368-370 Summer Ave 18 Unit Apartment Building $1,036,558 CAD ($57,587 CAD/Unit) 9.33% Cap Rate Newark, NJ 07104

368-370 Summer Avenue presents the investment opportunity to acquire a licensed rooming house with 18 rooms grossing $133k annually. It is ideal for steady cash flow, appreciation, and 1031 buyers. NOI close to $70k; ALL ROOM ARE OCCUPIED, TENANTS ARE PAYING ON TIME and are PAYING CASH.

368-370 Summer Avenue is nestled between the Passaic and Second Rivers, and nearby parks add a burst of greenery to this area, dominated by various neighborhoods and residential establishments. Branch Brook Park boasts over 300 acres of cherry trees, lakes, trails, sports fields, and a roller-skating rink. Belleville Park has a playground, ball fields, and bocce courts. These beautiful parks and quick access to great schools, grocery stores, and a few local restaurants make North Broadway an excellent option for families. North Broadway is less than 15 minutes away from Downtown Newark, allowing residents to enjoy quick and easy trips into the city, especially commuters. Living in North Broadway will enable renters easy access to the Newark Museum of Art, the Prudential Center, the New Jersey Performing Arts Center, and more.