New Construction Multifamily
For Sale
$899,999
Pending
420 18Th Ave, Newark, NJ 07108
MULTI_FAMILY - Newark City, NJ
Property Size4,085 SF
Lot Size0.07 Acres
Days on Market118
Property Features for 420 18Th Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
9
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 5, Bedroom 7, Bathroom 5, Bedroom 6, Basement, Bedroom 3, Bathroom 4, Bedroom 1, Bathroom 6, Bathroom 1, Bedroom 9, Bathroom 3, Bathroom 2, Bedroom 8, Bedroom 2, Bedroom 4
Directions
From Orange St, Walk south on S 18th St.
Standard status
Pending
Size
4,085 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
1999
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
2024
Floors in Building
3
Number of units
3
Roof type
Shingle
Architectural style
Other
Listing Agency:
REALTY ONE GROUP LEGEND
(973) 772-0660
Listed By:
LUIS CRUZ · License #394135
(973) 686-7777
Added: Apr 16
Changed: Aug 7
Last Checked: Aug 11 at 6:06AM
MLS# 4021314
Copyright © 2026 Garden State MLS, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
New construction multifamily property built in 2024 featuring modern finishes and quality craftsmanship. The layout includes 9 bedrooms and 6 bathrooms, along with a full basement. Heating is provided by forced air and cooling is provided by central air. The roof is shingle.
The property is located at 420 18Th Ave in Newark City, NJ 07108-1633 (Essex County). Services include public water and public sewer.
Buyer is responsible for all inspections, certifications, and approvals.
The property is located at 420 18Th Ave in Newark City, NJ 07108-1633 (Essex County). Services include public water and public sewer.
Buyer is responsible for all inspections, certifications, and approvals.
Key Highlights
- Built in 2024
- 9 bedrooms and 6 bathrooms
- Full basement
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$69,225
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.69%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,384,500
$1.4M
Cap Rate 7%
$988,929
$988.9K
Cap Rate 9%
$769,167
$769.2K
Market Conditions
NOI Build-Up for 4,085 SF
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.
Gross rent
$103.9K $25.44/SF
− Vacancy
−$5.0K −$1.23/SF
EGI
$98.9K $24.21/SF
− OpEx
−$29.7K −$7.26/SF
NOI
$69.2K $16.95/SF
Area
Newark, NJ
Vacancy
4.84%
Lease Rate
$25.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,384,500
Cap Rate 7%
$988,929
Cap Rate 9%
$769,167
Alternative Uses
Best Use
Multifamily LT 5
$988.9K
$865.3K – $1.15M
NOI $69,225 @ 7.0% cap · market cap 7.69%
Second Best
Apartment 5plus
$902.8K
$790.0K – $1.05M
NOI $63,197 @ 7.0% cap · market cap 7.02%
Theoretical Best
Office A
$1.45M
$1.27M – $1.69M
NOI $101,316 @ 7.0% cap · market cap 11.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,332
Businesses Nearby
Explore this area
Business Placement
Demographics for 07108, NJ
28,715
Population
12,862
Households
2.2
Avg Household Size
32
Median Age
17%
College-Educated
85%
High-School Grad
1.4 sq mi
ZIP Area
20,511
Density / Sq Mi
$33,960
Median Household Income
$30,336
Median Earnings
$1,098
Median Rent
$326,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Newly built 2024 multifamily home with central air and forced-air heating on a small Newark City lot.
Where is this triplex located?
The property is located at 420 18Th Ave Newark, NJ.
What is the asking price?
The asking price for this property is $899,999.
What are key features of this property?
This property features: Built in 2024; 9 bedrooms and 6 bathrooms; Full basement
