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38 May St - Receivership Auction - Multifamily in Newark 7 Unit Apartment Building Offered at $799,000 Newark, NJ 07104
Investment Highlights
- Receivership Auction - Low Reserve!
- Stabilized rents with Upside Potential.
Executive Summary
Court Ordered Receivership Auction Sale. July 14 @6PM ET.
This property consists of 7 residential apartment units, including 1 in the basement
Low maintenance & income producing
Value add opportunity.
2% Broker Coop Offered.
Low Reserve @ $799,000!
This property is being sold individually but is part of a 4-property auction in Newark/Orange.
For details, see: https://auctionadvisors.com/property-details/essex_auction_438/
This property consists of 7 residential apartment units, including 1 in the basement
Low maintenance & income producing
Value add opportunity.
2% Broker Coop Offered.
Low Reserve @ $799,000!
This property is being sold individually but is part of a 4-property auction in Newark/Orange.
For details, see: https://auctionadvisors.com/property-details/essex_auction_438/
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
|
| Net Operating Income |
-
|
-
|
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 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
| Price | $799,000 | Property Type | Multifamily |
| Price Per Unit | $114,143 | Building Size | 8,000 SF |
| Sale Type | Investment | No. Stories | 3 |
| Sale Condition | Distress Sale | Year Built | 2026 |
| No. Units | 7 |
| Price | $799,000 |
| Price Per Unit | $114,143 |
| Sale Type | Investment |
| Sale Condition | Distress Sale |
| No. Units | 7 |
| Property Type | Multifamily |
| Building Size | 8,000 SF |
| No. Stories | 3 |
| Year Built | 2026 |
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Very walkable
80/100
Moderately drivable
60/100
Strong public transit
80/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 14-00623-0000-00001 | Improvements Assessment | $119,400 |
| Land Assessment | $140,000 | Total Assessment | $259,400 |
Property Taxes
Parcel Number
14-00623-0000-00001
Land Assessment
$140,000
Improvements Assessment
$119,400
Total Assessment
$259,400
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