Spacious Newark Two-Family
56 Lentz Ave, Newark, NJ 07105
Income-producing two-family property with over 4,000 sq ft of living space.
Type:Multi Family
Property size:
4,000 SFPrice / SF:
$206/SF- Added:
- Apr 1, 2026
- Days on Market:
- 52
- Last Refresh:
- Apr 1 at 4:38 am
Property Features for 56 Lentz Ave
General Information
- Standard status
- Active
- Size
- 4,000 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 2002
Listing agent ROMMEL GONZALEZ
Listing office (973) 232-5187
Listing date Apr 1, 2026
Source Elliman
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of ROMMEL GONZALEZ
HighLights
- Strong income‑producing two‑family property in a desirable location.
- Boasting over 4,000 sq ft of finished living space, each unit features 3 bedrooms and 2 bathrooms.
- First unit boasts a private deck, recessed lighting, crown molding, and French doors.
- Versatile ground level with a full bathroom and two additional rooms for recreation or workspace.
- Separate utilities, semi‑private entrances, and ample off‑street parking with a 1‑car garage and double‑wide driveway.
- Conveniently located near public transportation, major highways, parks, shopping, and dining.
Overview
This two-family property in Newark offers over 4,000 sq ft of finished living space. Each unit includes 3 bedrooms, including a primary suite with a private full bath, hardwood flooring, spacious living areas, and eat-in kitchens with ample cabinetry and tiled finishes. The first unit features a bright living room with recessed lighting, crown molding, and French doors leading to a large private deck. The second unit offers a living/dining combination. The ground level includes a full bathroom and two additional rooms suitable for recreation, workspace, or extended living. A laundry area is also located on this level. Additional features include separate utilities, semi-private entrances, a 1-car garage, and a double-wide driveway. The property is located on a corner lot and includes a fenced-in lot. It is conveniently located near public transportation, major highways, parks, shopping, and dining. The property has a bike score of 63, a walk score of 82, and a transit score of 49.
Financial Insights
Value Estimation Calculated for Multifamily LT 5
Conservative
$746.1K
NOI $67,145 @ 9.00% cap · cautious / downside scenario
Moderate
$959.2K
NOI $67,145 @ 7.00% cap · market / base-case scenario
Aggressive
$1.34M
NOI $67,145 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Multifamily LT 5
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $100.8k | $25.20 |
| − Vacancy | −$4.9k | −$1.22 |
| EGI | $95.9k | $23.98 |
| − OpEx | −$28.8k | −$7.19 |
| NOI | $67.1k | $16.79 |
4,000 SF · lease $25.20/SF/yr · vacancy 4.84% · expense 30.00%
Alternative Use Scenarios
Best Use
Multifamily LT 5
$959.2K
$839.3K – $1.12M
NOI $67,145 @ 7.0% cap · market cap 8.14%
Second Best
Apartment 5plus
$876.9K
$767.3K – $1.02M
NOI $61,381 @ 7.0% cap · market cap 7.44%
Theoretical Best
Office A
$1.43M
$1.25M – $1.67M
NOI $100,147 @ 7.0% cap · market cap 12.14%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Newark
- County
- Essex
- State
- New Jersey
- Longitude
- -74.1377062
- Latitude
- 40.7304611
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Income-producing two-family property with over 4,000 sq ft of living space.
Where is this duplex located?
The property is located at 56 Lentz Ave Newark, NJ.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Strong income‑producing two‑family property in a desirable location.; Boasting over 4,000 sq ft of finished living space, each unit features 3 bedrooms and 2 bathrooms.; First unit boasts a private deck, recessed lighting, crown molding, and French doors.
