Three-Story 6-Unit Multifamily
41 Lentz Ave Newark, NJ 07105
For Sale
$1,200,000
Three-story 6-unit building with all units configured as two-bedroom residences in fair condition.
Property Size3,600 SF
Price / SF$333.33
Days on Market22
Property Features for 41 Lentz Ave
General Information
- Standard status
- Active
- Size
- 3,600 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1920
Listing Agency:
EXIT REALTY LUCKY ASSOCIATES
(973) 817-7700
Listed By:
CANDIDO COUTO
Source:
Corcoran
Added: Jul 4
Changed: Jul 23
Last Checked: Jul 25 at 6:09AM
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
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 For Apartment 5plus
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 | $105.8k | $29.40 |
| − Vacancy | −$5.4k | −$1.50 |
| EGI | $100.4k | $27.90 |
| − OpEx | −$45.2k | −$12.56 |
| NOI | $55.2k | $15.35 |
3,600 SF · lease $29.40/SF/yr · vacancy 5.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$789.2K
$690.5K – $920.7K
NOI $55,243 @ 7.0% cap · market cap 4.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.29M
$1.13M – $1.50M
NOI $90,132 @ 7.0% cap · market cap 7.51%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
True Shine Cleaning ...
Hardware & Home Improvement
FAQs
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 $1,200,000.
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
