Three-Family Home with Hardwood
288 Pomona Ave Newark, NJ 07112
For Sale
Contact for pricing
Bright three-unit income property with multiple bedrooms, hardwood floors, and an eat-in kitchen configuration.
Property Size2,736 SF
Price / SF$218.93
Days on Market60
Property Features for 288 Pomona Ave
General Information
- Standard status
- Active
- Size
- 2,736 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1925
Listing Agency:
Exit Platinum Realty
Listed By:
Tracy Cherry-Arnold · License #NJ
Source:
Crexi
Added: May 27
Changed: Jul 10
Last Checked: Jul 22 at 1:10PM
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 Exit Platinum Realty
Investment Insights
Based on property information with market context.
This bright, spacious three-family home offers a practical residential income setup with three baths and an EIK arrangement featuring pantries. The home has hardwood floors and an abundance of natural light throughout, with room to accommodate changing needs, including five bedrooms with potential for a sixth. Unit 1 includes a bonus room, adding flexibility to the layout.
The property is tucked away in the Weequahic section on a quiet dead-end street. It is positioned near upcoming Lionsgate studios and provides easy access to schools, restaurants, and local as well as NYC transportation, along with airport and train connectivity.
With three separate units, this home is well suited for an owner-occupant landlord who wants to live in one unit while generating rental income from the others. The combination of multiple bedroom options, built-in pantry space, and bonus-room flexibility in Unit 1 supports a range of tenant and household needs.
The property is tucked away in the Weequahic section on a quiet dead-end street. It is positioned near upcoming Lionsgate studios and provides easy access to schools, restaurants, and local as well as NYC transportation, along with airport and train connectivity.
With three separate units, this home is well suited for an owner-occupant landlord who wants to live in one unit while generating rental income from the others. The combination of multiple bedroom options, built-in pantry space, and bonus-room flexibility in Unit 1 supports a range of tenant and household needs.
Key Highlights
- Bright 3‑family home built in 1925 in the Weequahic section
- 5 bedrooms total with potential for a 6th bedroom
- 3 total baths across the home
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 Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
FAQs
What type of property is this?
Triplex - Bright three-unit income property with multiple bedrooms, hardwood floors, and an eat-in kitchen configuration.
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 3‑family home built in 1925 in the Weequahic section; 5 bedrooms total with potential for a 6th bedroom; 3 total baths across the home
