Three-Unit
For Sale
$699,500
86 Highland Ave, Newark, NJ 07104
Each apartment is configured with one bedroom and one bathroom.
Property Size2,400 SF
Price / SF$291.46
Days on Market11
Property Features for 86 Highland Ave
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Residential Income
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
3 x 1BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$5,202
Amenities
Natural Gas
Unfinished
See Remarks
Building Details
Year Built
1900
Listing Agency:
Coldwell Banker Realty
Listed By:
MAIKOL PUEBLA · License #297129
(201) 710-0598
Source:
Evrealestate
Added: Oct 13
Changed: Oct 22
Last Checked: Oct 20 at 5:25PM
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 Coldwell Banker Realty
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Investment Insights
Based on property information with market context.
This Newark triplex contains three apartments, each with one bedroom and one bathroom. The building dates to 1900.
The property is in Newark’s Seventh Avenue neighborhood, near shopping, restaurants, parks, and schools, including Franklin Elementary School, Technology High School, and Barringer High School. NJ Transit bus service and Newark Light Rail connections serve the area, with transportation to New York City available via Newark Penn Station. Major highways and downtown Newark are also accessible.
The property is in Newark’s Seventh Avenue neighborhood, near shopping, restaurants, parks, and schools, including Franklin Elementary School, Technology High School, and Barringer High School. NJ Transit bus service and Newark Light Rail connections serve the area, with transportation to New York City available via Newark Penn Station. Major highways and downtown Newark are also accessible.
Key Highlights
- Three apartments, each with one bedroom and one bathroom
- Built in 1900
- Near NJ Transit bus service and Newark Light Rail connections
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,862
Cap Rate
5.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$817,240
$817.2K
Cap Rate 7%
$583,743
$583.7K
Cap Rate 9%
$454,022
$454.0K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$61.3K $25.56/SF
− Vacancy
−$3.0K −$1.24/SF
EGI
$58.4K $24.32/SF
− OpEx
−$17.5K −$7.30/SF
NOI
$40.9K $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%
$817,240
Cap Rate 7%
$583,743
Cap Rate 9%
$454,022
Alternative Uses
Best Use
Multifamily LT 5
$583.7K
$510.8K – $681.0K
NOI $40,862 @ 7.0% cap · market cap 5.84%
Second Best
Apartment 5plus
$536.9K
$469.8K – $626.3K
NOI $37,580 @ 7.0% cap · market cap 5.37%
Theoretical Best
Office A
$759.2K
$664.3K – $885.7K
NOI $53,141 @ 7.0% cap · market cap 7.60%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,780
Businesses Nearby
Explore this area
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
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Each apartment is configured with one bedroom and one bathroom.
Where is this triplex located?
The property is located at 86 Highland Ave Newark, NJ.
What is the asking price?
The asking price for this property is $699,500.
What are key features of this property?
This property features: Three apartments, each with one bedroom and one bathroom; Built in 1900; Near NJ Transit bus service and Newark Light Rail connections
