Sprawling Newark Two-Family
56 Lentz Ave, Newark, NJ 07105
Well-maintained 6-bedroom duplex with over 4000 sq ft.
Type:Multi Family
Property size:
4,000 SFLot size:
0.06 AcresPrice / SF:
$199/SF- Added:
- Mar 23, 2026
- Days on Market:
- 69
- Last Refresh:
- Mar 20 at 12:45 pm
Property Features for 56 Lentz Ave
General Information
- Standard status
- Active
- Size
- 4,000 SF
- Lot size
- 0.06 Acres
- Property subtype
- Multi Family
Building Details
- Year Built
- 2002
Listing agent ROBERT DEKANSKI License #232901
Listing office RE/MAX 1st ADVANTAGE (732) 827-5344
Listing date Mar 23, 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 RE/MAX 1st ADVANTAGE
HighLights
- Excellent investment opportunity: Sprawling, well‑maintained 2‑family home in thriving Newark.
- Boasting over 4000 sq ft of finished living space with 6 bedrooms and 5 full baths.
- Each unit features 3 generous bedrooms, including a primary suite with a private ensuite bath.
- Finished lower level with laundry, full bath, and bonus area provides additional living space.
- 1‑car garage and double‑wide driveway with fenced‑in yard.
- Prime commuter location: Steps to bus line, easy access to major roads, close to amenities.
Overview
This well-maintained two-family home in Newark presents an excellent investment opportunity. Situated on a corner lot, the property offers over 4000 sq ft of finished living space. Each unit features 3 bedrooms with hardwood floors, including a primary suite with a private ensuite bath. The eat-in kitchens are equipped with ceramic tile floors and backsplashes, along with ample cabinetry and dinette space. The main full baths include ceramic tile floors and tiled tub showers. Unit 1 features a spacious living room with recessed lights, crown molding, and French doors leading to a large deck. Unit 2 offers a spacious living/dining combo with hardwood floors and recessed lights. The finished lower level provides laundry space with hook-ups, a full bath, and a bonus area with versatile space. Additional features include a one-car garage, a double-wide driveway for ample parking, and a fenced-in yard for privacy. The property has semi-private entrances and separate utilities. Its location offers convenient access to transportation, with steps to the bus line and easy access to major roads, parks, shopping, and dining.
Local Financial Insights For Multifamily LT 5
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 | $100.8k | $25.20 |
| − Vacancy | −$4.9k | −$1.22 |
| EGI | $95.9k | $23.98 |
| − OpEx | −$28.8k | −$7.19 |
| NOI | $67.1k | $16.79 |
4,000 SF · lease $25.20/SF/yr · vacancy 4.84% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$959.2K
$839.3K – $1.12M
NOI $67,145 @ 7.0% cap · market cap 8.39%
Second Best
Apartment 5plus
$876.9K
$767.3K – $1.02M
NOI $61,381 @ 7.0% cap · market cap 7.67%
Theoretical Best
Office A
$1.43M
$1.25M – $1.67M
NOI $100,147 @ 7.0% cap · market cap 12.52%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Newark
- County
- Essex
- State
- New Jersey
- Longitude
- -74.1377062
- Latitude
- 40.7304611
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Well-maintained 6-bedroom duplex with over 4000 sq ft.
Where is this duplex located?
The property is located at 56 Lentz Ave Newark, NJ.
What is the asking price?
The asking price for this property is $799,999.
What are key features of this property?
This property features: Excellent investment opportunity: Sprawling, well‑maintained 2‑family home in thriving Newark.; Boasting over 4000 sq ft of finished living space with 6 bedrooms and 5 full baths.; Each unit features 3 generous bedrooms, including a primary suite with a private ensuite bath.
