Three-Family Residential Income
288 Pomona Ave, Newark, NJ 07112
MULTI_FAMILY - Newark City, NJ
Property size:
2,736 SFLot size:
0.09 AcresPrice / SF:
$218/SF- Added:
- Feb 8, 2026
- Days on Market:
- 144
- Last Refresh:
- Jul 2 at 5:06 pm
Property Features for 288 Pomona Ave
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- Residential
- Bedrooms
- 5
- Bathrooms
- 3
- Rooms
- Bedroom 1, Bedroom 5, Bathroom 2, Bedroom 3, Bedroom 2, Bathroom 1, Basement, Bedroom 4, Bathroom 3
- Parking
- 7
- Interior features
- Carbon Monoxide Detector, Fire Extinguisher, Smoke Detector, Tile Floors, Wood Floors
- Exterior features
- Wood Fence
- Fencing
- Wood
- Standard status
- Active
- Size
- 2,736 SF
- Lot size
- 0.09 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 5799
Utilities
- Sewer type
- Public Sewer
- Heating system
- Steam, Other (Heating)
- Water source
- Public
Building Details
- Year built
- 1925
- Floors in Building
- 3
- Number of units
- 3
- Roof type
- Rubber, Shingle
- Architectural style
- Other
Listing agent TRACY CHERRY-ARNOLD (908) 338-0639
Listing office EXIT PLATINUM REALTY 200 CLARMONT AVE, Montclair, NJ (973) 746-4777
Listing date Feb 8, 2026
MLS# 4008820
Listing URL
Copyright © 2026 Garden State MLS, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Bright, spacious 3‑family home built in 1925, on a quiet dead‑end street in the Weequahic section
- Features include 5 bedrooms with potential for 7 beds, plus 3 bathrooms
- EIK with pantries and hardwood floors; tile floors in select areas
- Interior safety features: smoke detectors, carbon monoxide detector, and fire extinguisher
- Heating includes steam and another heating source; public water and public sewer
- Roof includes rubber and shingle; wood fencing/enclosed porch & den in unit 2; bonus room in unit 1
Overview
This bright, spacious three-family home offers a practical income setup with flexible living space. The property includes 5 bedrooms with potential for 7, along with 3 bathrooms. Kitchens feature an eat-in area with pantries, and the home is finished with hardwood floors. Unit 2 includes an enclosed porch and den, while Unit 1 offers a bonus room, providing additional options for bedrooms, workspaces, or storage.
Set in the Weequahic section on a quiet dead-end street, the home is positioned for everyday convenience. The immediate area offers access to schools and restaurants, along with local and NYC transportation. The remarks also note proximity to an airport and train access, and the location is described as near upcoming Lionsgate studios.
Built for owner-occupant landlords, the layout supports multi-unit living while retaining flexibility inside each unit. The additional rooms noted for Unit 1 and the enclosed porch and den in Unit 2 can be valuable for tenant differentiation or for tailoring one unit to an owner’s needs. With residential zoning and a self-contained three-family configuration, the property is well-aligned for buyers seeking a straightforward residential income opportunity.
Set in the Weequahic section on a quiet dead-end street, the home is positioned for everyday convenience. The immediate area offers access to schools and restaurants, along with local and NYC transportation. The remarks also note proximity to an airport and train access, and the location is described as near upcoming Lionsgate studios.
Built for owner-occupant landlords, the layout supports multi-unit living while retaining flexibility inside each unit. The additional rooms noted for Unit 1 and the enclosed porch and den in Unit 2 can be valuable for tenant differentiation or for tailoring one unit to an owner’s needs. With residential zoning and a self-contained three-family configuration, the property is well-aligned for buyers seeking a straightforward residential income opportunity.
Local Financial Insights For Multifamily LT 5
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 | $69.6k | $25.44 |
| − Vacancy | −$3.4k | −$1.23 |
| EGI | $66.2k | $24.21 |
| − OpEx | −$19.9k | −$7.26 |
| NOI | $46.4k | $16.95 |
2,736 SF · lease $25.44/SF/yr · vacancy 4.84% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$662.4K
$579.6K – $772.8K
NOI $46,365 @ 7.0% cap · market cap 7.74%
Second Best
Apartment 5plus
$604.7K
$529.1K – $705.5K
NOI $42,328 @ 7.0% cap · market cap 7.07%
Theoretical Best
Office A
$969.4K
$848.2K – $1.13M
NOI $67,858 @ 7.0% cap · market cap 11.33%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Location Insight
- Map
- Local Demand
- City
- Newark
- County
- Essex
- State
- New Jersey
- Longitude
- -74.21889
- Latitude
- 40.711
Nearby Similar for Sale
FAQs
What type of property is this?
Triplex - Bright three-family residence with hardwood floors and flexible bedroom configuration, suited for an owner-occupant landlord.
Where is this triplex located?
The property is located at 288 Pomona Ave Newark, NJ.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Bright, spacious 3‑family home built in 1925, on a quiet dead‑end street in the Weequahic section; Features include 5 bedrooms with potential for 7 beds, plus 3 bathrooms; EIK with pantries and hardwood floors; tile floors in select areas
