Two Building Package For Sale in Newark
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Two Building Package For Sale in Newark
2 Multifamily Properties Offered at $2,977,874 CAD in Newark, NJ
Investment Highlights
- The properties are less than 1 mile apart
- Huge Upside Potential in Rents
- Tenants Pay Heat and Hot Water
- One Superintendent manages both properties
- Great Layout
- Low Taxes
Executive Summary
223 Hawthorne Ave. was completely gutted and renovated in 2006, down to the studs, and remains in excellent condition. The property features 5 apartments and 1 street-level office space, with the office tenant having been in place for at least 5 years. The building has an attractive layout, including two 3-bedroom/2-bath units, two 2-bedroom/2-bath units, and one 2-bedroom/1-bath unit. Each apartment is equipped with its own HVAC unit, providing heat, hot water, and air conditioning. Additionally, the building boasts a brand-new roof, installed in 2023.
67 Fabyan Place is a 3-story framed apartment building with 6 units, all large 2-bedroom apartments, approximately 850 SF each. Each unit features a spacious living room and an eat-in kitchen. One of the units (1L) was recently renovated, and the building has updated boilers, furnaces, and a new roof. Utilities are individually metered, with tenants responsible for their own heat, hot water, electricity, and cooking gas. The property also has a valid state inspection certificate, valid until 2027.
67 Fabyan Place is a 3-story framed apartment building with 6 units, all large 2-bedroom apartments, approximately 850 SF each. Each unit features a spacious living room and an eat-in kitchen. One of the units (1L) was recently renovated, and the building has updated boilers, furnaces, and a new roof. Utilities are individually metered, with tenants responsible for their own heat, hot water, electricity, and cooking gas. The property also has a valid state inspection certificate, valid until 2027.
Taxes & Operating Expenses (Actual - 2023) |
Annual (CAD) |
---|---|
Gross Rental Income | $253,709 |
Other Income | - |
Vacancy Loss | - |
Effective Gross Income | $253,709 |
Taxes | $32,274 |
Operating Expenses | $13,551 |
Total Expenses | $45,825 |
Net Operating Income | $207,885 |
Taxes & Operating Expenses (Actual - 2023)
Gross Rental Income (CAD) | |
---|---|
Annual | $253,709 |
Other Income (CAD) | |
---|---|
Annual | - |
Vacancy Loss (CAD) | |
---|---|
Annual | - |
Effective Gross Income (CAD) | |
---|---|
Annual | $253,709 |
Taxes (CAD) | |
---|---|
Annual | $32,274 |
Operating Expenses (CAD) | |
---|---|
Annual | $13,551 |
Total Expenses (CAD) | |
---|---|
Annual | $45,825 |
Net Operating Income (CAD) | |
---|---|
Annual | $207,885 |
Property Facts
Price | $2,977,874 CAD | Number of Properties | 2 |
Price / SF | $270.72 CAD / SF | Individually For Sale | 0 |
Cap Rate | 5.94% | Total Building Size | 11,000 SF |
Sale Type | Investment | Total Land Area | 0.17 AC |
Status | Active |
Price | $2,977,874 CAD |
Price / SF | $270.72 CAD / SF |
Cap Rate | 5.94% |
Sale Type | Investment |
Status | Active |
Number of Properties | 2 |
Individually For Sale | 0 |
Total Building Size | 11,000 SF |
Total Land Area | 0.17 AC |
Properties
Property Name / Address | Property Type | Size | Year Built | Individual Price |
---|---|---|---|---|
223 Hawthorne Ave, Newark, NJ 07112 | Multifamily | 6,500 SF | 2005 | - |
67-69 Fabyan Pl, Newark, NJ 07108 | Multifamily | 4,500 SF | - | - |
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Two Building Package For Sale in Newark
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