773-775 Sanford Ave - Apartments FOR SALE


Newark, NJ 07106- Upper Vailsburg
$15,000,000 USD
201-742-6121
773-775 Sanford Ave, Newark, NJ for Sale
$15,000,000 USD
Apartments - FOR SALE
1/16
null | 7.25% Cap Rate

773-775 Sanford Ave
Newark, NJ 07106
Upper Vailsburg


HIGHLIGHTS

  • 7.25% Entry Cap Rate
  • Asking $125,000 A Unit
  • Major Upside In Under Market Rents
  • Value- Add Adding Bedrooms To Units

OVERVIEW

A 12-Unit Multi-Family Property Offering Immediate In-Place Cash Flow and Long-Term Appreciation Potential Located on Newark’s West Side with Connectivity to South Orange Avenue, Springfield Avenue, and Frequent Bus Service to Newark Penn Station and Seton Hall University Proximity to I-280 and I-78 Provides Quick Access to Downtown Newark, Newark Liberty International Airport, and Regional Employment Centers Greater Newark Remains One of North Jersey’s Most Affordable Submarkets Market Dynamics Affordable Rental Housing, Supported by Zoning Modernization, Selective Tax Incentives, and Spillover Demand from Downtown’s Higher-Priced Core 46 Percent Upside in Rents All Units are Oversized, Value-Add in Splitting the Units Up

FOR SALE DETAILS

PRICE

$15,000,000 USD

PRICE/SF

$1,250 USD /SF

# OF UNITS

12

PRICE/UNIT

$1,250,000

CAP RATE

7.25%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1930

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.11 AC

LAND SF

4,710 SF

ZONING

R2 Newark

APN/PARCEL ID

14-04132-0000-00003

ASK ABOUT THIS PROPERTY

Jonathan ZamoraMarcus & MillichapMore Info
201-742-6121

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Jonathan ZamoraMarcus & MillichapMore Info
201-742-6121

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