132 Ridge St, Newark, NJ 07104
- Added:
- Mar 5, 2025
- Days on Market:
- 489
- Last Refresh:
- Jul 7 at 11:06 am
Property Features for 132 Ridge St
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 9
- Bathrooms
- 3
- Rooms
- Basement, Bathroom 1, Bedroom 8, Bedroom 5, Bedroom 1, Bedroom 2, Bedroom 4, Bedroom 6, Bedroom 3, Bedroom 9, Bathroom 2, Bathroom 3, Bedroom 7
- 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 agent JOHNATHAN WELLINGTON (866) 201-6210
Listing office EXP REALTY, LLC 28 VALLEY ROAD #1, Montclair, NJ (866) 201-6210
Listing date Mar 5, 2025
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.
HighLights
- 3‑family home built in 1940 with nearly 3,700 sq. ft. of living space
- All units currently occupied on month‑to‑month basis; select units can be delivered vacant
- Over $5,000/month in gross income reported; units have separate utilities
- 10‑minute walk to the Light Rail; commuting to Newark Penn Station quick and easy (per remarks)
- Branch Brook Park about 5 minutes away (per remarks)
- Public water source; flat roof; qualifies for a special loan program with interest as low as 5.875% and no PMI (per remarks)
Overview
The property is located in Newark City, NJ, Essex County, at 132 Ridge St. The listing describes convenient area access, including a roughly 10-minute walk to the light rail and a commute to Newark Penn Station. Branch Brook Park is identified as about 5 minutes away, and major highways including Route 280, Route 21, and the Garden State Parkway are cited for regional connectivity.
For tenants, the month-to-month structure can support continued occupancy without long commitments, while ownership options may suit an investor seeking a multi-unit setup with separate utility billing. For buyers considering a longer-term plan, the listing states current gross income is over $5,000 per month and describes an opportunity to increase income through rent adjustments. Overall, the configuration and current occupancy status provide multiple pathways for how the next owner may operate the property.
Local Financial Insights For Apartment 5plus
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 | $111.0k | $30.00 |
| − Vacancy | −$5.7k | −$1.53 |
| EGI | $105.3k | $28.47 |
| − OpEx | −$47.4k | −$12.81 |
| NOI | $57.9k | $15.66 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Newark
- County
- Essex
- State
- New Jersey
- Longitude
- -74.1777
- Latitude
- 40.75723
