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- LoopNet Team
188 Spring St
Newton, NJ 07860
Multifamily Property For Sale
·
10 Units
INVESTMENT HIGHLIGHTS
- Separately Metered Utilities
- Fully Occupied
PROPERTY FACTS
| No. Units | 10 | Building Size | 12,500 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Low-Rise | Year Built | 1890 |
| Building Class | B | Parking Ratio | 0.8/1,000 SF |
| Lot Size | 0.13 AC | ||
| Zoning | C-2 | ||
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.13 AC |
| Building Size | 12,500 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1890 |
| Parking Ratio | 0.8/1,000 SF |
| Zoning | C-2 |
ABOUT 188 SPRING ST , NEWTON, NJ 07860
8 Apartments, 2 Retail Stores. Retail store tenant A.) - Bridal Wear Retail store tenant B.) Catering Facility. 8 Apartments, All are 1- Bedroom. 100% Occupied. Property Owner own's all kitchen equipment (formerly a restaurant occupied entire street level). High cap rate deal with significant upside potential. All residential rents are under market. 4 Rear Apartments have large wood terraces and separate entrances. All tenants have access through main apartment corridor- 2 floors with 4 apartments on each floor. Tenants pay electricity (heat and lights). Small parking lot in rear of building. Entire structure is masonry, virtually no exterior maintenance other than occasional snow salting/shoveling. Average apartment rent is around $1,000 with neighboring properties receiving upwards of $1300 on 1 - Bedroom Rentals. Showings by appointment only after proof of funds. All tenants have leases.
PROPERTY TAXES
| Parcel Number | 15-00008-09-00006 | Improvements Assessment | $828,800 |
| Land Assessment | $104,400 | Total Assessment | $933,200 |
PROPERTY TAXES
