“Northern New Jersey offers a large inventory of naturally occurring affordable housing and transit-oriented workforce housing,” said Nate Kline, chief investment officer and principal at One Wall Partners. “Proximity to mass transit is one of our criteria for investment and this property is an excellent example of how we can offer lifestyle conveniences at an affordable price. In addition to nearby transit, the property is across the street from the newest school in East Orange, down the block from a recently renovated park and a short walk to retail on Main Street. Meanwhile, studios at the property start at less than $750/month.”
Founded in 2010, OWP is a vertically integrated real estate operator whose main objective is providing naturally occurring affordable housing and quality, transit-oriented workforce housing located within a half-mile of public transportation.
One Wall continues to pursue investment opportunities in the region.
For more information about One Wall Partners, email us at email@example.com.