Turnkey 2-Unit Investment
65 Stone Street Newark, NJ 07104
65 Stone Street, Newark, NJ, 07104
$499,000
For Sale
$499,000
Fully occupied multi-family generating immediate income in Newark, NJ.
Property Size1,000 SF
Price / SF$499
Days on Market167
Property Features for 65 Stone Street
General Information
- Standard status
- Active
- Size
- 1,000 SF
- Property subtype
- Multi Family / 2-Two Story
Building Details
- Year Built
- 2021
Listing Agency
KELLER WILLIAMS CITY VIEWS REALTY
(201) 592-8900
Listed by
FARHAN YOUSUFI · License #281797
(201) 592-8900
Source
Compass
Added: Jan 31 Checked: Jul 17 at 3:40 am
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 CITY VIEWS REALTY
Investment Insights
Based on property information with market context.
This is a turnkey, fully occupied 2-unit multi-family property in Newark, NJ, generating immediate income. It is suitable as an investment property or for an owner-occupier looking to offset housing costs with rental income. The unit mix includes a 3-bedroom, 1-bath unit on the first floor and a 4-bedroom, 1-bath unit on the second floor. Both units are occupied by long-term tenants. The property benefits from a diversified income stream due to a mix of housing-assisted and market tenants, ensuring reliable, on-time rent collection. Tenants are responsible for their own electric and gas, while the owner is responsible for water and sewer only. Recent capital improvements include a new roof, new separate HVAC system, and a new sewer line. This is a professionally managed asset with a proven rental history. The property is being sold as-is, fully occupied. Rent roll and financials are available to qualified buyers upon request.
Key Highlights
- Turnkey, fully occupied 2‑unit property generating immediate cash flow.
- Diversified income stream from a mix of housing‑assisted and market‑rate tenants with reliable rent collection.
- Recent capital improvements include a new roof, separate HVAC systems, and a new sewer line.
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 | $25.6k | $25.56 |
| − Vacancy | −$1.2k | −$1.24 |
| EGI | $24.3k | $24.32 |
| − OpEx | −$7.3k | −$7.30 |
| NOI | $17.0k | $17.03 |
1,000 SF · lease $25.56/SF/yr · vacancy 4.84% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$243.2K
$212.8K – $283.8K
NOI $17,026 @ 7.0% cap · market cap 3.41%
Second Best
Apartment 5plus
$223.7K
$195.7K – $261.0K
NOI $15,659 @ 7.0% cap · market cap 3.14%
Theoretical Best
Office A
$316.3K
$276.8K – $369.0K
NOI $22,142 @ 7.0% cap · market cap 4.44%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Fully occupied multi-family generating immediate income in Newark, NJ.
Where is this duplex located?
The property is located at 65 Stone Street Newark, NJ.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Turnkey, fully occupied 2‑unit property generating immediate cash flow.; Diversified income stream from a mix of housing‑assisted and market‑rate tenants with reliable rent collection.; Recent capital improvements include a new roof, separate HVAC systems, and a new sewer line.
