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160 E Kinney St
Newark, NJ 07105
Multifamily Property For Sale
·
6 Units
Investment Highlights
- Three (3) on-site parking spaces, a premium feature in the Ironbound area where parking is limited.
- Proximity to public transit, shops, dining, and major highways.
- Located in one of Newark’s most desirable, walkable, culturally vibrant neighborhoods.
Executive Summary
This stabilized multifamily offering presents a rare opportunity to acquire a well-located, fully occupied 6-unit building in Newark’s thriving Ironbound neighborhood. The asset consists of six units plus three off-street parking spaces. The property features a mix of 1-bedroom, 2-bedroom, and a 3-bedroom/2-bath unit, appealing to a wide tenant base. Recent operating attributes include gas baseboard heating, individual hot water tanks, and separate electric and gas meters—ideal for reducing ownership overhead and simplifying tenant utility billing.
The building sits on a 0.06-acre lot, and its central location provides easy access to major highways, transit, schools, and local amenities. Strong rental demand, combined with flexible tenancy and Newark’s continued growth trajectory, positions this property as an excellent value-add or long-term hold investment.
The building sits on a 0.06-acre lot, and its central location provides easy access to major highways, transit, schools, and local amenities. Strong rental demand, combined with flexible tenancy and Newark’s continued growth trajectory, positions this property as an excellent value-add or long-term hold investment.
Property Facts
| Price Per Unit | $279,833 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.07 AC |
| No. Units | 6 | Building Size | 5,040 SF |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1950 |
| Apartment Style | Low-Rise | ||
| Zoning | R-3 - Ironbound section 6 apartments + 3 parking spaces, 3-1-bedroom apartments: 2-2-bedroom apartment, 1–3-bedroom 2 bath apartment. | ||
| Price Per Unit | $279,833 |
| Sale Type | Investment |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.07 AC |
| Building Size | 5,040 SF |
| No. Stories | 3 |
| Year Built | 1950 |
| Zoning | R-3 - Ironbound section 6 apartments + 3 parking spaces, 3-1-bedroom apartments: 2-2-bedroom apartment, 1–3-bedroom 2 bath apartment. |
Amenities
Site Amenities
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 3 | - | - |
| 2+1 | 2 | - | - |
| 3+2 | 1 | - | - |
Property Taxes
| Parcel Number | 14-00937-0000-00001 | Improvements Assessment | $280,000 |
| Land Assessment | $100,000 | Total Assessment | $380,000 |
Property Taxes
Parcel Number
14-00937-0000-00001
Land Assessment
$100,000
Improvements Assessment
$280,000
Total Assessment
$380,000
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