Three-Unit Residential Income
38 Eckert Avenue Newark, NJ 07112
For Sale
$550,000
Three-family property with two-bedroom and three-bedroom unit layouts, delivered vacant for flexible occupancy.
Property Size960 SF
Price / SF$572.92
Days on Market97
Property Features for 38 Eckert Avenue
General Information
- Standard status
- Active
- Size
- 960 SF
- Property subtype
- Multi Family / 3-Three Story
Building Details
- Year Built
- 1912
Listing Agency:
KELLER WILLIAMS REALTY
(856) 321-1212
Listed By:
EBENEZER CARPIO · License #410450
(856) 321-1212
Source:
Compass
Added: Apr 19
Changed: Jul 22
Last Checked: Jul 23 at 7:13AM
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
Investment Insights
Based on property information with market context.
This three-family residential income property offers two-bedroom, one-bath living space on the first floor and third floor, with a three-bedroom, one-bath unit on the second floor. The property is currently occupied but will be delivered vacant, providing flexibility to set your own rents or move in while renting the remaining unit(s).
Situated near major highways and public transportation, with access to shopping centers and schools.
Each unit is configured with its own bedroom and bathroom layout, supporting straightforward management as a multi-unit rental property.
Situated near major highways and public transportation, with access to shopping centers and schools.
Each unit is configured with its own bedroom and bathroom layout, supporting straightforward management as a multi-unit rental property.
Key Highlights
- 3‑family property built in 1912 with a mix of unit layouts (2‑bedroom/1‑bath and 3‑bedroom/1‑bath)
- First‑floor unit: 2 bedrooms, 1 bath
- Second‑floor unit: 3 bedrooms, 1 bath
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 | $24.4k | $25.44 |
| − Vacancy | −$1.2k | −$1.23 |
| EGI | $23.2k | $24.21 |
| − OpEx | −$7.0k | −$7.26 |
| NOI | $16.3k | $16.95 |
960 SF · lease $25.44/SF/yr · vacancy 4.84% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$232.4K
$203.4K – $271.1K
NOI $16,268 @ 7.0% cap · market cap 2.96%
Second Best
Apartment 5plus
$212.2K
$185.7K – $247.5K
NOI $14,852 @ 7.0% cap · market cap 2.70%
Theoretical Best
Office A
$340.1K
$297.6K – $396.8K
NOI $23,810 @ 7.0% cap · market cap 4.33%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
FAQs
What type of property is this?
Triplex - Three-family property with two-bedroom and three-bedroom unit layouts, delivered vacant for flexible occupancy.
Where is this triplex located?
The property is located at 38 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 built in 1912 with a mix of unit layouts (2‑bedroom/1‑bath and 3‑bedroom/1‑bath); First‑floor unit: 2 bedrooms, 1 bath; Second‑floor unit: 3 bedrooms, 1 bath
