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368-370 Summer Ave

18 Unit Apartment Building $748,888 ($41,605/Unit) 8.40% Cap Rate Newark, NJ 07104

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Executive Summary

Amazing investment opportunity in North Newark! Licensed Rooming House with 18 Rooms near Branch Brook Park. Grossing $133k per year at an 8.4% cap rate. Ideal for steady cash flow, appreciation and 1031 buyers.

Summer Ave P & L

Financial Summary (Actual - 2023)	Annual	Annual Per SF
Gross Rental Income	$133,517	$13.35
Other Income	-	-
Vacancy Loss	-	-
Effective Gross Income	$133,517	$13.35
Taxes	-	-
Operating Expenses	$71,052	$7.11
Total Expenses	$71,052	$7.11
Net Operating Income	-	-

Financial Summary (Actual - 2023)

Gross Rental Income
Annual	$133,517
Annual Per SF	$13.35

Other Income
Annual	-
Annual Per SF	-

Vacancy Loss
Annual	-
Annual Per SF	-

Effective Gross Income
Annual	$133,517
Annual Per SF	$13.35

Taxes
Annual	-
Annual Per SF	-

Operating Expenses
Annual	$71,052
Annual Per SF	$7.11

Total Expenses
Annual	$71,052
Annual Per SF	$7.11

Net Operating Income
Annual	-
Annual Per SF	-

Property Facts

Price	$748,888	Apartment Style	Low Rise
Price Per Unit	$41,605	Building Class	C
Sale Type	Investment	Lot Size	0.11 AC
Cap Rate	8.40%	Building Size	9,999 SF
No. Units	18	Average Occupancy	100%
Property Type	Multifamily	No. Stories	3
Property Subtype	Apartment Multifamily Dormitory	Year Built	1910

Price	$748,888
Price Per Unit	$41,605
Sale Type	Investment
Cap Rate	8.40%
No. Units	18
Property Type	Multifamily
Property Subtype	Apartment Multifamily Dormitory
Apartment Style	Low Rise
Building Class	C
Lot Size	0.11 AC
Building Size	9,999 SF
Average Occupancy	100%
No. Stories	3
Year Built	1910