16-Unit Two-Bedroom Apartment
18 Jay Street Newark, NJ 07103
18 Jay Street, Newark, NJ, 07103
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For Sale
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Four-story 1930 brick building with all two-bedroom apartments near major Newark educational and medical employers.
Property Size7,840 SF
Price / SF$306.12
Days on Market32
Property Features for 18 Jay Street
General Information
- Standard status
- Active
- Size
- 7,840 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1930
Listing Agency
ICON Real Estate Advisors
Listed by
David Oropeza · License #8633793
Source
Crexi
Added: Jun 16 Checked: Jul 15 at 10:53 pm
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
Investment Insights
Based on property information with market context.
18 Jay Street is a 16-unit multifamily property in Newark, New Jersey. The four-story brick building was constructed in 1930 and is configured entirely as two-bedroom apartments, providing a consistent unit mix for residents.
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.
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.
Key Highlights
- 16‑unit multifamily building in Newark, NJ
- Four‑story 1930 brick building
- All units are two‑bedroom apartments
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 |
7,840 SF · lease $34.80/SF/yr · vacancy 5.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.03M
$1.78M – $2.37M
NOI $142,405 @ 7.0% cap · market cap 5.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.80M
$2.45M – $3.27M
NOI $196,289 @ 7.0% cap · market cap 8.18%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Jay Street Housing
Housing Authority
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Four-story 1930 brick building with all two-bedroom apartments near major Newark educational and medical employers.
Where is this apartment building located?
The property is located at 18 Jay Street Newark, NJ.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: 16‑unit multifamily building in Newark, NJ; Four‑story 1930 brick building; All units are two‑bedroom apartments
