Three-Story 6-Unit Multifamily
For Sale
$1,100,000
41 Lentz Ave, Newark, NJ 07105
Three-story 6-unit building with all units configured as two-bedroom residences in fair condition.
Property Size3,600 SF
Price / SF$305.56
Days on Market107
Property Features for 41 Lentz Ave
General Information
Standard status
Active
Size
3,600 SF
Site & Location
Neighborhood
Ironbound
Highway Access
Yes
Additional Details
Multifamily Units
6
Building Details
Year Built
1920
Stories
3
Tenancy
Multi
Listing Agency:
EXIT REALTY LUCKY ASSOCIATES
Listed By:
CANDIDO COUTO
(973) 277-2137
Source:
Goldstandardrealty
Added: Jul 9
Changed: Oct 14
Last Checked: Oct 7 at 3:30PM
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 REALTY LUCKY ASSOCIATES
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Investment Insights
Based on property information with market context.
This three-story multifamily building contains six units, and each unit is configured as a two-bedroom layout. The property is reported in fair condition and presents an investment opportunity for buyers seeking a residential income building with multiple in-place units.
The building is located in Newark’s Ironbound area, with convenience to major highways, public transportation, schools, and local amenities. The remarks also note ongoing redevelopment activity in the market.
As offered, the property is positioned as a turnkey-style investment with long-term tenant support referenced in the seller’s comments. All details provided above are based on the information in the listing remarks.
The building is located in Newark’s Ironbound area, with convenience to major highways, public transportation, schools, and local amenities. The remarks also note ongoing redevelopment activity in the market.
As offered, the property is positioned as a turnkey-style investment with long-term tenant support referenced in the seller’s comments. All details provided above are based on the information in the listing remarks.
Key Highlights
- Three‑story 6‑unit residential building built in 1920
- All 6 units are configured as 2‑bedroom residences
- Property is described as being in fair condition
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$55,243
Cap Rate
5.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,104,860
$1.1M
Cap Rate 7%
$789,186
$789.2K
Cap Rate 9%
$613,811
$613.8K
Market Conditions
NOI Build-Up for 3,600 SF
Gross rent
$105.8K $29.40/SF
− Vacancy
−$5.4K −$1.50/SF
EGI
$100.4K $27.90/SF
− OpEx
−$45.2K −$12.56/SF
NOI
$55.2K $15.35/SF
Area
ZIP 07105
Vacancy
5.10%
Lease Rate
$29.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,104,860
Cap Rate 7%
$789,186
Cap Rate 9%
$613,811
Alternative Uses
Best Use
Apartment 5plus
$789.2K
$690.5K – $920.7K
NOI $55,243 @ 7.0% cap · market cap 5.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.29M
$1.13M – $1.50M
NOI $90,132 @ 7.0% cap · market cap 8.19%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
6
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,079
Businesses Nearby
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Business Placement
Demographics for 07105, NJ
50,870
Population
20,608
Households
2.5
Avg Household Size
35
Median Age
15%
College-Educated
70%
High-School Grad
4.6 sq mi
ZIP Area
11,059
Density / Sq Mi
$55,752
Median Household Income
$33,175
Median Earnings
$1,600
Median Rent
$445,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Three-story 6-unit building with all units configured as two-bedroom residences in fair condition.
Where is this apartment building located?
The property is located at 41 Lentz Ave Newark, NJ.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Three‑story 6‑unit residential building built in 1920; All 6 units are configured as 2‑bedroom residences; Property is described as being in fair condition
