862-227-6464
638 Mount Prospect Ave
Newark, NJ 07104
Forest Hill
HIGHLIGHTS
- 638 Mount Prospect Avenue is a fully occupied four-story mixed-use residential asset with an institutional medical anchor in Newark’s North Ward.
- Immediate cash flow; rent-controlled income from 11 stabilized residential units, including (3) HUD Section 8 voucher units, & an 8K SF retail space.
- New 10-year triple net (NNN) lease with a creditworthy tenant features built-in rent growth, ensuring stable, long-term income.
- Located on a prime corner in Forest Hill, a desirable historic district known for strong occupancy and long-term residential demand.
- Walkable to NJ Transit, Light Rail, and Broad Street Station, with direct access to Midtown Manhattan and major highways such as I-280 and GSP.
- Positioned within a dense trade area of 750,000 residents, renter-heavy demographics, and $8 billion in spending supporting long-term growth.
FOR SALE DETAILS
BUILDING DETAILS
PROPERTY NAME
1031 Exchange Opportunity with NNN Anchor
PROPERTY TYPE
Multi-Family
APARTMENT STYLE
Mid-Rise
PROPERTY SUBTYPE
Apartments
ADD'L SUBTYPES
Storefront Retail/Residential, Office/Residential
TOTAL BUILDING SIZE
-
STORIES
4
YEAR BUILT
1930
PARKING SPACES
20
LAND DETAILS
LAND ACRES
0.27 AC
LAND SF
11,798 SF
ZONING
C-2
APN/PARCEL ID
14-00737-0000-00023,14-00737-0000-00025
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862-227-6464
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862-227-6464
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