9-11 Clark St 16 Unit Apartment Building $4,999,999 ($312,500/Unit) 6.78% Cap Rate Newark, NJ 07104
INVESTMENT HIGHLIGHTS
- Near broad st train station & Newark light rail
EXECUTIVE SUMMARY
16 apartment building build 2023 located on lower north Newark near broad street light rail and train station. 8- 1 bedroom apartments and 8-2 bedroom apartments 8 park spaces, each apartment comes with stove, dishwasher, microwave, refrigerator, washer and dryer. Granite tops and ceramic back splash, elevator and gym. Separate utilities , heat and cool split unit . Yearly gross income $ 472,000.00
PROPERTY FACTS
| Price | $4,999,999 |
| Price Per Unit | $312,500 |
| Sale Type | Investment |
| Cap Rate | 6.78% |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | A |
| Lot Size | 0.12 AC |
| Building Size | 10,000 SF |
| No. Stories | 5 |
| Year Built | 2023 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 8 | - | 690 - 869 |
| 2+1 | 8 | - | 930 |
Walk Score®
Very Walkable (88)
Transit Score®
Excellent Transit (79)
PROPERTY TAXES
| Parcel Number | 14-00449-0000-00066 | Improvements Assessment | $2,559,600 |
| Land Assessment | $140,400 | Total Assessment | $2,700,000 |
