255-257 Lake St
9 Unit Apartment Building For Sale Newark, NJ 07104
INVESTMENT HIGHLIGHTS
- 8- 3 bedrooms, 1- 2 bedroom
- High occupancy neighborhood
- Strong upside potential
- Separate utilities - Low operating cost.
EXECUTIVE SUMMARY
Exceptional nine-unit multifamily property nestled in the heart of Newark, NJ. Situated directly across from the breathtaking Branch Brook Park, renowned for its cherry blossom festival and expansive green spaces. This property offers an unbeatable combination of location, strong rental demand, and value-add potential
PROPERTY FACTS
| Sale Type | Investment |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 20,000 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built/Renovated | 1955/2017 |
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 1 | - | - |
| 3+1 | 8 | - | - |
Walk Score®
Very Walkable (73)
Transit Score®
Excellent Transit (73)
PROPERTY TAXES
| Parcel Number | 14-00540-0000-00037 | Improvements Assessment | $742,500 |
| Land Assessment | $180,000 | Total Assessment | $922,500 |
ZONING
| Zoning Code | R-3 |
