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712-714 Summer Ave 7 Unit Apartment Building $166,800 ($23,829/Unit) Newark, NJ 07104
Investment Highlights
- Receivership Auction - Low Reserves
- Stabilized with upside potential.
- In "Urban Target Area" (UTA)
Executive Summary
Court Ordered Receivership Auction Sale. July 14 @6PM ET.
This property consists of 6 residential apartments plus basement.
Low maintenance & income producing
Value add opportunity.
In "Urban Target Area" (UTA).
2% Broker Coop Offered.
Low Reserve @ $1,049,000
For inspection times please see our website: https://auctionadvisors.com/property-details/essex_auction_438/
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 6 residential apartments plus basement.
Low maintenance & income producing
Value add opportunity.
In "Urban Target Area" (UTA).
2% Broker Coop Offered.
Low Reserve @ $1,049,000
For inspection times please see our website: https://auctionadvisors.com/property-details/essex_auction_438/
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 | $166,800 | Apartment Style | Low-Rise |
| Price Per Unit | $23,829 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.10 AC |
| Sale Condition | Distress Sale | Building Size | 7,308 SF |
| No. Units | 7 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 2026 |
| Property Subtype | Apartment |
| Price | $166,800 |
| Price Per Unit | $23,829 |
| Sale Type | Investment |
| Sale Condition | Distress Sale |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.10 AC |
| Building Size | 7,308 SF |
| No. Stories | 3 |
| Year Built | 2026 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 6 | - | - |
1 1
Very walkable
80/100
Moderately drivable
60/100
Good public transit
70/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 14-00763-0000-00013 | Improvements Assessment | $155,000 |
| Land Assessment | $120,000 | Total Assessment | $275,000 |
Property Taxes
Parcel Number
14-00763-0000-00013
Land Assessment
$120,000
Improvements Assessment
$155,000
Total Assessment
$275,000
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712-714 Summer Ave