Triplex with Two-Car
For Sale
Contact for pricing
59-61 Beverly St, Newark, NJ 07108
The property combines varied unit layouts with a fenced yard and partially finished basement.
Property Size3,310 SF
Price / SF$196.37
Days on Market148
Property Features for 59-61 Beverly St
General Information
Standard status
Active
Size
3,310 SF
Class
B
Total Parking Spaces
5
Property subtype
Multifamily
Investment Type
Owner/User
Property Condition
Severity
Repairs Needed
Evidence
clear upside for renovation and modernization
Units
Unit Mix
2 x 3BR/1BA, 1 x 1BR/1BA
Multifamily Units
3
Additional Details
Highway Access
Yes
Amenities
fenced-in yard
walk-out basement
partially finished basement
essential appliances
Building Details
Year Built
1920
Buildings
1
Stories
3
Units
3
Listing Agency:
Lara Realty Corp
(973) 622-1672
Listed By:
Tajudeen Ajadi · License #0122825
Source:
Crexi
Added: Apr 6
Changed: Aug 30
Last Checked: Aug 30 at 11:03AM
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 Lara Realty Corp
Investment Insights
Based on property information with market context.
This three-family Newark property contains 3,310 square feet and was built in 1920. The first- and second-floor residences each offer three bedrooms, an eat-in kitchen, a living room, and a full bathroom. The top-floor unit provides one bedroom, a kitchen, and a full bath. Appliances are included in all three units.
A two-car garage, fenced yard, and full walk-out basement add functional exterior and lower-level space. The basement is partially finished. The property is near transportation, highways, shopping, and the airport. Possible subdivision of the lot is also noted in the property information.
A two-car garage, fenced yard, and full walk-out basement add functional exterior and lower-level space. The basement is partially finished. The property is near transportation, highways, shopping, and the airport. Possible subdivision of the lot is also noted in the property information.
Key Highlights
- Three‑family property with 3,310 square feet, built in 1920
- First- and second‑floor units each have three bedrooms and one full bathroom
- Third‑floor unit includes one bedroom, a kitchen, and a full bath
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
$56,092
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
8.63%
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%
$1,121,840
$1.1M
Cap Rate 7%
$801,314
$801.3K
Cap Rate 9%
$623,244
$623.2K
Market Conditions
NOI Build-Up for 3,310 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
$84.2K $25.44/SF
− Vacancy
−$4.1K −$1.23/SF
EGI
$80.1K $24.21/SF
− OpEx
−$24.0K −$7.26/SF
NOI
$56.1K $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%
$1,121,840
Cap Rate 7%
$801,314
Cap Rate 9%
$623,244
Alternative Uses
Best Use
Multifamily LT 5
$801.3K
$701.2K – $934.9K
NOI $56,092 @ 7.0% cap · market cap 8.63%
Second Best
Apartment 5plus
$731.5K
$640.1K – $853.5K
NOI $51,208 @ 7.0% cap · market cap 7.88%
Theoretical Best
Office A
$1.17M
$1.03M – $1.37M
NOI $82,095 @ 7.0% cap · market cap 12.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,621
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
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Frequently Asked Questions
What type of property is this?
Triplex - The property combines varied unit layouts with a fenced yard and partially finished basement.
Where is this triplex located?
The property is located at 59-61 Beverly St Newark, NJ.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Three‑family property with 3,310 square feet, built in 1920; First- and second‑floor units each have three bedrooms and one full bathroom; Third‑floor unit includes one bedroom, a kitchen, and a full bath
