Three-Unit Multifamily
For Sale
$699,900
Pending
132 Ridge St, Newark, NJ 07104
Multi-Family, 3-Three Story, Newark City, NJ
Property Size3,700 SF
Lot Size0.06 Acres
Days on Market543
Property Features for 132 Ridge St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
9
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bedroom 4, Bathroom 1, Basement, Bathroom 2, Bedroom 1, Bedroom 5, Bedroom 8, Bedroom 6, Bathroom 3, Bedroom 2, Bedroom 9, Bedroom 7
Directions
Between Park Ave and Bloomfield Ave
Standard status
Pending
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
12428
Utilities
Water source
Public
Building Details
Year built
1940
Floors in Building
3
Number of units
3
Roof type
Flat
Architectural style
Other
Listing Agency:
EXP REALTY, LLC
(866) 201-6210
Listed By:
JOHNATHAN WELLINGTON
(866) 201-6210
Added: Mar 5, 2025
Changed: Aug 19
Last Checked: Aug 30 at 7:06AM
MLS# 3949269
Copyright © 2026 Garden State MLS, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This three-unit multifamily building offers nearly 3,700 sq. ft. of living space across three units, with each unit currently occupied on a month-to-month basis. The property has separate utilities for the units, which can support flexibility for both owner-occupants and investors. Select units can be delivered vacant for the right buyer.
Built in 1940, the home sits on a 0.06-acre lot and features a flat roof with public water service.
For commuting and regional access, the property is about a 10-minute walk to the Light Rail for quick trips to Newark Penn Station. Branch Brook Park is also nearby, and major highways including Route 280, Route 21, and the Garden State Parkway provide access to the broader area.
Built in 1940, the home sits on a 0.06-acre lot and features a flat roof with public water service.
For commuting and regional access, the property is about a 10-minute walk to the Light Rail for quick trips to Newark Penn Station. Branch Brook Park is also nearby, and major highways including Route 280, Route 21, and the Garden State Parkway provide access to the broader area.
Key Highlights
- Nearly 3,700 sq. ft. three‑unit multifamily building
- Each unit currently occupied on a month‑to‑month basis; select units may be delivered vacant
- Separate utilities for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$62,996
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.00%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,259,920
$1.3M
Cap Rate 7%
$899,943
$899.9K
Cap Rate 9%
$699,956
$700.0K
Market Conditions
NOI Build-Up for 3,700 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$94.6K $25.56/SF
− Vacancy
−$4.6K −$1.24/SF
EGI
$90.0K $24.32/SF
− OpEx
−$27.0K −$7.30/SF
NOI
$63.0K $17.03/SF
Area
ZIP 07104
Vacancy
4.84%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,259,920
Cap Rate 7%
$899,943
Cap Rate 9%
$699,956
Alternative Uses
Best Use
Multifamily LT 5
$899.9K
$787.5K – $1.05M
NOI $62,996 @ 7.0% cap · market cap 9.00%
Second Best
Apartment 5plus
$827.7K
$724.2K – $965.6K
NOI $57,936 @ 7.0% cap · market cap 8.28%
Theoretical Best
Office A
$1.17M
$1.02M – $1.37M
NOI $81,925 @ 7.0% cap · market cap 11.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,747
Businesses Nearby
Explore this area
Business Placement
Demographics for 07104, NJ
54,051
Population
21,762
Households
2.5
Avg Household Size
35
Median Age
21%
College-Educated
71%
High-School Grad
2.5 sq mi
ZIP Area
21,620
Density / Sq Mi
$51,199
Median Household Income
$36,139
Median Earnings
$1,343
Median Rent
$337,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit multifamily property with month-to-month occupancy and separate utilities, plus a flat roof and public water service.
Where is this triplex located?
The property is located at 132 Ridge St Newark, NJ.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: Nearly 3,700 sq. ft. three‑unit multifamily building; Each unit currently occupied on a month‑to‑month basis; select units may be delivered vacant; Separate utilities for each unit
