132 Ridge St Newark, NJ 07104
MULTI_FAMILY - Newark City, NJ
Property Features for 132 Ridge St
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 9
- Bathrooms
- 3
- Rooms
- Bedroom 1, Bathroom 1, Bedroom 9, Bedroom 6, Bedroom 5, Bedroom 7, Bathroom 3, Basement, Bedroom 2, Bedroom 4, Bedroom 3, Bathroom 2, Bedroom 8
- 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.
Investment Insights
Based on property information with market context.
The property is described as generating over $5,000 per month in gross income, with the opportunity to increase revenue to $7,000+ monthly through adjustments to below-market rents. It is located about a 10-minute walk from the Light Rail for quick commuting to Newark Penn Station, and Branch Brook Park is about 5 minutes away. Major regional highway access includes Route 280, Route 21, and the Garden State Parkway.
Please note the seller states the property qualifies for a special loan program with an interest rate as low as 5.875% and no PMI.
Key Highlights
- Three‑family home built in 1940 with nearly 3,700 sq. ft. of living space and a flat roof
- All units currently occupied on month‑to‑month terms; select units can be delivered vacant for the right buyer
- Generating over $5,000/month in gross income; each unit has separate utilities
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 | $94.6k | $25.56 |
| − Vacancy | −$4.6k | −$1.24 |
| EGI | $90.0k | $24.32 |
| − OpEx | −$27.0k | −$7.30 |
| NOI | $63.0k | $17.03 |
