493-495 Irvine Turner Blvd - Apartments FOR SALE


Newark, NJ 07108- South Broad Street
$1,300,000 USD
610-360-4510
493-495 Irvine Turner Blvd, Newark, NJ for Sale
$1,300,000 USD
Apartments - FOR SALE
1/27
null | 7.5% Cap Rate

493-495 Irvine Turner Blvd
Newark, NJ 07108
South Broad Street


OVERVIEW

Building was gut renovated +- 6 years ago. It's 3 stories plus full basement and consist of 6 apartments. 5 are 3 BR, 1-1/2 Bath. 1 is 2 BR, 1-1/2 Bath. The building is fully sprinklered, has a cctv system and a laundry room. Each unit is separately metered and has central HVAC. There is parking on site plus garages. Location is close to public transportation, downtown Newark, I78/24 & Newark Airport. Basement is large & a buyer might be able to build out 1 or 2 additional apartments. Rents are below market. Great potential with lots of upside.

FOR SALE DETAILS

PRICE

$1,300,000 USD

PRICE/SF

$217 USD /SF

# OF UNITS

6

PRICE/UNIT

$216,667

CAP RATE

7.5%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1950

PARKING SPACES

7

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,534 SF

ZONING

-

APN/PARCEL ID

14-02701-0000-00041

ASK ABOUT THIS PROPERTY

Sam PepperMetropolitan Mortgage and Realty, Inc.More Info
610-360-4510

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Sam PepperMetropolitan Mortgage and Realty, Inc.More Info
610-360-4510

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