Three-Unit Multifamily
For Sale
$699,900
Pending
132 Ridge St, Newark, NJ 07104
Multi-Family, 3-Three Story, Newark City, NJ
Property Size3,700 SF
Lot Size0.06 Acres
Days on Market589
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Property Features for 132 Ridge St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
9
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 5, Bedroom 3, Bedroom 1, Basement, Bathroom 2, Bedroom 8, Bedroom 4, Bedroom 7, Bedroom 6, Bedroom 9, Bathroom 1, Bedroom 2, Bathroom 3
Directions
Between Park Ave and Bloomfield Ave
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 Agency:
EXP REALTY, LLC
Listed By:
JOHNATHAN WELLINGTON
(866) 201-6210
Added: Mar 5, 2025
Changed: Sep 14
Last Checked: Oct 15 at 2:06PM
MLS# 3949269
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.
This three-unit multifamily property contains nearly 3,700 square feet of living space on a 0.06-acre lot. Built in 1940, the building has a flat roof, a basement, public water service, and separate utilities for each residence. Current occupancy is structured on a month-to-month basis, and select units may be delivered vacant to a qualified buyer.
The property is located at 132 Ridge St in Newark, NJ, within a 10-minute walk of the Light Rail. Branch Brook Park is approximately 5 minutes away, while Route 280, Route 21, and the Garden State Parkway provide regional roadway access. The recorded room mix includes nine bedrooms and three bathrooms.
The property is located at 132 Ridge St in Newark, NJ, within a 10-minute walk of the Light Rail. Branch Brook Park is approximately 5 minutes away, while Route 280, Route 21, and the Garden State Parkway provide regional roadway access. The recorded room mix includes nine bedrooms and three bathrooms.
Key Highlights
- Three‑unit multifamily property with nearly 3,700 square feet of living space
- 0.06‑acre lot with a 1940 construction date
- Separate utilities serve each residential unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$62,996
Cap Rate
9.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,259,920
$1.3M
Cap Rate 7%
$899,943
$899.9K
Cap Rate 9%
$699,956
$700.0K
Market Conditions
NOI Build-Up for 3,700 SF
Gross rent
$94.6K $25.56/SF
− Vacancy
−$4.6K −$1.24/SF
EGI
$90.0K $24.32/SF
− OpEx
−$27.0K −$7.30/SF
NOI
$63.0K $17.03/SF
Area
ZIP 07104
Vacancy
4.84%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,259,920
Cap Rate 7%
$899,943
Cap Rate 9%
$699,956
Alternative Uses
Best Use
Multifamily LT 5
$899.9K
$787.5K – $1.05M
NOI $62,996 @ 7.0% cap · market cap 9.00%
Second Best
Apartment 5plus
$827.7K
$724.2K – $965.6K
NOI $57,936 @ 7.0% cap · market cap 8.28%
Theoretical Best
Office A
$1.17M
$1.02M – $1.37M
NOI $81,925 @ 7.0% cap · market cap 11.71%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,747
Businesses Nearby
Explore this area
Business Placement
Demographics for 07104, NJ
54,051
Population
21,762
Households
2.5
Avg Household Size
35
Median Age
21%
College-Educated
71%
High-School Grad
2.5 sq mi
ZIP Area
21,620
Density / Sq Mi
$51,199
Median Household Income
$36,139
Median Earnings
$1,343
Median Rent
$337,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three occupied residential units with separate utilities and month-to-month tenancies in Newark.
Where is this triplex located?
The property is located at 132 Ridge St Newark, NJ.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: Three‑unit multifamily property with nearly 3,700 square feet of living space; 0.06‑acre lot with a 1940 construction date; Separate utilities serve each residential unit
