$4,425,000 USD
201-218-9156
47-53 Milford Ave
Newark, NJ 07108
South Broad Street
HIGHLIGHTS
- 18-unit multifamily with 38% vacancy and 10% rental upside for value-add investors.
- All units renovated with strong two- and three-bedroom unit mix for tenant appeal.
- Attractive 6.73% cap rate and $297,054 NOI with pro forma upside.
- Tenants pay all utilities except water/sewer and common area electric.
- Prime Newark location, 5-minute walk to bus stop and easy access to Manhattan.
- Brick construction, separately metered units, and landlord-friendly expense structure.
FOR SALE DETAILS
PRICE
$4,425,000 USD
PRICE/SF
$277 USD /SF
# OF UNITS
18
PRICE/UNIT
$245,833
CAP RATE
6.73%
% LEASED
100%
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY TYPE
Multi-Family
APARTMENT STYLE
Low-Rise
PROPERTY SUBTYPE
Apartments
TOTAL BUILDING SIZE
-
STORIES
3
YEAR BUILT
1960
PARKING SPACES
-
LAND DETAILS
LAND ACRES
0.33 AC
LAND SF
14,375 SF
ZONING
R-3
APN/PARCEL ID
14-02673-0000-00004
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201-218-9156
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201-218-9156
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