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832 Mount Prospect Ave 12 Unit Apartment Building $3,400,000 ($283,333/Unit) 6.70% Cap Rate Newark, NJ 07104
Investment Highlights
- Larger, Better-Amenitized Units
- Fully Occupied, Cash-Flowing Today
- Documented Capital Reinvestment
- Tenant-Paid Utility Structure
- Embedded Rent Upside
- Transit-Oriented Renter Demand
Executive Summary
Trivium Real Estate Advisors is pleased to present the exclusive opportunity to acquire 832-34-36 Mt Prospect Avenue, an 11-unit, fully occupied multifamily asset located in Newark’s North Ward, Essex County, New Jersey. The Property offers an investor the chance to acquire a stabilized, cash-flowing, well-amenitized asset — large units with 2 full bathrooms, central air, and on-site parking — in an established residential corridor, with a clear, near-term path to normalize operating expenses and close a modest embedded gap between in-place and market rent.
? Larger, Better-Amenitized Units: every unit offers 2 full bathrooms and central air — uncommon among comparable North Ward product.
? Tenant-Paid Utility Structure: electric and gas are separately metered per unit and paid by tenants; ownership's exposure is limited to water/sewer.
? Fully Occupied, Cash-Flowing Today: 100% occupied at close, with trailing income already covering debt service and then some — this asset performs from day one, not a lease-up play.
? Embedded Rent Upside: in-place rents sit below market, with room to grow further as leases turn.
? Documented Capital Reinvestment: meaningful trailing capex — renovations, HVAC, roof, appliances — points to an active, well-maintained asset, not deferred maintenance.
? Transit-Oriented Renter Demand: walking distance to Newark Light Rail, drawing renters priced out of Hudson County moving west along transit lines.
? Employment Base Near the Port & Airport: steady metro job growth led by transportation and warehousing tied to the port and Newark Liberty Airport.
? Established, Amenity-Rich Corridor: adjacent to a historic district and backed by an active business improvement district.
? Larger, Better-Amenitized Units: every unit offers 2 full bathrooms and central air — uncommon among comparable North Ward product.
? Tenant-Paid Utility Structure: electric and gas are separately metered per unit and paid by tenants; ownership's exposure is limited to water/sewer.
? Fully Occupied, Cash-Flowing Today: 100% occupied at close, with trailing income already covering debt service and then some — this asset performs from day one, not a lease-up play.
? Embedded Rent Upside: in-place rents sit below market, with room to grow further as leases turn.
? Documented Capital Reinvestment: meaningful trailing capex — renovations, HVAC, roof, appliances — points to an active, well-maintained asset, not deferred maintenance.
? Transit-Oriented Renter Demand: walking distance to Newark Light Rail, drawing renters priced out of Hudson County moving west along transit lines.
? Employment Base Near the Port & Airport: steady metro job growth led by transportation and warehousing tied to the port and Newark Liberty Airport.
? Established, Amenity-Rich Corridor: adjacent to a historic district and backed by an active business improvement district.
Property Facts
Amenities
Unit Amenities
- Air Conditioning
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 4+2 | 2 | - | - |
| 3+2 | 9 | - | - |
1 1
Very walkable
80/100
Moderately drivable
60/100
Good public transit
60/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 14-00813-0000-00047 | Improvements Assessment | $333,000 |
| Land Assessment | $19,600 | Total Assessment | $352,600 |
Property Taxes
Parcel Number
14-00813-0000-00047
Land Assessment
$19,600
Improvements Assessment
$333,000
Total Assessment
$352,600
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