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487-489 18th Ave 487-489 18th Ave 9 Unit Apartment Building $1,650,000 ($183,333/Unit) 7.46% Cap Rate Newark, NJ 07103
Investment Highlights
- Access & Connectivity
- Nearby Higher Education
- Durable Brick Construction
- Area Amenities & Demand Drivers
- Separately Metered Utilities
- Strong Rental Demographics & Demand
Executive Summary
Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the multi-family investment property located at 487-489 18th Ave in Newark, NJ (the “Property”). The three-story building contains seven (7) 2-Bedroom/1-Bathroom units and two (2) 1-Bedroom/1-Bathroom units, situated upon a 0.06-acre parcel and features on-street parking. 487–489 18th Avenue is strategically located in Newark’s West Side, offering strong access to neighborhood retail corridors, local employment centers, and dense surrounding residential communities. The property benefits from convenient connectivity to major thoroughfares including South Orange Avenue and Springfield Avenue, with direct access to Interstate 280 and the Garden State Parkway, providing efficient regional connectivity throughout Essex County and into New York City.
Property Facts
| Price | $1,650,000 | Building Class | C |
| Price Per Unit | $183,333 | Lot Size | 0.06 AC |
| Sale Type | Investment | Building Size | 7,100 SF |
| Cap Rate | 7.46% | Average Occupancy | 100% |
| No. Units | 9 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1900 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Price | $1,650,000 |
| Price Per Unit | $183,333 |
| Sale Type | Investment |
| Cap Rate | 7.46% |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.06 AC |
| Building Size | 7,100 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1900 |
| Opportunity Zone |
Yes |
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Exceptionally walkable
100/100
Fairly drivable
50/100
Exceptional public transit
90/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 14-00314-0000-00016 | Improvements Assessment | $450,800 |
| Land Assessment | $79,200 | Total Assessment | $530,000 |
Property Taxes
Parcel Number
14-00314-0000-00016
Land Assessment
$79,200
Improvements Assessment
$450,800
Total Assessment
$530,000
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487-489 18th Ave | 487-489 18th Ave
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