18-Unit Apartment
New
For Sale
$1,499,000
163-165 LIVINGSTON Avenue, New Brunswick, NJ 07004
Commercial Sale, New Brunswick, NJ
Property Size4,752 SF
Lot Size0.15 Acres
Price / SF$315.45
Days on Market4
Property Features for 163-165 LIVINGSTON Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-3A
Parking
2
Parking features
Offsite
Directions
Livingston Ave between Welton St and Suydam St.
Standard status
Active
APN
1300187000000001
Size
4,752 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
26208
Utilities
Sewer type
Public Sewer
Heating system
Radiant
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1900
Floors in Building
2
Flooring type
Carpet, Tile, Concrete
Building materials
Vinyl Siding
Roof type
Asphalt
Listing Agency:
REAL
(855) 450-0442
Listed By:
Stefanie Martin
(212) 380-3203
Added: Sep 7
Changed: Sep 10
Last Checked: Sep 10 at 7:06PM
MLS# 2704142R
Copyright © 2026 All Jersey MLS. 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 4,752-square-foot, 18-unit licensed apartment property includes 14 bedrooms, two units with bedroom and kitchen areas, and two one-bedroom apartments with private kitchens and baths. Sixteen units are occupied by month-to-month tenants, and a rented garage provides an additional income source. The building dates to 1900 and features vinyl siding, asphalt roofing, radiant heat, window-unit cooling, and a mix of carpet, tile, and concrete flooring.
The property occupies 0.1515 acres in New Brunswick, near Rutgers University and Downtown New Brunswick. It is zoned C-3A and served by public water and public sewer. Parking is listed as offsite, providing a defined multifamily configuration with varied residential accommodations and an ancillary garage component.
The property occupies 0.1515 acres in New Brunswick, near Rutgers University and Downtown New Brunswick. It is zoned C-3A and served by public water and public sewer. Parking is listed as offsite, providing a defined multifamily configuration with varied residential accommodations and an ancillary garage component.
Key Highlights
- 18‑unit licensed apartment property on 0.1515 acres
- 4,752 square feet with 14 bedrooms and varied unit layouts
- 16 of 18 units occupied by month‑to‑month tenants
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
$73,076
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
4.87%
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%
$1,461,520
$1.5M
Cap Rate 7%
$1,043,943
$1.0M
Cap Rate 9%
$811,956
$812.0K
Market Conditions
NOI Build-Up for 4,752 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
$142.6K $30.00/SF
− Vacancy
−$9.7K −$2.04/SF
EGI
$132.9K $27.96/SF
− OpEx
−$59.8K −$12.58/SF
NOI
$73.1K $15.38/SF
Area
Middlesex County, NJ
Vacancy
6.80%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
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%
$1,461,520
Cap Rate 7%
$1,043,943
Cap Rate 9%
$811,956
Alternative Uses
Best Use
Apartment 5plus
$1.04M
$913.5K – $1.22M
NOI $73,076 @ 7.0% cap · market cap 4.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.24M
$1.09M – $1.45M
NOI $86,859 @ 7.0% cap · market cap 5.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
18
Residential units
88.9%
Occupancy
Location Intelligence
Trade Area within ½ mile
4,156
Businesses Nearby
Explore this area
Business Placement
Demographics for 07004, NJ
7,872
Population
3,054
Households
2.6
Avg Household Size
44
Median Age
51%
College-Educated
97%
High-School Grad
10.1 sq mi
ZIP Area
779
Density / Sq Mi
$113,750
Median Household Income
$73,322
Median Earnings
$2,576
Median Rent
$651,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Licensed multifamily property with varied unit configurations, public utilities, and supplemental garage income.
Where is this apartment building located?
The property is located at 163-165 LIVINGSTON Avenue New Brunswick, NJ.
What is the asking price?
The asking price for this property is $1,499,000.
What are key features of this property?
This property features: 18‑unit licensed apartment property on 0.1515 acres; 4,752 square feet with 14 bedrooms and varied unit layouts; 16 of 18 units occupied by month‑to‑month tenants
