201-742-6121
, Newark, NJ for Sale
FOR SALE
1/8
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Newark Multifamily Portfolio
Newark, NJ
Seventh Avenue


HIGHLIGHTS

  • • Portfolio Of Four Apartment Buildings
  • • All Separate Utilities
  • Over 22% Upside In Rents Achievable Through Legal Voucher Increases
  • • Strong Mix Of Studios, 1, 2, 3, & 4 Bedrooms
  • Strong Entry Cap Rate & Cash-OnCash Return
  • • Most Units Have Been Renovated Along With Major Capital Improvements Across All Buildings

OVERVIEW

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.

ASK ABOUT THIS PROPERTY

Jonathan ZamoraMarcus & MillichapMore Info
201-742-6121

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Jonathan ZamoraMarcus & MillichapMore Info
201-742-6121

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.