Triplex Completely
For Sale
$699,000
119 Littleton Ave, Newark, NJ 07103
Multi-Family, 3-Three Story, Newark City, NJ
Property Size3,036 SF
Lot Size0.07 Acres
Price / SF$230.24
Days on Market299
Property Features for 119 Littleton Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bedroom 3, Bedroom 1, Bedroom 5, Bedroom 6, Bathroom 1, Bedroom 4, Basement, Bathroom 2, Bedroom 2
Directions
12th Ave to Littleton Ave
Standard status
Active
Size
3,036 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
6856
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Baseboard, Hot Water(Heating)
Water source
Public
Building Details
Year built
1897
Floors in Building
3
Number of units
3
Roof type
Flat, Shingle
Architectural style
Other
Listing Agency:
EXP REALTY, LLC
(866) 201-6210
Listed By:
EDWENCE GEORGES · License #1648283
(866) 201-6210
Added: Nov 3, 2025
Changed: Aug 19
Last Checked: Aug 29 at 7:06PM
MLS# 3995951
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.
119 Littleton Ave is a three-family triplex that was completely renovated in 2022. The property provides updated kitchens with stainless steel appliances, modern bathrooms, and new flooring throughout each unit, supporting both investor and owner-occupant use. The home includes a basement and multiple bedrooms and bathrooms across the three apartments.
On a 0.07-acre lot, the property is 3,036 square feet and features hot water heating with baseboard. Utilities include cable availability, with public water and public sewer. The roof is described as flat and shingle, and the building was built in 1897.
The location is positioned close to downtown Newark and major area employers and institutions, including Rutgers University, NJIT, and University Hospital. Commuting options are supported by access to major highways (I-280, Garden State Parkway, and I-78) and public transportation via NJ Transit buses and Newark Penn Station.
On a 0.07-acre lot, the property is 3,036 square feet and features hot water heating with baseboard. Utilities include cable availability, with public water and public sewer. The roof is described as flat and shingle, and the building was built in 1897.
The location is positioned close to downtown Newark and major area employers and institutions, including Rutgers University, NJIT, and University Hospital. Commuting options are supported by access to major highways (I-280, Garden State Parkway, and I-78) and public transportation via NJ Transit buses and Newark Penn Station.
Key Highlights
- Completely renovated 2022 three‑family triplex at 119 Littleton Ave
- Updated kitchens with stainless steel appliances and modern bathrooms
- New flooring throughout 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
$60,670
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
8.68%
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%
$1,213,400
$1.2M
Cap Rate 7%
$866,714
$866.7K
Cap Rate 9%
$674,111
$674.1K
Market Conditions
NOI Build-Up for 3,036 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
$91.1K $30.00/SF
− Vacancy
−$4.4K −$1.45/SF
EGI
$86.7K $28.55/SF
− OpEx
−$26.0K −$8.56/SF
NOI
$60.7K $19.98/SF
Area
ZIP 07103
Vacancy
4.84%
Lease Rate
$30.00 /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%
$1,213,400
Cap Rate 7%
$866,714
Cap Rate 9%
$674,111
Alternative Uses
Best Use
Multifamily LT 5
$866.7K
$758.4K – $1.01M
NOI $60,670 @ 7.0% cap · market cap 8.68%
Second Best
Apartment 5plus
$787.8K
$689.3K – $919.1K
NOI $55,145 @ 7.0% cap · market cap 7.89%
Theoretical Best
Office A
$1.09M
$950.2K – $1.27M
NOI $76,012 @ 7.0% cap · market cap 10.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,673
Businesses Nearby
Explore this area
Business Placement
Demographics for 07103, NJ
39,439
Population
13,832
Households
2.9
Avg Household Size
30
Median Age
21%
College-Educated
81%
High-School Grad
2.2 sq mi
ZIP Area
17,927
Density / Sq Mi
$42,397
Median Household Income
$34,278
Median Earnings
$1,289
Median Rent
$259,300
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-family triplex renovated in 2022 with updated kitchens, modern bathrooms, and new flooring throughout.
Where is this triplex located?
The property is located at 119 Littleton Ave Newark, NJ.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Completely renovated 2022 three‑family triplex at 119 Littleton Ave; Updated kitchens with stainless steel appliances and modern bathrooms; New flooring throughout each unit
