383 Mount Prospect Ave - North Newark 6 Unit Apartment Building Offered at $2,511,576 CAD at a 6.17% Cap Rate in Newark, NJ 07104

INVESTMENT HIGHLIGHTS

  • Public Transportation
  • NY City Views

EXECUTIVE SUMMARY

383 Mt Prospect Ave, where classic charm meets modern convenience in this stunning 6-family residence. Boasting 10 spacious bedrooms, 7 bathrooms, and featuring 5 elegant fireplaces, this property offers unparalleled comfort and style. Situated just blocks away from Forest Hills and Branch Brook Park, residents enjoy easy access to lush greenery and serene surroundings. The location is a commuter's dream, with close proximity to public transportation, parks, and major highways, ensuring convenience and connectivity. One of the standout features of this home is its breathtaking views of New York City, providing a picturesque backdrop day and night. Ideal for investors and homeowners alike, this property is zoned for multi-family high rise, offering endless possibilities for expansion and development. Whether you're looking for a lucrative investment opportunity or a spacious property to live, the options are truly limitless. Don't miss your chance to own a piece of Newark's finest properties.

FINANCIAL SUMMARY (ACTUAL - 2023) Click Here to Access

ANNUAL (CAD) ANNUAL PER SF (CAD)
Gross Rental Income $99,999 $9.99
Other Income - -
Vacancy Loss - -
Effective Gross Income $99,999 $9.99
Taxes $99,999 $9.99
Operating Expenses $99,999 $9.99
Total Expenses $99,999 $9.99
Net Operating Income $99,999 $9.99

PROPERTY FACTS

Price $2,511,576 CAD
Price Per Unit $418,596 CAD
Sale Type Investment
Cap Rate 6.17%
No. Units 6
Property Type
Multifamily
  • Multifamily Apartments
Lot Size 0.46 AC
Building Size 5,887 SF
Average Occupancy 84%
No. Stories 3
Year Built 1910
Parking Ratio 0.68/1,000 SF

UNIT AMENITIES

  • Balcony
  • Fireplace
  • Dining Room

SITE AMENITIES

  • Public Transportation

UNIT MIX INFORMATION

DESCRIPTION NO. UNITS AVG. RENT/MO SF
2+1 2 $2,721 CAD 707 - 724
3+2 1 $3,488 CAD 1,933
1+1 3 $2,302 CAD 624 - 704

PROPERTY TAXES

ZONING

Zoning Code Multi Family Hi Ris (Multi Family High Rise)
  • Listing ID: 32477808

  • Date on Market: 2024-07-16

  • Last Updated:

  • Address: 383 Mount Prospect Ave, Newark, NJ 07104