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369 E Kinney St 6 Unit Apartment Building $1,425,000 ($237,500/Unit) 6.20% Cap Rate Newark, NJ 07105
Executive Summary
Six-family investment property located in the Ironbound. The building features one 1-bedroom apartment and five 2-bedroom apartments, offering excellent rental demand and consistent income potential. Property is in good condition, making it a solid turnkey opportunity for investors seeking immediate cash flow with minimal upfront improvements. Well-maintained units appeal to long-term tenants and support stable occupancy. Conveniently located near major highways, public transportation, schools, and local amenities. Positioned in a growing Newark market with continued redevelopment and upside potential.
Data Room Click Here to Access
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,425,000 | Apartment Style | Low-Rise |
| Price Per Unit | $237,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.06 AC |
| Cap Rate | 6.20% | Building Size | 4,020 SF |
| No. Units | 6 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1950 |
| Zoning | R3 - multifamily | ||
| Price | $1,425,000 |
| Price Per Unit | $237,500 |
| Sale Type | Investment |
| Cap Rate | 6.20% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.06 AC |
| Building Size | 4,020 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1950 |
| Zoning | R3 - multifamily |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Smoke Free
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | - | - |
| 2+1 | 5 | - | - |
1 1
Exceptionally walkable
100/100
Fairly drivable
40/100
Exceptional public transit
90/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 14-00979-0000-00008 | Total Assessment | $249,000 |
| Land Assessment | $120,000 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $129,000 | Tax Year | 2025 |
Property Taxes
Parcel Number
14-00979-0000-00008
Land Assessment
$120,000
Improvements Assessment
$129,000
Total Assessment
$249,000
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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369 E Kinney St
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