219 Summer Ave Newark, NJ 07104
Nine-unit multifamily property in Newark's North Ward with strong occupancy.
Property Features for 219 Summer Ave
General Information
- Standard status
- Active
Building Details
- Year built
- 2014
Source:
Corcoran
Listing Agent: ERIC JON MELNIKOFF
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
Newark Multifamily Investment Opportunity
This is a stabilized nine-unit multifamily property located in the growing North Ward of Newark, New Jersey. Constructed in 2014, the property features modern layouts and requires minimal deferred maintenance. The building maintains a strong tenant mix and consistent occupancy. A rare amenity for this submarket, the property includes 10 private parking spots. The property is positioned for cash flow with in-place income and potential for upside through rent optimization. Utilities are individually metered, and the structure is low-maintenance. The property is intended for investment purposes.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Newark
- County
- Essex
- State
- New Jersey
- Longitude
- -74.1714368
- Latitude
- 40.7592102
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Nine-unit multifamily property in Newark's North Ward with strong occupancy.
Where is this apartment building located?
The property is located at 219 Summer Ave Newark, NJ.
What is the asking price?
The asking price for this property is $2,650,000.
What are key features of this property?
This property features: - Stabilized 9-unit asset in Newark's growing North Ward.; - Trading at a true 6.5% cap rate, positioned for cash flow from Day 1.; - Built in 2014 with modern layouts and minimal deferred maintenance.