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168 Sherman Ave 6 Unit Apartment Building $1,290,000 ($215,000/Unit) Newark, NJ 07114
EXECUTIVE SUMMARY
Must see legal 6 Family Investment opportunity! Completely renovated inside & out in 2020, this turn-key property features major updates including a new roof, beams, plumbing, electrical, siding and HVAC systems. Each unit offers 2 bedrooms, 1 bath, an open-concept kitchen/dining area, high ceilings, stainless steel appliances, and is internet, phone and cable ready.
A camera/intercom system is installed in every unit for added security and convenience. All separate utilities and a bonus finished basement. Located near Downtown Newark, Newark International Airport, Newark Penn Station with easy access to major highways and public transportation, this is great chance to lock into a market with rising demand and solid growth potential.
A camera/intercom system is installed in every unit for added security and convenience. All separate utilities and a bonus finished basement. Located near Downtown Newark, Newark International Airport, Newark Penn Station with easy access to major highways and public transportation, this is great chance to lock into a market with rising demand and solid growth potential.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$121,380
|
$20.10
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$121,380
|
$20.10
|
| Net Operating Income |
-
|
-
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $121,380 |
| Annual Per SF | $20.10 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $121,380 |
| Annual Per SF | $20.10 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
PROPERTY FACTS
| Price | $1,290,000 | Building Class | C |
| Price Per Unit | $215,000 | Lot Size | 0.07 AC |
| Sale Type | Investment | Building Size | 6,039 SF |
| No. Units | 6 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built/Renovated | 1969/2020 |
| Apartment Style | Low-Rise |
| Price | $1,290,000 |
| Price Per Unit | $215,000 |
| 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 | 6,039 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1969/2020 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Microwave
- Heating
- Security System
- Kitchen
- Granite Countertops
- Refrigerator
- Oven
- Stainless Steel Appliances
- Tub/Shower
- Freezer
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Public Transportation
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 6 | - | - |
1 1
PROPERTY TAXES
| Parcel Number | 14-02786-0000-00022 | Improvements Assessment | $435,000 (2025) |
| Land Assessment | $140,000 (2025) | Total Assessment | $575,000 (2025) |
PROPERTY TAXES
Parcel Number
14-02786-0000-00022
Land Assessment
$140,000 (2025)
Improvements Assessment
$435,000 (2025)
Total Assessment
$575,000 (2025)
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168 Sherman Ave
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