Three-Unit Residential
New
For Sale
$725,000
346 Sanford Ave, Newark, NJ 07106
A shared backyard and basement storage complement the property's three-unit configuration.
Property Size1,840 SF
Price / SF$394.02
Days on Market2
Property Features for 346 Sanford Ave
General Information
Standard status
Active
Size
1,840 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
3
Amenities
shared backyard
basement storage
Building Details
Year Built
1908
Buildings
1
Listing Agency:
COLDWELL BANKER REALTY
Listed By:
Lourdes Marte · License #304472
Source:
Srrealestategroup
Added: Oct 14
Changed: Oct 15
Last Checked: Oct 14 at 7:56PM
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 COLDWELL BANKER REALTY
Investment Insights
Based on property information with market context.
Built in 1920, this triplex contains three residential units. Select apartments have updated kitchens and bathrooms, hardwood floors, and open living and dining areas. Residents also have access to a shared backyard and basement storage.
The property is at 346 Sanford Avenue in Newark, near shopping, restaurants, schools, houses of worship, major highways, and public transportation with access to New York City.
The property is at 346 Sanford Avenue in Newark, near shopping, restaurants, schools, houses of worship, major highways, and public transportation with access to New York City.
Key Highlights
- Three residential units
- Built in 1920
- Select units feature renovated kitchens and bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,793
Cap Rate
4.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$635,860
$635.9K
Cap Rate 7%
$454,186
$454.2K
Cap Rate 9%
$353,256
$353.3K
Market Conditions
NOI Build-Up for 1,840 SF
Gross rent
$48.6K $26.40/SF
− Vacancy
−$3.2K −$1.72/SF
EGI
$45.4K $24.68/SF
− OpEx
−$13.6K −$7.41/SF
NOI
$31.8K $17.28/SF
Area
ZIP 07106
Vacancy
6.50%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$635,860
Cap Rate 7%
$454,186
Cap Rate 9%
$353,256
Alternative Uses
Best Use
Multifamily LT 5
$454.2K
$397.4K – $529.9K
NOI $31,793 @ 7.0% cap · market cap 4.39%
Second Best
Apartment 5plus
$397.1K
$347.4K – $463.2K
NOI $27,794 @ 7.0% cap · market cap 3.83%
Theoretical Best
Office A
$719.8K
$629.8K – $839.8K
NOI $50,387 @ 7.0% cap · market cap 6.95%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,431
Businesses Nearby
Explore this area
Business Placement
Demographics for 07106, NJ
34,596
Population
13,633
Households
2.5
Avg Household Size
35
Median Age
18%
College-Educated
85%
High-School Grad
1.4 sq mi
ZIP Area
24,711
Density / Sq Mi
$48,105
Median Household Income
$34,820
Median Earnings
$1,221
Median Rent
$321,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - A shared backyard and basement storage complement the property's three-unit configuration.
Where is this triplex located?
The property is located at 346 Sanford Ave Newark, NJ.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Three residential units; Built in 1920; Select units feature renovated kitchens and bathrooms
