Three-Family Residential Income
38-40 Eckert Avenue Newark, NJ 07112
38-40 Eckert Avenue, Newark, NJ, 07112
$550,000
Pending
For Sale
$550,000
Pending
Three-family property for sale offering rental income potential near highways, public transportation, shopping, and schools.
Property Size2,770 SF
Days on Market93
Property Features for 38-40 Eckert Avenue
General Information
- Standard status
- Pending
- Size
- 2,770 SF
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 1912
Listing agency
Keller Williams Realty - Moorestown
(856) 772-7221
Listed by
Ebenezer Carpio · License #1971607
(856) 772-7221
Source
Compass
Added: Apr 21 Updated: Jul 21 at 6:05AM Checked: Jul 21 at 6:05AM
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 Realty - Moorestown
Investment Insights
Based on property information with market context.
Coming soon, 38-40 Eckert Avenue presents a three-family residential income property in Essex County. The offering is structured as a 3-family building, appealing to investors seeking rental income and to owner-occupants looking to offset living expenses.
The property is identified in the Newark City (20714) MLS area and is within the Newark Public Schools system. Public remarks also note convenient proximity to major highways, public transportation, shopping, and schools, supporting flexible tenant demand for a multi-unit configuration.
More details and photos are expected as the listing becomes available.
The property is identified in the Newark City (20714) MLS area and is within the Newark Public Schools system. Public remarks also note convenient proximity to major highways, public transportation, shopping, and schools, supporting flexible tenant demand for a multi-unit configuration.
More details and photos are expected as the listing becomes available.
Key Highlights
- Three‑family property for sale at 38–40 Eckert Ave in Newark
- Year built: 1912
- Above‑grade and below‑grade structures included
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 | $70.5k | $25.44 |
| − Vacancy | −$3.4k | −$1.23 |
| EGI | $67.1k | $24.21 |
| − OpEx | −$20.1k | −$7.26 |
| NOI | $46.9k | $16.95 |
2,770 SF · lease $25.44/SF/yr · vacancy 4.84% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$670.6K
$586.8K – $782.4K
NOI $46,941 @ 7.0% cap · market cap 8.53%
Second Best
Apartment 5plus
$612.2K
$535.7K – $714.2K
NOI $42,854 @ 7.0% cap · market cap 7.79%
Theoretical Best
Office A
$981.5K
$858.8K – $1.15M
NOI $68,702 @ 7.0% cap · market cap 12.49%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Three-family property for sale offering rental income potential near highways, public transportation, shopping, and schools.
Where is this triplex located?
The property is located at 38-40 Eckert Avenue Newark, NJ.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Three‑family property for sale at 38–40 Eckert Ave in Newark; Year built: 1912; Above‑grade and below‑grade structures included
