New Construction 4-Unit Residential
108 FLEMING AVE Newark, NJ 07105
108 FLEMING AVE, Newark, NJ, 07105
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For Sale
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Modern four-unit building with in-unit washers and dryers in a 6,000 SF multi-story layout.
Property Size6,000 SF
Lot Size0.05 Acres
Price / SF$333.33
Days on Market85
Property Features for 108 FLEMING AVE
General Information
- Standard status
- Active
- Size
- 6,000 SF
- Lot size
- 0.05 Acres
- Property subtype
- Multifamily
Building Details
- Year Built
- 1907
Listing agency
PRE Commercial Real Estate
Listed by
Jason Marzano · License #NJ 0226629
Source
Crexi
Added: Apr 28 Updated: Jul 20 at 5:20PM Checked: Jul 21 at 8:15AM
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Investment Insights
Based on property information with market context.
The property is a new construction, multi-story residential building on a 0.05-acre parcel, totaling 6,000 SF and configured as an ultra-modern four-unit layout. Interiors feature high ceilings with abundant windows for natural light. Each unit includes an open layout with a modern chef’s kitchen, quartz countertops, GE stainless steel appliances, pendant lighting, and generous cabinet space.
Each residence also includes an in-unit washer and dryer. Bathrooms are designed with marble-style tile, dark gray flooring, and black hardware.
As a four-unit property, the building offers a consolidated ownership structure for a residential income setup.
Each residence also includes an in-unit washer and dryer. Bathrooms are designed with marble-style tile, dark gray flooring, and black hardware.
As a four-unit property, the building offers a consolidated ownership structure for a residential income setup.
Key Highlights
- 6,000 SF multi‑story residential building on a 0.05‑acre parcel
- Four‑unit (4‑unit) layout with high ceilings and ample windows for natural light
- Modern chef’s kitchen in the open layout with quartz countertops and GE stainless steel appliances
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $151.2k | $25.20 |
| − Vacancy | −$7.3k | −$1.22 |
| EGI | $143.9k | $23.98 |
| − OpEx | −$43.2k | −$7.19 |
| NOI | $100.7k | $16.79 |
6,000 SF · lease $25.20/SF/yr · vacancy 4.84% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.44M
$1.26M – $1.68M
NOI $100,717 @ 7.0% cap · market cap 5.04%
Second Best
Apartment 5plus
$1.32M
$1.15M – $1.53M
NOI $92,072 @ 7.0% cap · market cap 4.60%
Theoretical Best
Office A
$2.15M
$1.88M – $2.50M
NOI $150,221 @ 7.0% cap · market cap 7.51%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Modern four-unit building with in-unit washers and dryers in a 6,000 SF multi-story layout.
Where is this quadplex located?
The property is located at 108 FLEMING AVE Newark, NJ.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: 6,000 SF multi‑story residential building on a 0.05‑acre parcel; Four‑unit (4‑unit) layout with high ceilings and ample windows for natural light; Modern chef’s kitchen in the open layout with quartz countertops and GE stainless steel appliances
