Three-Story Residential Income
For Sale
$959,877
725 Elizabeth Ave Unit 2, Newark, NJ 07112
Three-story residential income property with a gas water heater and corner positioning on Elizabeth Avenue.
Property Size3,000 SF
Price / SF$319.96
Days on Market96
Property Features for 725 Elizabeth Ave Unit 2
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Weequahic
Building Details
Year Built
1950
Listing Agency:
HOMELAND EMMANUEL OKOYE REALTY
Listed By:
EMMANUEL OKOYE · License #8935772
(201) 233-6756
Source:
Goldstandardrealty
Added: Jul 21
Changed: Oct 8
Last Checked: Oct 7 at 3:34PM
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 HOMELAND EMMANUEL OKOYE REALTY
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This residential income property presents a three-story configuration and was built in 1950. The property includes a gas water heater and is identified at 725 Elizabeth Avenue in Newark City, New Jersey.
The property is positioned at the corner of Elizabeth Avenue and Vasar. Access directions reference Route 78, Lyons Avenue, Elizabeth Avenue, and Bergen Street, providing a defined route to the address.
The property is positioned at the corner of Elizabeth Avenue and Vasar. Access directions reference Route 78, Lyons Avenue, Elizabeth Avenue, and Bergen Street, providing a defined route to the address.
Key Highlights
- Three‑story residential income property
- Built in 1950
- Gas water heater
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,412
Cap Rate
4.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$928,240
$928.2K
Cap Rate 7%
$663,029
$663.0K
Cap Rate 9%
$515,689
$515.7K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$88.9K $29.64/SF
− Vacancy
−$4.5K −$1.51/SF
EGI
$84.4K $28.13/SF
− OpEx
−$38.0K −$12.66/SF
NOI
$46.4K $15.47/SF
Area
Newark, NJ
Vacancy
5.10%
Lease Rate
$29.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$928,240
Cap Rate 7%
$663,029
Cap Rate 9%
$515,689
Alternative Uses
Best Use
Apartment 5plus
$663.0K
$580.2K – $773.5K
NOI $46,412 @ 7.0% cap · market cap 4.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.06M
$930.1K – $1.24M
NOI $74,406 @ 7.0% cap · market cap 7.75%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Location Intelligence
Trade Area within ½ mile
1,301
Businesses Nearby
Explore this area
Business Placement
Demographics for 07112, NJ
29,773
Population
11,779
Households
2.5
Avg Household Size
34
Median Age
18%
College-Educated
86%
High-School Grad
1.4 sq mi
ZIP Area
21,266
Density / Sq Mi
$55,171
Median Household Income
$35,709
Median Earnings
$1,334
Median Rent
$306,100
Median Home Value
Frequently Asked Questions
What type of property is this?
Residential income property - Three-story residential income property with a gas water heater and corner positioning on Elizabeth Avenue.
Where is this residential income property located?
The property is located at 725 Elizabeth Ave Unit 2 Newark, NJ.
What is the asking price?
The asking price for this property is $959,877.
What are key features of this property?
This property features: Three‑story residential income property; Built in 1950; Gas water heater
