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15-19 Stone Street st

16 Unit Apartment Building $3,500,000 ($218,750/Unit) 5.20% Cap Rate Newark, NJ 07104

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Executive Summary

Discover a prime investment opportunity in Newark with this meticulously maintained 16-unit apartment building. Each apartment is equipped with Tile Flooring and in-unit forced air cooling and heating system. Boasting full occupancy and recent upgrades such as new boilers, a certified elevator, and a modern sprinkler system. Featuring a compelling 5% Cap rate and full occupancy, this four-story multi-family brick building offers a diverse mix of units: twelve- two-bedroom, three- three-bedroom, and one-bedroom apartments. Each unit includes an eat-in kitchen, spacious living room, and bathroom, ensuring comfortable living spaces for tenants.Located in a sought-after neighborhood known for its convenience and accessibility, this property is poised to deliver steady rental income and potential for future appreciation. Recent maintenance and upgrades enhance the building's long-term profitability.With ample room for appreciation, don't miss out on investing in this thriving Newark community. Schedule a tour today to seize this lucrative opportunity and secure your place in Newark's dynamic real estate market.

Property Facts

Price	$3,500,000	Building Class	C
Price Per Unit	$218,750	Lot Size	0.12 AC
Sale Type	Investment	Building Size	17,000 SF
Cap Rate	5.20%	Average Occupancy	100%
No. Units	16	No. Stories	4
Property Type	Multifamily	Year Built	1989
Property Subtype	Apartment General Retail Storefront Retail/Residential Multifamily Dormitory	Cross Streets	7th Avenue
Apartment Style	Mid Rise

Price	$3,500,000
Price Per Unit	$218,750
Sale Type	Investment
Cap Rate	5.20%
No. Units	16
Property Type	Multifamily
Property Subtype	Apartment General Retail Storefront Retail/Residential Multifamily Dormitory
Apartment Style	Mid Rise
Building Class	C
Lot Size	0.12 AC
Building Size	17,000 SF
Average Occupancy	100%
No. Stories	4
Year Built	1989
Cross Streets	7th Avenue