18 Jay Street, Newark, NJ 07103
Four-story 1930 brick building with all two-bedroom apartments near major Newark educational and medical employers.
- Added:
- Jun 16, 2026
- Days on Market:
- 9
- Last Refresh:
- Jun 20 at 10:06 am
Property Features for 18 Jay Street
General Information
- Standard status
- Active
- Size
- 7,840 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1930
Listing agent David Oropeza License #8633793
Listing office ICON Real Estate Advisors
Listing date Jun 16, 2026
Source Crexi
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 ICON Real Estate Advisors
HighLights
- 16‑unit multifamily building in Newark, NJ
- Four‑story 1930 brick building
- All units are two‑bedroom apartments
- Near Rutgers University–Newark, NJIT, Essex County College, and University Hospital
- Close to Downtown Newark and Newark Penn Station
- Minutes from major regional transportation routes for access to Northern NJ and NYC
Overview
The property is located near Rutgers University–Newark, NJIT, Essex County College, and University Hospital, placing it within an established educational and medical corridor. It is also described as minutes from Downtown Newark, Newark Penn Station, and major regional transportation routes, supporting convenient access throughout Northern New Jersey and New York City.
With its full complement of two-bedroom units, this asset may fit investors or operators seeking a straightforward residential income building near prominent higher education and healthcare institutions. The location’s access to regional transportation and the surrounding concentration of universities and healthcare entities are practical considerations for day-to-day leasing operations.
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 | $272.8k | $34.80 |
| − Vacancy | −$13.9k | −$1.77 |
| EGI | $258.9k | $33.03 |
| − OpEx | −$116.5k | −$14.86 |
| NOI | $142.4k | $18.16 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Newark
- County
- Essex
- State
- New Jersey
- Longitude
- -74.1820685
- Latitude
- 40.7487421
