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773-775 Sanford Ave 12 Unit Apartment Building $15,000,000 ($1,250,000/Unit) 7.25% Cap Rate Newark, NJ 07106
Investment Highlights
- 7.25% Entry Cap Rate
- Major Upside In Under Market Rents
- Asking $125,000 A Unit
- Value- Add Adding Bedrooms To Units
Executive Summary
A 12-Unit Multi-Family Property Offering Immediate In-Place Cash Flow and Long-Term Appreciation Potential
Located on Newark’s West Side with Connectivity to South Orange Avenue, Springfield Avenue, and Frequent Bus Service to Newark Penn Station and
Seton Hall University
Proximity to I-280 and I-78 Provides Quick Access to Downtown Newark, Newark Liberty International Airport, and Regional Employment Centers
Greater Newark Remains One of North Jersey’s Most Affordable Submarkets
Market Dynamics Affordable Rental Housing, Supported by Zoning Modernization, Selective Tax Incentives, and Spillover Demand from Downtown’s
Higher-Priced Core
46 Percent Upside in Rents
All Units are Oversized, Value-Add in Splitting the Units Up
Located on Newark’s West Side with Connectivity to South Orange Avenue, Springfield Avenue, and Frequent Bus Service to Newark Penn Station and
Seton Hall University
Proximity to I-280 and I-78 Provides Quick Access to Downtown Newark, Newark Liberty International Airport, and Regional Employment Centers
Greater Newark Remains One of North Jersey’s Most Affordable Submarkets
Market Dynamics Affordable Rental Housing, Supported by Zoning Modernization, Selective Tax Incentives, and Spillover Demand from Downtown’s
Higher-Priced Core
46 Percent Upside in Rents
All Units are Oversized, Value-Add in Splitting the Units Up
Property Facts
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Property Taxes
| Parcel Number | 14-04132-0000-00003 | Improvements Assessment | $655,000 |
| Land Assessment | $240,000 | Total Assessment | $895,000 |
Property Taxes
Parcel Number
14-04132-0000-00003
Land Assessment
$240,000
Improvements Assessment
$655,000
Total Assessment
$895,000
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773-775 Sanford Ave
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