9
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$799,999
Est. payment /mo
1,800 SqFt
New
485 18Th Ave Newark City, NJ 07103
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Key Details
Property Type Single Family Home
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 1,800 sqft
Price per Sqft $444
MLS Listing ID 4047292
Annual Tax Amount $7,826
Tax Year 2025
Lot Size 1,742 Sqft
Property Sub-Type Mixed Use
Property Description
Mixed-use investment opportunity featuring five income-producing units. The street-level unit is currently configured and occupied as a 2-bedroom, 1-bath unit, with potential commercial use subject to applicable zoning, approvals, and permitted use. The second and third floors each contain two 1-bedroom, 1-bath apartments with living room and kitchen, for a total of four residential units. All units are currently month-to-month with a history of timely rent payments. Current monthly gross income is $5,600, totaling $67,200 annually. Reported annual operating expenses are $14,626, resulting in NOI of $52,574 and an estimated 6.58% cap rate based on the current asking price. Convenient Newark location with access to public transportation and major roadways. Rent roll and financial information available for review. All income, expenses, permitted uses and financial information to be independently verified by buyer.
Location
State NJ
County Essex
Zoning C2
Interior
Heating Gas-Natural
Cooling Central Air
Equipment See Remarks
Heat Source Gas-Natural
Exterior
Exterior Feature Brick/Block
Utilities Available Electric, Gas-Natural, See Remarks
Roof Type Asphalt Shingle
Building
Story 3
Sewer Public Sewer
Water Public Water
Others
Ownership Fee Simple
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