257-259 Springfield Ave
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257-259 Springfield Ave
14 Unit Apartment Building $2,976,582 CAD ($212,613 CAD/Unit) Newark, NJ 07103
Executive Summary
12 Residential + 2 Commercial property located on Springfield Ave. Tenants pay for electric, gas, & hot water. Across from Social security office. Near Shoprite, transportation and Public School. Huge upside.
Financial Summary (Actual - 2024) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$315,024
|
$61.77
|
| Other Income |
$3,473
|
$0.68
|
| Vacancy Loss |
$9,451
|
$1.85
|
| Effective Gross Income |
$309,046
|
$60.60
|
| Taxes |
$20,085
|
$3.94
|
| Operating Expenses |
$49,038
|
$9.62
|
| Total Expenses |
$69,123
|
$13.55
|
| Net Operating Income |
$239,922
|
$47.04
|
Financial Summary (Actual - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $315,024 |
| Annual Per SF | $61.77 |
| Other Income (CAD) | |
|---|---|
| Annual | $3,473 |
| Annual Per SF | $0.68 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $9,451 |
| Annual Per SF | $1.85 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $309,046 |
| Annual Per SF | $60.60 |
| Taxes (CAD) | |
|---|---|
| Annual | $20,085 |
| Annual Per SF | $3.94 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $49,038 |
| Annual Per SF | $9.62 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $69,123 |
| Annual Per SF | $13.55 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $239,922 |
| Annual Per SF | $47.04 |
Property Facts
| Price | $2,976,582 CAD | Building Class | C |
| Price Per Unit | $212,613 CAD | Lot Size | 0.12 AC |
| Sale Type | Investment | Building Size | 20,000 SF |
| No. Units | 14 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 4 |
| Property Subtype | Apartment | Year Built | 1965 |
| Apartment Style | Mid Rise |
| Price | $2,976,582 CAD |
| Price Per Unit | $212,613 CAD |
| Sale Type | Investment |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid Rise |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 20,000 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built | 1965 |
Unit Amenities
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 11 | - | - |
| 2+1 | 1 | - | - |
1 of 1
Walk Score ®
Very Walkable (85)
Transit Score ®
Excellent Transit (75)
PROPERTY TAXES
| Parcel Number | 14-02519-0000-00058 | Total Assessment | $532,619 CAD |
| Land Assessment | $175,718 CAD | Annual Taxes | $20,085 CAD ($1.00 CAD/SF) |
| Improvements Assessment | $356,901 CAD | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
14-02519-0000-00058
Land Assessment
$175,718 CAD
Improvements Assessment
$356,901 CAD
Total Assessment
$532,619 CAD
Annual Taxes
$20,085 CAD ($1.00 CAD/SF)
Tax Year
2024
-
Eli Klein - Daytron Management Group LLC
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257-259 Springfield Ave
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