Newark Multifamily Investment
For Sale
$2,650,000
219 Summer Ave, Newark, NJ 07104
Nine-unit multifamily property in Newark's North Ward with strong occupancy.
Property SizeContact for details
Days on Market470
Property Features for 219 Summer Ave
General Information
Standard status
Active
Taxes and HOA fees
Annual Taxes
$29,534
Building Details
Year Built
2014
Listing Agency:
KELLER WILLIAMS PROSPERITY REALTY
Listed By:
ERIC JON MELNIKOFF · License #277525
(973) 696-0077
Source:
Corcoran
Added: May 27, 2025
Changed: Mar 16
Last Checked: Mar 25 at 12:10PM
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 KELLER WILLIAMS PROSPERITY REALTY
Investment Insights
Based on property information with market context.
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.
Key Highlights
- 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.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,714
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
Questions? Ask Rey
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Frequently Asked Questions
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.
