14-Unit Renovated Apartment
For Sale
$3,480,000
155 Clifton Ave #1, Newark, NJ 07104
Fourteen one-bedroom homes feature open layouts, in-unit laundry hookups, and mini-split heating and cooling.
Property Size9,120 SF
Price / SF$381.58
Days on Market223
Property Features for 155 Clifton Ave #1
General Information
Standard status
Active
Size
9,120 SF
Property subtype
Commercial
Zoning
R-3
Site & Location
Neighborhood
Seventh Avenue
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
14 x 1BR
Multifamily Units
14
Amenities
Stainless steel appliances
Washer & dryer hookups
Ceiling mini-split heating & cooling systems
Building Details
Building Size
9,120 SF
Stories
4
Units
14
Listing Agency:
Re/Max Heritage Properties
(908) 879-4700
Listed By:
Dulce Ruivo · License #268072
(201) 993-0683
Source:
Cammarotarealestate
Added: Mar 16
Changed: Oct 23
Last Checked: Oct 22 at 2:31PM
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 Re/Max Heritage Properties
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Investment Insights
Based on property information with market context.
This 9,120-square-foot apartment building contains 14 one-bedroom residences and has undergone a full rebuild and interior renovation. Apartments feature open-concept layouts, stainless steel appliances, washer and dryer hookups, and mini-split systems for heating and cooling. Ceiling heights reach 9'6" on the three main floors, and the building has 8' doors. The property is zoned R-3 and includes a 5-year tax abatement.
The building is directly opposite the Cathedral Basilica of the Sacred Heart and close to Branch Brook Park. Route 280 is a two-minute drive away, and Newark Penn Station is accessible from the property.
The building is directly opposite the Cathedral Basilica of the Sacred Heart and close to Branch Brook Park. Route 280 is a two-minute drive away, and Newark Penn Station is accessible from the property.
Key Highlights
- 14 one‑bedroom apartments in a 9,120‑square‑foot building
- Rebuilt and gut‑renovated property
- Open layouts, stainless steel appliances, washer and dryer hookups, and mini‑split heating and cooling
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$142,806
Cap Rate
4.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,856,120
$2.9M
Cap Rate 7%
$2,040,086
$2.0M
Cap Rate 9%
$1,586,733
$1.6M
Market Conditions
NOI Build-Up for 9,120 SF
Gross rent
$273.6K $30.00/SF
− Vacancy
−$14.0K −$1.53/SF
EGI
$259.6K $28.47/SF
− OpEx
−$116.8K −$12.81/SF
NOI
$142.8K $15.66/SF
Area
ZIP 07104
Vacancy
5.10%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,856,120
Cap Rate 7%
$2,040,086
Cap Rate 9%
$1,586,733
Alternative Uses
Best Use
Apartment 5plus
$2.04M
$1.79M – $2.38M
NOI $142,806 @ 7.0% cap · market cap 4.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.88M
$2.52M – $3.37M
NOI $201,934 @ 7.0% cap · market cap 5.80%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
14
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,891
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
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Fourteen one-bedroom homes feature open layouts, in-unit laundry hookups, and mini-split heating and cooling.
Where is this apartment building located?
The property is located at 155 Clifton Ave #1 Newark, NJ.
What is the asking price?
The asking price for this property is $3,480,000.
What are key features of this property?
This property features: 14 one‑bedroom apartments in a 9,120‑square‑foot building; Rebuilt and gut‑renovated property; Open layouts, stainless steel appliances, washer and dryer hookups, and mini‑split heating and cooling
