Property
Newark City, NJ 07107 372 6Th Ave
$999,999
Presented By: COMPASS NEW JERSEY, LLC; 718-866-8115
Full/Half Baths • 0 / 6
SQFT • 999
Home Details
This prime six-unit opportunity has a 6.5% Cap Rate located in a high growth development zone. A true turn-key investment with lots of room for upsize with 50% of the units being leased below market values. Don't miss the chance to invest in a strategic asset within one of the city's most promising growth markets and has a strong rental history. Each unit features spacious layouts, modern amenities and strong tenant demand; ideal for both seasoned and new investors looking to grow their real estate portfolio.
Presented By: COMPASS NEW JERSEY, LLC; 718-866-8115
Interior Features for 372 6Th Ave
Bedrooms
Num 4 Bed Units
Bathrooms
Num Units w/Full Bath6
Num Units w/Half Bath
Half Baths6
Other Interior Features
Price Per Sq Ft999.00
Available Sq Ft999
Num 3 Bdrm Units5
Num 2 Bdrm Units1
Num 1 Bdrm Units
BasementFull
Fuel TypeElectric, Gas-Natural
Total Stories3
General for 372 6Th Ave
Cap Rate6.50
ConstructionBrick/Block
CoolingWindow A/C(s)
CountyEssex
Directionsna
Documents AvailableIncome & Expenses, Leases, Pro Forma
DriveSee Remarks
EasementNo
Equipment AvailableAppliances, Exhaust System, Fire Alarm, See Remarks
Gross Income96000
Heating4+ Units
Leasable Area
Lease IncludesBuilding Insurance, Building Maintenance, Common Area Maint, Sewer, Taxes, Trash Removal, Water
Lease Information1 Year Minimum
Lease TypePrimary
LocationResidential Area
Maintenance Expense
Net Operating Income67838
Num Apts6
Number Of Units Total6
Operating Expense28162
OwnerPaysMaintenance-Common Area, Sewer, Water
OwnershipFee Simple
Permitted Usemulti unit apartments
Possessionat closing
Property TypeApartment Complex
Property TypeApartment Complex
RoofAsphalt Shingle, Flat
SewerPublic Sewer
Standard StatusActive
StatusActive
Tax Annual Amount16162
Tax Assessed Value425000
Tax Lot2
Tax Year2024
Tenant PaysCable T.V., Electric, Heat, Hot Water
Town #1614
TownshipNewark City
UtilitiesAll Underground, Electric, Gas In Street
Utilities Paid ByTenant
Year Built1900
ZoningCom
Exterior for 372 6Th Ave
Building Area Total999
Exterior DescriptionBrick/Block
Lot Dimensions50X100
Lot FeaturesLevel Lot
Lot Size Acres0.11
Max Ceiling Height9
Max Door Height0
Number of Bays0
Number of Docks0
Water SourcePublic Water
Additional Details
Price History
YOLANDA CASSIDY-BOGAN
Associate