Newark Multifamily Portfolio
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Newark Multifamily Portfolio
4 Properties in Newark, NJ
Investment Highlights
- • Portfolio Of Four Apartment Buildings
- Over 22% Upside In Rents Achievable Through Legal Voucher Increases
- Strong Entry Cap Rate & Cash-OnCash Return
- • All Separate Utilities
- • Strong Mix Of Studios, 1, 2, 3, & 4 Bedrooms
- • Most Units Have Been Renovated Along With Major Capital Improvements Across All Buildings
Executive Summary
Marcus & Millichap has been hired exclusively to market the sale of a
Multifamily Portfolio in Newark, New Jersey. The portfolio consists of 4
Buildings and is currently 98% occupied. Three of the four buildings have
been fully renovated and has received major capital improvements.
Parker street has received light renovations.
This is a great opportunity to acquire turn-key apartment buildings in the
up and coming Newark market. Current rents are about 22% below
market and although there is rent control in Newark there is a city
ordinance that allows the legal rent to be raised if rented to voucher tenants.
Multifamily Portfolio in Newark, New Jersey. The portfolio consists of 4
Buildings and is currently 98% occupied. Three of the four buildings have
been fully renovated and has received major capital improvements.
Parker street has received light renovations.
This is a great opportunity to acquire turn-key apartment buildings in the
up and coming Newark market. Current rents are about 22% below
market and although there is rent control in Newark there is a city
ordinance that allows the legal rent to be raised if rented to voucher tenants.
Property Facts
| Sale Type | Investment | Individually For Sale | 0 |
| Status | Active | Total Building Size | 15,650 SF |
| Number of Properties | 4 | Total Land Area | 0.22 AC |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 4 |
| Individually For Sale | 0 |
| Total Building Size | 15,650 SF |
| Total Land Area | 0.22 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 137 Parker St, Newark, NJ 07104 | Multifamily | 6,000 SF | 1900 | - |
| 318 Clinton Ave, Newark, NJ 07108 | Multifamily | 5,000 SF | 1900 | - |
| 612 N 5th St, Newark, NJ 07107 | Multifamily | 4,650 SF | 1920 | - |
| 380 N 11th St, Newark, NJ 07107 | Land | - | - | - |
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Jonathan Zamora -
Marcus & Millichap
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Newark Multifamily Portfolio
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