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218 Mulberry St 4 Unit Apartment Building $5,800,000 ($1,450,000/Unit) 5.03% Cap Rate Newark, NJ 07102
Investment Highlights
- Redevelopment Zone
- Long-Term Upside Potential
- Value-Add Investment
- Located in the Heart of Downtown Newark
Executive Summary
218 Mulberry Street is a mixed-use, income-producing property located in the heart of Downtown Newark, steps from the Prudential Center, Mulberry Commons Park, and Newark Penn Station. The asset offers stable in-place income today and high long-term upside through assemblage, public-private partnership, or future redevelopment.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$349,200
|
$34.49
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$349,200
|
$34.49
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$57,300
|
$5.66
|
| Net Operating Income |
$291,900
|
$28.83
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $349,200 |
| Annual Per SF | $34.49 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $349,200 |
| Annual Per SF | $34.49 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $57,300 |
| Annual Per SF | $5.66 |
| Net Operating Income | |
|---|---|
| Annual | $291,900 |
| Annual Per SF | $28.83 |
Property Facts
| Price | $5,800,000 | Apartment Style | Low-Rise |
| Price Per Unit | $1,450,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.08 AC |
| Cap Rate | 5.03% | Building Size | 10,125 SF |
| Sale Condition | Redevelopment Project | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1978 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | RDV - Redevelopment Zone | ||
| Price | $5,800,000 |
| Price Per Unit | $1,450,000 |
| Sale Type | Investment |
| Cap Rate | 5.03% |
| Sale Condition | Redevelopment Project |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.08 AC |
| Building Size | 10,125 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1978 |
| Opportunity Zone |
Yes |
| Zoning | RDV - Redevelopment Zone |
1 1
Walk Score®
Walker's Paradise (96)
Transit Score®
Rider's Paradise (95)
Property Taxes
| Parcel Number | 14-00872-0000-00056 | Improvements Assessment | $486,500 |
| Land Assessment | $483,200 | Total Assessment | $969,700 |
Property Taxes
Parcel Number
14-00872-0000-00056
Land Assessment
$483,200
Improvements Assessment
$486,500
Total Assessment
$969,700
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218 Mulberry St
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