383 Mount Prospect Ave - North Newark
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383 Mount Prospect Ave - North Newark
6 Unit Apartment Building Offered at $1,800,000 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 | Annual Per SF |
|---|---|---|
| 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
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Unit Amenities
- Balcony
- Fireplace
- Dining Room
Site Amenities
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 2 | $1,950 | 707 - 724 |
| 3+2 | 1 | $2,500 | 1,933 |
| 1+1 | 3 | $1,650 | 624 - 704 |
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PROPERTY TAXES
| Parcel Number | 14-00610-0000-00054 | Total Assessment | $365,500 (2024) |
| Land Assessment | $54,800 (2024) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $310,700 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
14-00610-0000-00054
Land Assessment
$54,800 (2024)
Improvements Assessment
$310,700 (2024)
Total Assessment
$365,500 (2024)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2023
zoning
| Zoning Code | Multi Family Hi Ris (Multi Family High Rise) |
| Multi Family Hi Ris (Multi Family High Rise) |
-
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383 Mount Prospect Ave - North Newark
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