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Newark Three-Family Income Property

38-40 ECKERT Avenue, Newark, NJ 07112

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For Sale

Under Contract

$550,000

MULTI_FAMILY - NEWARK, NJ

Property size:

2,770 SF

Lot size:

0.08 Acres

Price / SF:

$198/SF

HighLights

3‑family property with 2BD/1BA on the first floor, 3BD/1BA on the second floor, and 2BD/1BA on the third floor
Delivered vacant: property is currently occupied but will be delivered vacant
Year built 1912 with vinyl siding construction materials
Electric heating with baseboard heat; window unit cooling
Parking available via a driveway
Includes a basement

We can help!

Listing Contact

Ebenezer Carpio

For Sale

Under Contract

$550,000

MULTI_FAMILY - NEWARK, NJ

Property size:

2,770 SF

Lot size:

0.08 Acres

Price / SF:

$198/SF

Added:: May 5, 2026
Days on Market:: 50
Last Refresh:: Jun 23 at 10:06 pm

Property Features for 38-40 ECKERT Avenue

General Information

Property type: Residential Multi Family
Property subtype: Other
Rooms: Basement
Parking: 3
Parking features: Driveway
Standard status: Active Under Contract
Size: 2,770 SF
Lot size: 0.08 Acres

Taxes and HOA fees

Tax Annual Amount: 8700

Utilities

Heating system: Electric (Heating), Baseboard
Cooling system: Window Unit(s)

Building Details

Year built: 1912
Number of units: 3
Building materials: Vinyl Siding

We can help!

Listing Contact

Ebenezer Carpio

Listing agent Ebenezer Carpio License #1971607

Listing office Keller Williams Realty - Moorestown 513 S Lenola Road, Moorestown, NJ

Listing date May 5, 2026

MLS# NJES2000330 Listing URL

HighLights

3‑family property with 2BD/1BA on the first floor, 3BD/1BA on the second floor, and 2BD/1BA on the third floor
Delivered vacant: property is currently occupied but will be delivered vacant
Year built 1912 with vinyl siding construction materials
Electric heating with baseboard heat; window unit cooling
Parking available via a driveway
Includes a basement

Overview

Located at 38-40 Eckert Ave in Newark, NJ, this three-family property presents an opportunity for investors or owner-occupants seeking rental income. The building contains a total of 2770 square feet and is situated on a lot of 0.08 acres. The first floor features a unit with 2 bedrooms and 1 bathroom. The second floor includes a unit with 3 bedrooms and 1 bathroom. The third floor offers a unit with 2 bedrooms and 1 bathroom. The property will be delivered vacant, providing flexibility in setting rents or occupying one unit while renting out the others. The location provides convenient access to major highways, public transportation, shopping centers, and schools.

Local Financial Insights For Multifamily LT 5

Simulate Cap Rate and NOI

NOI Build-Up

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 (±1% cap)

NOI $46,941 @ 7.0% cap · market cap 8.53%

Second Best

Apartment 5plus

$612.2K

$535.7K – $714.2K (±1% cap)

NOI $42,854 @ 7.0% cap · market cap 7.79%

Theoretical Best

Office A

$981.5K

$858.8K – $1.15M (±1% cap)

NOI $68,702 @ 7.0% cap · market cap 12.49%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Triplexes

Suggested Use

Location Insight

Map
Local Demand

City: Newark
County: Essex
State: New Jersey
Longitude: -74.20785
Latitude: 40.71368

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For sale
Triplexes
NJ
Newark
07112
38-40 ECKERT Avenue

What type of property is this?

Triplex - Three-family property in Newark, ideal for investors or owner-occupants.

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: 3‑family property with 2BD/1BA on the first floor, 3BD/1BA on the second floor, and 2BD/1BA on the third floor; Delivered vacant: property is currently occupied but will be delivered vacant; Year built 1912 with vinyl siding construction materials

38-40 ECKERT Avenue, Newark, NJ 07112

MULTI_FAMILY - NEWARK, NJ

Property Features for 38-40 ECKERT Avenue

General Information

Taxes and HOA fees

Utilities

Building Details

We can help!

HighLights

Overview

Local Financial Insights For Multifamily LT 5

Simulate Cap Rate and NOI

Alternative Uses

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Storefront and Office Building

Warehouse and Office Flex Facility

Turnkey Restaurant and Lounge

Turnkey Laundromat with Real Estate

Newark City Income Property

Updated Two-Unit Duplex with Garage

Legal 3-Family Triplex with Garage

Recently Renovated 3-Family Home

Downtown Newark Mixed-Use Redevelopment Opportunity

Newark Commercial Property with Storefronts

Newark Mixed-Use Commercial Opportunity

Turnkey Laundromat with Real Estate

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