224 S Orange Ave - Apartments FOR SALE


Newark, NJ 07103- Springfield-Belmont
$1,700,000 USD
201-215-1811
224 S Orange Ave, Newark, NJ for Sale
$1,700,000 USD
Apartments - FOR SALE
1/6
null | 8.92% Cap Rate

224 S Orange Ave
Newark, NJ 07103
Springfield-Belmont


HIGHLIGHTS

  • Upside Potential
  • Desirable Residential Units
  • Convenient Location
  • Transit Oriented Location
  • Significant Higher Education
  • High Traffic Counts

OVERVIEW

Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the mixed-use building located at 224 S Orange Avenue in Newark, New Jersey (“the Property”). The Property consists of a three-story mixed-use building containing nine (9) total units comprised of two (2) commercial units, and seven (7), 2-Bedroom/1-Bathroom units on a 0.09-acre parcel of land. The Property is well located along S Orange Avenue, one of the area’s primary commercial and commuter corridors, in a densely populated neighborhood Newark’s Central Ward. The Property is 0.2 miles from University Hospital and enjoys convenient access to several commuter rail stations including Newark’s Penn Station with direct service to Manhattan’s Penn Station, just 1.6-miles away. The Property is positioned along the municipal bus line and offers quick access to the Garden State Parkway, Interstates 280 and 78, and NJ Route 21, as well as area schools, national retailers, and Newark’s Central Business District. Newark is a suburb of New York City and is the county seat of Essex County within the New York metropolitan area. The densely populated area is 11-miles southwest of New York City.

FOR SALE DETAILS

PRICE

$1,700,000 USD

PRICE/SF

$142 USD /SF

# OF UNITS

9

PRICE/UNIT

$188,889

CAP RATE

8.92%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1960

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.09 AC

LAND SF

3,920 SF

ZONING

-

APN/PARCEL ID

14-00244-0000-00023

ASK ABOUT THIS PROPERTY

Mike AgrifolioHorvath & TremblayMore Info
201-215-1811

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Mike AgrifolioHorvath & TremblayMore Info
201-215-1811

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