HIGHLIGHTS
- 3.5% assumable loan at 70% LTV with maturity date of 01/01/2032
- 7% actual cap rate and 9.6% cash on cash return on $16,081,000 price
- 92 units across 2 brick multifamily buildings with mostly renovated units
- ~1-minute walk to bus stop; 16-min to Penn Station, 20-min to Midtown Manhattan
- 16% rent upside across all unit types versus pro forma market rents
- Recent capital improvements: new boiler 2025, elevator mechanicals 2024, water heater 2022
FOR SALE DETAILS
PRICE
$16,081,000 USD
PRICE/SF
$441 USD /SF
# OF UNITS
92
PRICE/UNIT
$174,793
CAP RATE
7%
% LEASED
95%
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
Elizabeth Goldsmith
PROPERTY TYPE
Multi-Family
APARTMENT STYLE
Mid-Rise
PROPERTY SUBTYPE
Apartments
TOTAL BUILDING SIZE
-
STORIES
6
YEAR BUILT
1930
PARKING SPACES
-
LAND DETAILS
LAND ACRES
-
LAND SF
-
ZONING
R4, Newark City
APN/PARCEL ID
14-03679-0000-00005
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908-255-1779
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