485 18th Ave - Apartments FOR SALE


Newark, NJ 07103- West Side
$799,000 USD
908-451-2311
485 18th Ave, Newark, NJ for Sale
$799,000 USD
Apartments - FOR SALE
1/4
null | 6.58% Cap Rate

485 18th Ave
Newark, NJ 07103
West Side


OVERVIEW

Mixed-use investment opportunity featuring five income-producing units. The street-level unit is currently configured and occupied as a 2-bedroom, 1-bath unit, with potential commercial use subject to applicable zoning, approvals, and permitted use. The second and third floors each contain two 1-bedroom, 1-bath apartments with living room and kitchen, for a total of four residential units. All units are currently month-to-month with a history of timely rent payments. Current monthly gross income is $5,600, totaling $67,200 annually. Reported annual operating expenses are $14,626, resulting in NOI of $52,574 and an estimated 6.58% cap rate based on the current asking price. Convenient Newark location with access to public transportation and major roadways. Rent roll and financial information available for review. All income, expenses, permitted uses and financial information to be independently verified by buyer.

FOR SALE DETAILS

PRICE

$799,000 USD

PRICE/SF

$190 USD /SF

# OF UNITS

5

PRICE/UNIT

$159,800

CAP RATE

6.58%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential, Office/Residential

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1888

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.04 AC

LAND SF

1,728 SF

ZONING

C2

APN/PARCEL ID

14-00314-0000-00014

ASK ABOUT THIS PROPERTY

Pete MorielloReal BrokerMore Info
908-451-2311

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Pete MorielloReal BrokerMore Info
908-451-2311

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