214 Spring St - Apartments FOR SALE


Newton, NJ 07860
$725,000 USD
646-408-8024
214 Spring St, Newton, NJ for Sale
$725,000 USD
Apartments - FOR SALE
1/31
null | 7.41% Cap Rate

214 Spring St
Newton, NJ 07860


HIGHLIGHTS

  • Good Cash Flow with Residential Rent Upside
  • Strong Retail Tenant
  • Near Newton Memorial Hospital, Thor Labs and Sussex County Community College
  • Apartment Rentals are in High Demand in Newton
  • No Rent Control in Newton

OVERVIEW

3 Unit Mixed Use - 2 Three BR Apartments and 1 Retail/Restaurant The two apartments are both 3 BR 1 BA and each have their own outdoor balcony space. The Retail is a well established restaurant and will be signing a new 5 Year lease. The Restaurant pays all of their own utilities. The Apartments pay for all of their own utilities except water/sewer and garbage (paid by landlord). Ideal location on Spring St with rent upside makes this offering an excellent addition to any portfolio. Please contact Marc for Income and Expenses and more information

FOR SALE DETAILS

PRICE

$725,000 USD

PRICE/SF

$182 USD /SF

# OF UNITS

3

PRICE/UNIT

$241,667

CAP RATE

7.41%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Strong Cash Flow Mixed Use Building In Newton

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential, Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1920

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.07 AC

LAND SF

2,982 SF

ZONING

T-6

APN/PARCEL ID

15-00008-06-00005

ASK ABOUT THIS PROPERTY

Marc WeitzFairclough RealtorsMore Info
646-408-8024

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Marc WeitzFairclough RealtorsMore Info
646-408-8024

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.