67-69 Fabyan Pl - Apartments FOR SALE


Newark, NJ 07108- Upper Clinton Hill
$2,060,000 USD
917-796-9958
67-69 Fabyan Pl, Newark, NJ for Sale
$2,060,000 USD
Apartments - FOR SALE
1/12
null | Request Cap Rate

67-69 Fabyan Pl
Newark, NJ 07108
Upper Clinton Hill


HIGHLIGHTS

  • Huge Upside Potential
  • Located less than half mile from each other
  • All Separate Utilities
  • Recent Upgrades
  • Attractive Unit Mix

OVERVIEW

Two Building Package located half a mile from each other. The subject properties are: (1) 3 Story Framed Apartment building containing 6 units. The apartments are all large 2 Bedroom Units and are approximately 850 SF each. Each unit has a spacious living room and Eat in Kitchen. 1 of the units was recently renovated (1L) and the building has a new roof and updated boilers/furnaces. The utilities are all separated with the tenants responsible for paying for their own heat, hot water, electric and cooking gas. The property has a current state inspection certificate that is valid until 2027 and (1) 3 Story Brick Building containing 5 Apartments and 1 Commercial Unit. This building underwent a comprehensive gut rehab in 2006, with all systems and finishes replaced, while the original brick structure was preserved. The apartment layouts are highly desirable, consisting of two 3-bedroom/2-bath units, two 2-bedroom/2-bath units, and one 2-bedroom/1-bath unit. Each apartment boasts hardwood floors, tiled bathrooms, stainless steel appliances, HVAC units, and an open-concept design. The first-floor office space offers approximately 1,250 square feet of rentable area and is fully handicapped accessible. It is in excellent condition and has been continuously leased since 2017 by a Community-Based Organization focused on public safety initiatives.

FOR SALE DETAILS

PRICE

$2,060,000 USD

PRICE/SF

$458 USD /SF

# OF UNITS

12

PRICE/UNIT

$171,667

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Two Building Package

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1940

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.1 AC

LAND SF

4,569 SF

ZONING

N/Av

APN/PARCEL ID

14-03081-0000-00003

ASK ABOUT THIS PROPERTY

Frank PronestiInvestment Realty ProMore Info
917-796-9958

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Frank PronestiInvestment Realty ProMore Info
917-796-9958

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