Elizabeth Goldsmith
Newark, NJ
Weequahic
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
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201-218-9156
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201-218-9156
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