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Strong Cash Flow Mixed Use Building In Newton 214 Spring St 3 Unit Apartment Building $725,000 ($241,667/Unit) 7.41% Cap Rate Newton, NJ 07860
Investment Highlights
- Good Cash Flow with Residential Rent Upside
- Near Newton Memorial Hospital, Thor Labs and Sussex County Community College
- No Rent Control in Newton
- Strong Retail Tenant
- Apartment Rentals are in High Demand in Newton
Executive Summary
3 Unit Mixed Use - 2 Three BR Apartments and 1 Retail/Restaurant
The two apartments are both 3 BR 1 BA and each have their own outdoor balcony space.
The Retail is a well established restaurant and will be signing a new 5 Year lease.
The Restaurant pays all of their own utilities.
The Apartments pay for all of their own utilities except water/sewer and garbage (paid by landlord).
Ideal location on Spring St with rent upside makes this offering an excellent addition to any portfolio.
Please contact Marc for Income and Expenses and more information
The two apartments are both 3 BR 1 BA and each have their own outdoor balcony space.
The Retail is a well established restaurant and will be signing a new 5 Year lease.
The Restaurant pays all of their own utilities.
The Apartments pay for all of their own utilities except water/sewer and garbage (paid by landlord).
Ideal location on Spring St with rent upside makes this offering an excellent addition to any portfolio.
Please contact Marc for Income and Expenses and more information
Property Facts Under Contract
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Dishwasher
- Microwave
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Freezer
- Large Bedrooms
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Public Transportation
- Walk-Up
- Smoke Detector
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Moderately walkable
70/100
Moderately drivable
70/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 15-00008-06-00005 | Improvements Assessment | $515,900 |
| Land Assessment | $82,000 | Total Assessment | $597,900 |
Property Taxes
Parcel Number
15-00008-06-00005
Land Assessment
$82,000
Improvements Assessment
$515,900
Total Assessment
$597,900
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Contact the Sale Advisor
Strong Cash Flow Mixed Use Building In Newton | 214 Spring St