Four-Unit Quadplex with Detached
203 Oliver St, Newark, NJ 07105
For Sale
$875,000
Each apartment has a three-room plan, with tenant storage in the full basement.
Property Size2,000 SF
Price / SF$437.50
Days on Market173
Property Features for 203 Oliver St
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Public Transit
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
full basement with dedicated tenant storage
expansive rear parking
two private detached garages
Building Details
Building Size
Year Built
Listing Agency:
SKY REALTY ASSOCIATES
Listed By:
JOAO FONSECA
(973) 344-8880
Source:
Tkregroupinc
Added: May 21
Changed: Nov 9
Last Checked: Nov 8 at 6:29PM
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 SKY REALTY ASSOCIATES
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Investment Insights
Based on property information with market context.
This four-unit residential property dates to 1900. Each apartment is arranged across three rooms. A full basement provides dedicated storage for tenants, and the property includes two detached garages along with rear parking.
The property is on Oliver Street in Newark’s Ironbound section, with Penn Station, dining, and transportation connections cited among nearby destinations.
The property is on Oliver Street in Newark’s Ironbound section, with Penn Station, dining, and transportation connections cited among nearby destinations.
Key Highlights
- Four apartments, each with a three‑room layout
- Full basement with tenant storage
- Two detached garages
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,572
Cap Rate
3.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$671,440
$671.4K
Cap Rate 7%
$479,600
$479.6K
Cap Rate 9%
$373,022
$373.0K
Market Conditions
NOI Build-Up for 2,000 SF
Gross rent
$50.4K $25.20/SF
− Vacancy
−$2.4K −$1.22/SF
EGI
$48.0K $23.98/SF
− OpEx
−$14.4K −$7.19/SF
NOI
$33.6K $16.79/SF
Area
ZIP 07105
Vacancy
4.84%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$671,440
Cap Rate 7%
$479,600
Cap Rate 9%
$373,022
Alternative Uses
Best Use
Multifamily LT 5
$479.6K
$419.7K – $559.5K
NOI $33,572 @ 7.0% cap · market cap 3.84%
Second Best
Apartment 5plus
$438.4K
$383.6K – $511.5K
NOI $30,691 @ 7.0% cap · market cap 3.51%
Theoretical Best
Office A
$715.3K
$625.9K – $834.6K
NOI $50,074 @ 7.0% cap · market cap 5.72%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
3,988
Businesses Nearby
Explore this area
Business Placement
Demographics for 07105, NJ
50,870
Population
20,608
Households
2.5
Avg Household Size
35
Median Age
15%
College-Educated
70%
High-School Grad
4.6 sq mi
ZIP Area
11,059
Density / Sq Mi
$55,752
Median Household Income
$33,175
Median Earnings
$1,600
Median Rent
$445,900
Median Home Value
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Market
Properties on Market for Quadplexes in Newark
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Each apartment has a three-room plan, with tenant storage in the full basement.
Where is this quadplex located?
The property is located at 203 Oliver St Newark, NJ.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Four apartments, each with a three‑room layout; Full basement with tenant storage; Two detached garages
