59-61 Wilson Ave
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59-61 Wilson Ave
6 Unit Apartment Building $2,179,000 ($363,167/Unit) 6.75% Cap Rate Newark, NJ 07105
Executive Summary
Great Location! 5 apartments and 2 stores plus a bonus 1 bedroom/studio. All tenants are on 12 month Leases. Great tenants, good condition.
Financial Summary (Actual - 2022) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$186,000
|
$30.47
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$186,000
|
$30.47
|
| Taxes |
$22,622
|
$3.71
|
| Operating Expenses |
$16,333
|
$2.68
|
| Total Expenses |
$38,955
|
$6.38
|
| Net Operating Income |
$147,045
|
$24.09
|
Financial Summary (Actual - 2022)
| Gross Rental Income | |
|---|---|
| Annual | $186,000 |
| Annual Per SF | $30.47 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $186,000 |
| Annual Per SF | $30.47 |
| Taxes | |
|---|---|
| Annual | $22,622 |
| Annual Per SF | $3.71 |
| Operating Expenses | |
|---|---|
| Annual | $16,333 |
| Annual Per SF | $2.68 |
| Total Expenses | |
|---|---|
| Annual | $38,955 |
| Annual Per SF | $6.38 |
| Net Operating Income | |
|---|---|
| Annual | $147,045 |
| Annual Per SF | $24.09 |
Property Facts
| Price | $2,179,000 | Building Class | C |
| Price Per Unit | $363,167 | Lot Size | 0.11 AC |
| Sale Type | Investment | Building Size | 6,105 SF |
| Cap Rate | 6.75% | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1950/2015 |
| Property Subtype | Apartment | Parking Ratio | 0.98/1,000 SF |
| Apartment Style | Low Rise |
| Price | $2,179,000 |
| Price Per Unit | $363,167 |
| Sale Type | Investment |
| Cap Rate | 6.75% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 6,105 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1950/2015 |
| Parking Ratio | 0.98/1,000 SF |
Unit Amenities
- Balcony
- Deck
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 3 | - | - |
| 1+1 | 1 | - | - |
| 3+1 | 1 | - | - |
| Studios | 1 | - | - |
1 of 1
Walk Score ®
Walker's Paradise (98)
Transit Score ®
Excellent Transit (75)
PROPERTY TAXES
| Parcel Number | 14-02031-0000-00015 | Total Assessment | $567,500 (2024) |
| Land Assessment | $375,000 (2024) | Annual Taxes | $22,622 ($3.71/SF) |
| Improvements Assessment | $192,500 (2024) | Tax Year | 2022 |
PROPERTY TAXES
Parcel Number
14-02031-0000-00015
Land Assessment
$375,000 (2024)
Improvements Assessment
$192,500 (2024)
Total Assessment
$567,500 (2024)
Annual Taxes
$22,622 ($3.71/SF)
Tax Year
2022
zoning
| Zoning Code | C2 (community commercial) |
| C2 (community commercial) |
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59-61 Wilson Ave
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