Properties

Description

Mixed-use investment opportunity featuring five income-producing units. The street-level unit is currently configured and occupied as a 2-bedroom, 1-bath unit, with potential commercial use subject to applicable zoning, approvals, and permitted use. The second and third floors each contain two 1-bedroom, 1-bath apartments with living room and kitchen, for a total of four residential units. All units are currently month-to-month with a history of timely rent payments. Current monthly gross income is $5,600, totaling $67,200 annually. Reported annual operating expenses are $14,626, resulting in NOI of $52,574 and an estimated 6.58% cap rate based on the current asking price. Convenient Newark location with access to public transportation and major roadways. Rent roll and financial information available for review. OPEN TO CREATIVE FINANCING OPTIONS. All income, expenses, permitted uses and financial information to be independently verified by buyer.

Features

  • Heating System : Baseboard - Hotwater
  • Cooling System : Central Air
  • Roof Deck : Asphalt Shingle
  • Tax Assessed Valuation: 195700
  • Sewer: Public Sewer
  • Water: Public Water

Appliances

  • Utilities: Electric, Gas-Natural, See Remarks
  • Internet

Additional Info

  • Office Name: REAL
  • Office MLS ID: 4989
  • Agent ID: 277137
  • Tax: 7826
  • Tax Year: 2025
  • Application Fee: $0
  • Zoning: C2

Commercial For Sale

For Sale
$775,000

485 18Th Ave, Newark City, *

  • SQFT 33.10 Acre
  • Built Year 9999

Details

  • Property Type: Commercial
  • Listing Type: For Sale
  • Listing ID: 5454256
  • Price: $775,000
  • Bedrooms: 0
  • Bathrooms: 0
  • Half Bathrooms: 0
  • Square Footage: 0 Sqft
  • Year Built: 9999
  • Year Built Description: Renovated, Unknown
  • Lot Area: 33.10 Acre
  • Status: Active
  • Days On Market: 63

Contact Agent

Sky Realty & Associates

Map

Address Map

  • Country US
  • County Essex
  • City Newark City
  • Zipcode *
  • Street: 18Th Ave
  • Street Number: 485
  • Street Direction: Between S 10th and S 11th Sts, off Springfield Ave
  • Floor Number: 0
  • Longitude: W75° 47' 43.8''
  • Latitude: N40° 43' 55''
  • Internet Display Address: Yes
Property