Value-Add Multifamily Property in
420 S 18Th St, Newark, NJ 07103
Fixer-upper with value-add potential, ideal for investors or owner-occupants.
Type:Multi Family
Property size:
3,348 SFPrice / SF:
$289/SF- Added:
- Apr 10, 2026
- Days on Market:
- 54
- Last Refresh:
- Apr 10 at 8:42 am
Property Features for 420 S 18Th St
General Information
- Standard status
- Active
- Size
- 3,348 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1905
Listing agent LUIS CRUZ
Listing office
Listing date Apr 10, 2026
Source Elliman
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 LUIS CRUZ
HighLights
- Strong value‑add potential in Essex County fixer‑upper.
- Potential for 3‑family conversion (existing plans available, buyer to verify).
- Approximately 3,348 sq ft of living space with 9 bedrooms and 3 bathrooms.
- Ground floor commercial space offers flexible conversion options (residential or garage).
- Strong rental income potential.
- Low down payment options potentially available for qualified buyers.
Overview
This multi-family property in Essex County offers approximately 3,348 sq ft of living space. Constructed in 1905, the building features 9 bedrooms, 3 bathrooms, and a full basement. Existing plans are available for a potential 3-family conversion, although buyers need to verify all approvals and zoning. The ground floor includes a commercial space that offers flexibility for possible residential conversion or use as a garage. The property is suitable for owner-occupants looking to live in one unit and rent out the others, with potential low down payment options available for qualified buyers. It also presents strong rental income potential. The property is being sold as-is and requires renovation. Notable conditions include missing tiles in the first-floor bathroom. The third floor shows a hole in the exterior trim, a hole in the wall, discoloration under the living room window, a missing bedroom wall, and prior ceiling discoloration in the living room. The location has a bike score of 50, indicating it is bikeable, a walk score of 69, indicating it is somewhat walkable, and a transit score of 61, indicating good transit options. It is ideal for investors or end-users looking to customize and maximize value.
Local 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 | $116.5k | $34.80 |
| − Vacancy | −$5.9k | −$1.77 |
| EGI | $110.6k | $33.03 |
| − OpEx | −$49.8k | −$14.86 |
| NOI | $60.8k | $18.16 |
3,348 SF · lease $34.80/SF/yr · vacancy 5.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$868.8K
$760.2K – $1.01M
NOI $60,813 @ 7.0% cap · market cap 6.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $83,823 @ 7.0% cap · market cap 8.64%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Newark
- County
- Essex
- State
- New Jersey
- Longitude
- -74.2076233
- Latitude
- 40.742168
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Fixer-upper with value-add potential, ideal for investors or owner-occupants.
Where is this apartment building located?
The property is located at 420 S 18Th St Newark, NJ.
What is the asking price?
The asking price for this property is $970,000.
What are key features of this property?
This property features: Strong value‑add potential in Essex County fixer‑upper.; Potential for 3‑family conversion (existing plans available, buyer to verify).; Approximately 3,348 sq ft of living space with 9 bedrooms and 3 bathrooms.
