Multifamily Building with Modern
78-102 Washington Ave # 503, Belleville, NJ 07109
For Sale
New
Contact for pricing
One-bedroom apartments include in-unit laundry, central air, and community fitness and lounge facilities.
Property Size739 SF
Price / SF$2.97
Days on Market2
Property Features for 78-102 Washington Ave # 503
General Information
Standard status
Size
Elevators
Property subtype
Site & Location
Highway Access
Public Transit
Additional Details
Currently Operating
Amenities
fitness center
resident lounge
secure controlled access
package management
outdoor gathering spaces
in-unit washer and dryer
central air
Tile,Wood
1 Bedroom,Bath Main
Center Island,Full Bath,Liv/Dining Combo,Walk-In Closet
1
In Unit
Inside Entrance,Storage Room
Elevator,Intercom,WlkInCls
City/Town Street
Public Water
00
0.00
Barbeque,Patio,Sidewalk
Building Details
Year Built
Listing Agency:
(551) 239-8040
Listed By:
Reisha Baker
Source:
Skyrealtyintl
Added: Nov 8
Changed: Nov 9
Last Checked: Nov 9 at 2:00AM
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 Reisha Baker
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Investment Insights
Based on property information with market context.
The Essex is a 2025 multifamily property in Belleville with one-bedroom and one-bedroom-plus-den apartments ranging from approximately 739 to 870 square feet. Residences feature open layouts, kitchens with stainless steel appliances and quartz countertops, central air, in-unit washer and dryer, oversized windows, and walk-in closets. Select apartments include den space, and layouts, finishes, and views vary by residence.
Community amenities include a fitness center, resident lounge, controlled access, package management, elevator service, outdoor gathering areas, and available on-site parking. The property is located near NJ Transit, major highways, shopping, dining, and recreation, with stated commuting access to Newark, Jersey City, and New York City.
Community amenities include a fitness center, resident lounge, controlled access, package management, elevator service, outdoor gathering areas, and available on-site parking. The property is located near NJ Transit, major highways, shopping, dining, and recreation, with stated commuting access to Newark, Jersey City, and New York City.
Key Highlights
- Built in 2025
- One‑bedroom and one‑bedroom‑plus‑den plans span approximately 739 to 870 square feet
- Apartments feature stainless steel appliances, quartz countertops, central air, and in‑unit laundry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,364
Suggested Prices Based on Cap Rates
Cap Rate 5%
$227,280
$227.3K
Cap Rate 7%
$162,343
$162.3K
Cap Rate 9%
$126,267
$126.3K
Market Conditions
NOI Build-Up for 739 SF
Gross rent
$22.2K $30.00/SF
− Vacancy
−$1.5K −$2.04/SF
EGI
$20.7K $27.96/SF
− OpEx
−$9.3K −$12.58/SF
NOI
$11.4K $15.38/SF
Area
Essex County, NJ
Vacancy
6.80%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$227,280
Cap Rate 7%
$162,343
Cap Rate 9%
$126,267
Alternative Uses
Best Use
Apartment 5plus
$162.3K
$142.1K – $189.4K
NOI $11,364 @ 7.0% cap · market cap 517.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$193.0K
$168.9K – $225.1K
NOI $13,508 @ 7.0% cap · market cap 615.40%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,298
Businesses Nearby
Explore this area
Business Placement
Demographics for 07109, NJ
38,078
Population
15,045
Households
2.5
Avg Household Size
39
Median Age
31%
College-Educated
87%
High-School Grad
3.3 sq mi
ZIP Area
11,539
Density / Sq Mi
$90,164
Median Household Income
$47,446
Median Earnings
$1,596
Median Rent
$405,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Multifamily properties in Belleville, NJ
Properties on Market for Multifamily properties in Belleville
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - One-bedroom apartments include in-unit laundry, central air, and community fitness and lounge facilities.
Where is this multifamily property located?
The property is located at 78-102 Washington Ave # 503 Belleville, NJ.
What are key features of this property?
This property features: Built in 2025; One‑bedroom and one‑bedroom‑plus‑den plans span approximately 739 to 870 square feet; Apartments feature stainless steel appliances, quartz countertops, central air, and in‑unit laundry
