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Fully Leased MF by Downtown Newark 521-523 Washington St 20 Apartment Units Online Auction Sale Newark, NJ 07102
Investment Highlights
- Investors will want to acquire 521 Washington Street, a fully leased and income-producing multifamily building strategically placed in Newark.
- Positioned along Washington Street in Newark’s South Broad Street neighborhood, just a short walk from Broad, Lafayette, and Market Streets.
- Conveniently 1.6 miles from University Hospital and enjoys proximity to Newark’s Central Business District and Newark International Airport.
- Transit-oriented location by NJ Route 21, enjoying access to major roadways US Route 9, Interstates 95, 280, and 78, and the Garden State Parkway.
- Fully leased by Patriot First Professional Services Inc, with historic occupancy since 2018 and over seven years remaining on its lease.
- Within walking distance of Seton Hall Law School, Rutgers University Newark Campus, the New Jersey Institute of Technology, and Essex County College.
Executive Summary
Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the multifamily building located at 521-523 Washington Street in Newark, New Jersey. The property consists of a three-story multifamily building containing 20 beds with 4,838 square feet of gross leasable area on a 0.09-acre corner parcel of land. 521-523 Washington Street is 100% leased to Patriot First Professional Services Inc. Patriot First Professional Services, Inc has leased this building since 2018 and recently extended its lease term (preemptively), demonstrating a commitment to the site and the market. The company has over seven years remaining on its lease, which features attractive annual rent increases.
Strategically situated on Washington Street, a key thoroughfare serving both local commerce and commuter traffic, 521-523 Washington Street benefits from a highly accessible location within Newark's densely populated South Broad Street neighborhood. The property is within walking distance of Broad Street, Lafayette Street, and Market Street, placing it near a wide range of retail, dining, and service amenities. Public transportation options are abundant, with several commuter rail stations nearby, including Newark Penn Station, located approximately 1.2 miles away and providing direct rail service to Manhattan.
521-523 Washington Street also offers outstanding regional connectivity via municipal bus service and convenient access to New Jersey Route 21, Interstates 78, 95, and 280, as well as the Garden State Parkway. In addition, the surrounding area is home to numerous schools, national retailers, and major employment centers, while Newark's Central Business District is just minutes away, further enhancing the property's accessibility and long-term appeal.
Newark is a suburb of New York City and is the county seat of Essex County within the New York metropolitan area. The densely populated area is 11 miles southwest of New York City.
Property tours are available by appointment only. Please contact the listing broker to schedule.
Strategically situated on Washington Street, a key thoroughfare serving both local commerce and commuter traffic, 521-523 Washington Street benefits from a highly accessible location within Newark's densely populated South Broad Street neighborhood. The property is within walking distance of Broad Street, Lafayette Street, and Market Street, placing it near a wide range of retail, dining, and service amenities. Public transportation options are abundant, with several commuter rail stations nearby, including Newark Penn Station, located approximately 1.2 miles away and providing direct rail service to Manhattan.
521-523 Washington Street also offers outstanding regional connectivity via municipal bus service and convenient access to New Jersey Route 21, Interstates 78, 95, and 280, as well as the Garden State Parkway. In addition, the surrounding area is home to numerous schools, national retailers, and major employment centers, while Newark's Central Business District is just minutes away, further enhancing the property's accessibility and long-term appeal.
Newark is a suburb of New York City and is the county seat of Essex County within the New York metropolitan area. The densely populated area is 11 miles southwest of New York City.
Property tours are available by appointment only. Please contact the listing broker to schedule.
Offering Memorandum Click Here to Access
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
- Purchase Agreement
- Third Party Reports
- Title and Insurance
- Miscellaneous
Market Analytics Click Here to Access
Property Facts
| Sale Type | Investment | Building Class | C |
| Sale Condition | Auction Sale | Lot Size | 0.09 AC |
| Type of Ownership | Fee Simple | Building Size | 4,838 SF |
| No. Units | 20 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1915 |
| Apartment Style | Low-Rise | Parcel Number | 14-00122-0000-00043 |
| Sale Type | Investment |
| Sale Condition | Auction Sale |
| Type of Ownership | Fee Simple |
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.09 AC |
| Building Size | 4,838 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1915 |
| Parcel Number | 14-00122-0000-00043 |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Oven
- Range
- Tub/Shower
Site Amenities
- Controlled Access
- Tenant Controlled HVAC
- Recycling
- Smoke Free
- Smoke Detector
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Exceptionally walkable
90/100
Moderately drivable
60/100
Exceptional public transit
100/100
Fairly bikeable
50/100
Sale Advisors
Sale Advisors
Michael Lombardi, Executive Vice President
Executive Vice President at Horvath & Tremblay, located in Saddle Brook, New Jersey. Licensed broker/salesperson in the state of NJ. Focus on selling investment properties including strip centers, shopping centers, office buildings, industrial/warehouse, mixed use properties and single tenant net lease on a local, regional and national level.
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Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000
Maximum Transaction Fee
$300,000
Example Calculation
Winning Bid Amount
$5,000,000
Transaction Fee
$150,000 (3%)
Total Purchase Price
$5,150,000
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Fully Leased MF by Downtown Newark | 521-523 Washington St
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