Income-Producing Boarding
464-466 SUMMER AVE Unit 0 Newark, NJ 07104
464-466 SUMMER AVE Unit 0, Newark, NJ, 07104
$900,000
For Sale
$900,000
Commercial boarding house with 15 rentable units and month-to-month tenancies, offered as-is for investors.
Property Size3,516 SF
Price / SF$255.97
Days on Market132
Property Features for 464-466 SUMMER AVE Unit 0
General Information
- Standard status
- Active
- Size
- 3,516 SF
- Property subtype
- General Commercial
Building Details
- Year Built
- 1910
Listing agency
KELLER WILLIAMS - NJ METRO GROUP
(862) 213-0008
Listed by
BRENDAN DASILVA · License #299458
(862) 213-0008
Source
Xome
Added: Mar 12 Updated: Jul 10 at 1:56PM Checked: Jul 16 at 5:43AM
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 - NJ METRO GROUP
Investment Insights
Based on property information with market context.
This income-producing boarding house contains 15 rentable units. Tenancies are currently month-to-month, which provides flexibility for an investor looking to adjust operations over time. The property is sold strictly as-is, and the buyer is responsible for all municipal inspections, certifications, and any required repairs. Rent roll and income/expense details are available upon request.
The property is located in the northern section of Newark. It offers convenient access to major transportation routes and public transit, along with proximity to shopping and local amenities. The listing also notes easy access to highways and nearby business districts.
For investors, this multifamily asset may fit buyers seeking a flexible occupancy structure through month-to-month tenancies and an opportunity to manage and reposition the property within the constraints of an as-is sale. Interested parties should review the rent roll and income/expense details upon request and plan for any municipal requirements and repairs needed after closing.
The property is located in the northern section of Newark. It offers convenient access to major transportation routes and public transit, along with proximity to shopping and local amenities. The listing also notes easy access to highways and nearby business districts.
For investors, this multifamily asset may fit buyers seeking a flexible occupancy structure through month-to-month tenancies and an opportunity to manage and reposition the property within the constraints of an as-is sale. Interested parties should review the rent roll and income/expense details upon request and plan for any municipal requirements and repairs needed after closing.
Key Highlights
- Income‑producing commercial boarding house with 15 rentable units
- All tenancies are month‑to‑month
- 20 parking spaces
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 | $105.5k | $30.00 |
| − Vacancy | −$5.4k | −$1.53 |
| EGI | $100.1k | $28.47 |
| − OpEx | −$45.0k | −$12.81 |
| NOI | $55.1k | $15.66 |
3,516 SF · lease $30.00/SF/yr · vacancy 5.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$786.5K
$688.2K – $917.6K
NOI $55,055 @ 7.0% cap · market cap 6.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.11M
$973.1K – $1.30M
NOI $77,851 @ 7.0% cap · market cap 8.65%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Commercial boarding house with 15 rentable units and month-to-month tenancies, offered as-is for investors.
Where is this apartment building located?
The property is located at 464-466 SUMMER AVE Unit 0 Newark, NJ.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Income‑producing commercial boarding house with 15 rentable units; All tenancies are month‑to‑month; 20 parking spaces
