Log In/Sign Up
Your email has been sent.
51 Richards St
Newark, NJ 07105
51 Richards - 6 Family · Multifamily Property For Sale
·
6 Units
Investment Highlights
- Located in Newark’s Ironbound section, a high-demand rental submarket known for strong occupancy and dynamic growth.
- Strategic position near retail, restaurants, and Newark Penn Station with direct access to NYC transit.
- Surrounded by the area's vibrant cultural and business environment, benefiting from long-term rental demand.
- Six large two-bedroom apartments providing consistent, diversified rental income streams.
- Lot includes public utilities, walkout basement, and low-maintenance exterior with vinyl and brick finishes.
Executive Summary
Rare opportunity to acquire a six-family property in the highly sought-after Ironbound section of Newark. 51 Richards Street features six spacious 2-bedroom apartments. Ideal for investors seeking stable cash flow in a prime location with built-in rental demand. The Ironbound market continues to outperform with its vibrant restaurant scene, proximity to Newark Penn Station, and easy access to NYC. Significant upside potential through rent increases and long-term appreciation. A strong addition to any portfolio in one of Newark?s most desirable rental neighborhoods.
Property Facts
| Price Per Unit | $295,833 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.08 AC |
| Cap Rate | 5.56% | Building Size | 5,775 SF |
| No. Units | 6 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1930 |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Zoning | RDV - Redevelopment | ||
| Price Per Unit | $295,833 |
| Sale Type | Investment |
| Cap Rate | 5.56% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.08 AC |
| Building Size | 5,775 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1930 |
| Opportunity Zone |
Yes |
| Zoning | RDV - Redevelopment |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 6 | - | - |
Property Taxes
| Parcel Number | 14-02476-0000-00016 | Improvements Assessment | $220,000 |
| Land Assessment | $140,000 | Total Assessment | $360,000 |
Property Taxes
Parcel Number
14-02476-0000-00016
Land Assessment
$140,000
Improvements Assessment
$220,000
Total Assessment
$360,000
1 of 49
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
