Three-Story Triplex with Finished
623-625 Sandford Ave, Newark, NJ 07106
For Sale
$895,000
The buyer must obtain the Certificate of Occupancy and fire certification after closing.
Property Size3,199 SF
Days on Market50
Property Features for 623-625 Sandford Ave
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Stories
Listing Agency:
Monopoly Marc Realty LLC
Listed By:
ARMANDO PINA · License NJ #397534
(973) 820-6330
Source:
Elliman
Added: Sep 26
Changed: Nov 2
Last Checked: Nov 12 at 8:24AM
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 Monopoly Marc Realty LLC
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Investment Insights
Based on property information with market context.
This Newark triplex contains three individual units distributed across three stories, along with a finished basement. The building dates to 1925.
The property is being sold in its current condition. The buyer is responsible for securing the Certificate of Occupancy and fire certification; the seller will not complete repairs or issue credits.
The property is being sold in its current condition. The buyer is responsible for securing the Certificate of Occupancy and fire certification; the seller will not complete repairs or issue credits.
Key Highlights
- Three separate residential units
- Three stories plus a finished basement
- Built in 1925
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$55,275
Cap Rate
6.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,105,500
$1.1M
Cap Rate 7%
$789,643
$789.6K
Cap Rate 9%
$614,167
$614.2K
Market Conditions
NOI Build-Up for 3,199 SF
Gross rent
$84.5K $26.40/SF
− Vacancy
−$5.5K −$1.72/SF
EGI
$79.0K $24.68/SF
− OpEx
−$23.7K −$7.41/SF
NOI
$55.3K $17.28/SF
Area
ZIP 07106
Vacancy
6.50%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,105,500
Cap Rate 7%
$789,643
Cap Rate 9%
$614,167
Alternative Uses
Best Use
Multifamily LT 5
$789.6K
$690.9K – $921.3K
NOI $55,275 @ 7.0% cap · market cap 6.18%
Second Best
Apartment 5plus
$690.3K
$604.0K – $805.4K
NOI $48,323 @ 7.0% cap · market cap 5.40%
Theoretical Best
Office A
$1.25M
$1.10M – $1.46M
NOI $87,601 @ 7.0% cap · market cap 9.79%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,127
Businesses Nearby
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Business Placement
Demographics for 07106, NJ
34,596
Population
13,633
Households
2.5
Avg Household Size
35
Median Age
18%
College-Educated
85%
High-School Grad
1.4 sq mi
ZIP Area
24,711
Density / Sq Mi
$48,105
Median Household Income
$34,820
Median Earnings
$1,221
Median Rent
$321,400
Median Home Value
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Market
Average Price Trend$/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 - The buyer must obtain the Certificate of Occupancy and fire certification after closing.
Where is this triplex located?
The property is located at 623-625 Sandford Ave Newark, NJ.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: Three separate residential units; Three stories plus a finished basement; Built in 1925
