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.