Three-Bedroom Multifamily
9 Vernon Ave # 2, Newark, NJ 07108
For Sale
New
Contact for pricing
The second-floor residence combines several living areas with an eat-in kitchen and an office.
Property Size1,526 SF
Price / SF$1.64
Days on Market2
Property Features for 9 Vernon Ave # 2
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Public Transit
Additional Details
Multifamily Units
Amenities
Finished-Partially
Parquet-Some,Tile,Wood
Second
3
18x11
14x17
18x15
16x9
15x7
15x9
17x17
10x9
Office
Public Water
15000 SF
0.34
Building Details
Year Built
Listing Agency:
COLDWELL BANKER REALTY
(551) 239-8040
Listed By:
Andrea Lew
Source:
Skyrealtyintl
Added: Nov 12
Changed: Nov 13
Last Checked: Nov 13 at 5:26PM
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
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 second-floor apartment in a multifamily property offers 1,526 square feet, three bedrooms, and one full bathroom. Several living areas provide a flexible interior arrangement, with an office also identified among the interior features. Parquet, tile, and wood flooring are present, and the kitchen includes stainless steel appliances, cabinetry, and space for dining. The bathroom has a tub-shower and a separate shower stall.
The property was built in 1917 and has public water service.
The property was built in 1917 and has public water service.
Key Highlights
- 1,526‑square‑foot second‑floor apartment
- Three bedrooms and one full bathroom
- Multiple living areas and a separate office
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,608
Suggested Prices Based on Cap Rates
Cap Rate 5%
$472,160
$472.2K
Cap Rate 7%
$337,257
$337.3K
Cap Rate 9%
$262,311
$262.3K
Market Conditions
NOI Build-Up for 1,526 SF
Gross rent
$45.2K $29.64/SF
− Vacancy
−$2.3K −$1.51/SF
EGI
$42.9K $28.13/SF
− OpEx
−$19.3K −$12.66/SF
NOI
$23.6K $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%
$472,160
Cap Rate 7%
$337,257
Cap Rate 9%
$262,311
Alternative Uses
Best Use
Apartment 5plus
$337.3K
$295.1K – $393.5K
NOI $23,608 @ 7.0% cap
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$540.7K
$473.1K – $630.8K
NOI $37,848 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,233
Businesses Nearby
Explore this area
Business Placement
Demographics for 07108, NJ
28,715
Population
12,862
Households
2.2
Avg Household Size
32
Median Age
17%
College-Educated
85%
High-School Grad
1.4 sq mi
ZIP Area
20,511
Density / Sq Mi
$33,960
Median Household Income
$30,336
Median Earnings
$1,098
Median Rent
$326,900
Median Home Value
Market
Average Price Trend$/SF for Multifamily properties in Newark, NJ
Properties on Market for Multifamily properties in Newark
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - The second-floor residence combines several living areas with an eat-in kitchen and an office.
Where is this multifamily property located?
The property is located at 9 Vernon Ave # 2 Newark, NJ.
What are key features of this property?
This property features: 1,526‑square‑foot second‑floor apartment; Three bedrooms and one full bathroom; Multiple living areas and a separate office
