This is a carousel with tiles that activate property listing cards. Use the previous and next buttons to navigate.
1/48
$875,000
This is a carousel with tiles that activate property listing cards. Use the previous and next buttons to navigate.
1/48
Property Description
An income producing masterpiece has hit the market. This massive three family home features a 6+ car driveway and a two car garage, offering both scale and flexibility. With two units delivered vacant, you have the opportunity to maximize rents or occupy immediately. The property has been meticulously maintained and includes central air and forced hot air throughout. The first floor offers a spacious 3 bedroom, 1 bathroom unit with washer and dryer hookups, the second floor features an even larger 3 bedroom, 2 bathroom layout, and the third unit is a well proportioned 1 bedroom, 1 bathroom. The basement is expansive with high ceilings and endless potential for additional use. Conveniently located near major highways, parks, shopping and more, this is a rare opportunity to own an almost fully vacant multifamily, do not miss it.
Full Property Details
Full Property Details for 7 Prospect Terrace
General
- Price: $875,000
- Taxes: $15,670 (2025)
- Status: Active
- Type: Multi-Family
- Source: Garden_State
- MLS ID: 4020552
- Updated: 4/14/2026
- Added to Site: 49 day(s) ago
Interior
- Number of Rooms: 14
Rooms
Bathrooms
- Total Bathrooms: 4
- Full Bathrooms: 4
Bedrooms
- Total Bedrooms: 7
Parking
- Garage: Yes
- Garage Spaces: 2
- Garage Description: Detached Garage
Location
- County: Essex
- Driving Directions: on Prospect Terrace
Heating & Cooling
- Cooling Type: 3 Units, Central Air Conditioning
- Heating Type: 3 Units
- Heating Fuel: Natural Gas
Utilities
- Sewer: Public Sewer
- Water: Public Water
- Utility Description: Natural Gas
Structural Information
- Architectural Style: 3-Three Story
- Exterior Const.: Aluminum Siding
- Basement: Yes
- Basement Desc.: Full
- Roof: Asphalt Shingles
- Square Feet: 2,768
- Year Built: 1930
- Remodeled/Updated: 2019
Unit Information
Unit 1
- Unit Description: Bedrooms, Eat-In Kitchen, Kitchen, Laundry Room, Living Room, Living/Dining Room
- Square Feet: 1100
- Levels/Stories: 1
- Total Bathrooms: 1
- Bedrooms: 3
Unit 2
- Unit Description: Bedrooms, Eat-In Kitchen, Kitchen, Laundry Room, Living Room, Living/Dining Room
- Square Feet: 1100
- Levels/Stories: 2
- Total Bathrooms: 2
- Bedrooms: 3
Unit 3
- Unit Description: Bedrooms, Eat-In Kitchen, Kitchen, Living Room
- Square Feet: 600
- Levels/Stories: 3
- Total Bathrooms: 1
- Bedrooms: 1
Lot Features
- Lot Size (Acres): 0.11
- Lot Dimensions: 50 x 96
- Driveway/Sidewalk: 1 Car Width, 2 Car Width
Financial Considerations
- Assessment Amount: $409,900
- Land Assmt: $73,600
- Tax Amount: $15,670
- Tax Year: 2025
Disclosures and Reports
- Exclusions: Personal items
- Block: 552
- Lot Number: 2
Listed by Keller Williams City Views Realty
Get Pre-Approved Today
Schools
Schools serving 7 Prospect Terrace
School District:East Orange City School District
| Name | Grades | Distance |
|---|---|---|
J. Garfield Jackson Senior Academy Elementary School 106 Prospect Street, East Orange, NJ 07017 | K-5 | 0.1 mi |
Althea Gibson E C E Acd 490 William Street, East Orange, NJ 07017 | PK-K | 0.1 mi |
Wahlstrom Early Chld Academy 340 Prospect Street, East Orange, NJ 07017 | PK-K | 0.7 mi |
John L Costley Middle School 116 Hamilton Street, East Orange, NJ 07017 | 6-8 | 0.4 mi |
Patrick F Healy Middle School 116 Hamilton Street, East Orange, NJ 07017 | 6-8 | 0.4 mi |
Sojourner Truth Middle School 116 Hamilton Street, East Orange, NJ 07017 | 6-8 | 0.4 mi |
East Orange Campus High School 344 Prospect Street, East Orange, NJ 07017 | 9-12 | 0.6 mi |
East Orange STEM Academy 129 Renshaw Avenue, East Orange, NJ 07017 | 6-12 | 0.8 mi |
Disclaimer:
School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 7 Prospect Terrace
Date
Details
Price
Change
Source
4/14/2026
Listed
$875,000
993.75%
MLS
8/11/2017
Sold
$80,000
—
Public Record
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Tax History
Tax History for 7 Prospect Terrace
Year
Property Taxes
Change
Tax Assessment
Change
2024
$15,187
8%
$483,500
—
2022
$14,051
93%
$483,500
—
2021
$7,298
1%
$483,500
267%
2020
$7,204
1%
$131,700
—
2019
$7,112
1%
$131,700
—
2018
$7,024
-42%
$131,700
-44%
2017
$12,120
2%
$233,800
—
2016
$11,931
3%
$233,800
—
2015
$11,639
5%
$233,800
—
2013
$11,045
—
$233,800
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 7 Prospect Terrace
7 Prospect Ter, East Orange, NJ 07017 (MLS# 4020552) is a Multi-Family property with 3 units containing 7 bedrooms and 4 full bathrooms. 7 Prospect Ter is currently listed for $875,000 and was received on April 14, 2026. Want to learn more about 7 Prospect Ter? Do you have questions about finding other Multi-Family real estate for sale in East Orange? You can browse all East Orange real estate or contact a Coldwell Banker agent to request more information.

