832 Mount Prospect Ave - Apartments FOR SALE


Newark, NJ 07104- Forest Hill
$3,400,000 USD
845-538-7764
832 Mount Prospect Ave, Newark, NJ for Sale
$3,400,000 USD
Apartments - FOR SALE
1/6
null | 6.7% Cap Rate

832 Mount Prospect Ave
Newark, NJ 07104
Forest Hill


HIGHLIGHTS

  • Larger, Better-Amenitized Units
  • Tenant-Paid Utility Structure
  • Fully Occupied, Cash-Flowing Today
  • Embedded Rent Upside
  • Documented Capital Reinvestment
  • Transit-Oriented Renter Demand

OVERVIEW

Trivium Real Estate Advisors is pleased to present the exclusive opportunity to acquire 832-34-36 Mt Prospect Avenue, an 11-unit, fully occupied multifamily asset located in Newark’s North Ward, Essex County, New Jersey. The Property offers an investor the chance to acquire a stabilized, cash-flowing, well-amenitized asset — large units with 2 full bathrooms, central air, and on-site parking — in an established residential corridor, with a clear, near-term path to normalize operating expenses and close a modest embedded gap between in-place and market rent. ? Larger, Better-Amenitized Units: every unit offers 2 full bathrooms and central air — uncommon among comparable North Ward product. ? Tenant-Paid Utility Structure: electric and gas are separately metered per unit and paid by tenants; ownership's exposure is limited to water/sewer. ? Fully Occupied, Cash-Flowing Today: 100% occupied at close, with trailing income already covering debt service and then some — this asset performs from day one, not a lease-up play. ? Embedded Rent Upside: in-place rents sit below market, with room to grow further as leases turn. ? Documented Capital Reinvestment: meaningful trailing capex — renovations, HVAC, roof, appliances — points to an active, well-maintained asset, not deferred maintenance. ? Transit-Oriented Renter Demand: walking distance to Newark Light Rail, drawing renters priced out of Hudson County moving west along transit lines. ? Employment Base Near the Port & Airport: steady metro job growth led by transportation and warehousing tied to the port and Newark Liberty Airport. ? Established, Amenity-Rich Corridor: adjacent to a historic district and backed by an active business improvement district.

FOR SALE DETAILS

PRICE

$3,400,000 USD

PRICE/SF

$604 USD /SF

# OF UNITS

12

PRICE/UNIT

$283,333

CAP RATE

6.7%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1915

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.06 AC

LAND SF

2,614 SF

ZONING

-

APN/PARCEL ID

14-00813-0000-00047

ASK ABOUT THIS PROPERTY

Israel GoldsteinTrivium Real Estate Advisors LLCMore Info
845-538-7764

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Israel GoldsteinTrivium Real Estate Advisors LLCMore Info
845-538-7764

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