Three-Story
618 Mount Prospect Ave, Newark, NJ 07104
For Sale
New
$799,000
Multi-Family, 3-Three Story, Newark City, NJ
Property Size3,757 SF
Lot Size0.14 Acres
Price / SF$212.67
Days on Market5
Property Features for 618 Mount Prospect Ave
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Half bathrooms
Rooms
Directions
Standard status
Lot size
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Sewer type
Water source
Building Details
Year built
Floors in Building
Number of units
Roof type
Architectural style
Listing Agency:
KELLER WILLIAMS REAL ESTATE · Keller Williams Realty
(908) 751-7750
Listed By:
KIRA IBARRA-BRUMBAUGH
(855) 592-5468
Added: Nov 5
Changed: Nov 6
Last Checked: Nov 9 at 1:06PM
MLS# 4063140
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.
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Investment Insights
Based on property information with market context.
This three-story triplex contains three residential units and approximately 3,757 square feet of living space. Built in 1897, the property sits on a 0.14-acre lot and has a shingle roof, public water, and public sewer service.
The property is in Newark, near universities, parks, and stores, with Newark Airport approximately 25 minutes away.
The property is in Newark, near universities, parks, and stores, with Newark Airport approximately 25 minutes away.
Key Highlights
- Three residential units
- Approximately 3,757 square feet of living space
- 0.14‑acre lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$63,967
Cap Rate
8.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,279,340
$1.3M
Cap Rate 7%
$913,814
$913.8K
Cap Rate 9%
$710,744
$710.7K
Market Conditions
NOI Build-Up for 3,757 SF
Gross rent
$96.0K $25.56/SF
− Vacancy
−$4.6K −$1.24/SF
EGI
$91.4K $24.32/SF
− OpEx
−$27.4K −$7.30/SF
NOI
$64.0K $17.03/SF
Area
ZIP 07104
Vacancy
4.84%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,279,340
Cap Rate 7%
$913,814
Cap Rate 9%
$710,744
Alternative Uses
Best Use
Multifamily LT 5
$913.8K
$799.6K – $1.07M
NOI $63,967 @ 7.0% cap · market cap 8.01%
Second Best
Apartment 5plus
$840.4K
$735.4K – $980.5K
NOI $58,829 @ 7.0% cap · market cap 7.36%
Theoretical Best
Office A
$1.19M
$1.04M – $1.39M
NOI $83,187 @ 7.0% cap · market cap 10.41%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,275
Businesses Nearby
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Business Placement
Demographics for 07104, NJ
54,051
Population
21,762
Households
2.5
Avg Household Size
35
Median Age
21%
College-Educated
71%
High-School Grad
2.5 sq mi
ZIP Area
21,620
Density / Sq Mi
$51,199
Median Household Income
$36,139
Median Earnings
$1,343
Median Rent
$337,400
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in Newark, NJ
Properties on Market for Triplexes in Newark
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three residential units provide a multi-unit configuration with public water and sewer service.
Where is this triplex located?
The property is located at 618 Mount Prospect Ave Newark, NJ.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Three residential units; Approximately 3,757 square feet of living space; 0.14‑acre lot
