492 Conover Terrace, Orange, NJ

492 Conover Terrace represents a fully approved, shovel-ready multifamily development opportunity in the City of Orange, Essex County, New Jersey. The property is offered with Preliminary and Final Site Plan Approval in place for a 12-unit market-rate residential development, allowing a purchaser to proceed directly toward construction without zoning or entitlement risk.

The site is located just minutes from the Orange NJ Transit train station, providing direct rail access to Newark, Hoboken, and New York City. This transit-oriented location supports strong and sustained rental demand, making the project highly attractive for developers seeking urban infill multifamily opportunities.

Seller does not have construction drawings; buyer will be responsible for preparation of construction documents

- Total Units: 12 market-rate apartments

- 3 one-bedroom units

- 9 two-bedroom units

- Parking: 10 on-site parking spaces

- Building Features:

- Elevator service

- Covered first-floor parking

- Private balconies

- Efficient modern unit layouts

- Entitlements & Approvals

- Preliminary and Final Site Plan Approval granted

- Approved by Superior Court Order

- Memorialized by City of Orange Planning Board Resolution dated July 23, 2025

- Use permitted within zoning district

- Architectural plans prepared by AKT Designs

- Engineering and site plans prepared by Dresdner Robin

- Construction drawings not included; buyer to prepare construction documents

$595,000

INTERESTED IN THIS PROPERTY?

David Simon, Sales Associate

201.538.7279 — dsimon@prominentcommercial.com

Asset Type: Multifamily / 1031 Exchange (shovel-ready)
Square Footage: 0.15 acre (lot)
Available: 12 approved market-rate units (3 one-bed, 9 two-bed), elevator, covered first-floor parking

Parking: 10 on-site parking spaces

Zoning: Use permitted within zoning district (fully approved)
Year Built: N/A (approved 2025, not yet built)