4-Unit Brick Multifamily
93 Davenport Ave, Newark, NJ 07107
For Sale
$999,000
Pending
Four occupied residences have separate utility meters and access to garage and surface parking.
Property Size4,550 SF
Days on Market20
Property Features for 93 Davenport Ave
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Occupancy
Net Operating Income
Site & Location
Neighborhood
Public Transit
Units
Unit Mix
Multifamily Units
Individually Metered Utilities
Additional Details
Cap Rate
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
Full,Unfinished
Gas-Natural
5
1
2
12
CarbMDet,CookGas,RgOvGas,Refrig,SmokeDet
3
Carbon Monoxide Detector,Fire Extinguisher,High Ceilings,Smoke Detector,Wood Floors
1.0
2200
2250
2300
Bedrooms,Eat-In Kitchen,Kitchen,Living/Dining Room
No
Corner
Public Water
25X100
0.06
Sidewalk
4550
Brick
Building Details
Building Size
Year Built
Buildings
Construction
Listing Agency:
LIVX
(908) 224-5438
Listed By:
Patricia Coene
Source:
Haven
Added: Oct 21
Changed: Nov 5
Last Checked: Nov 8 at 8:26AM
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 LIVX
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Investment Insights
Based on property information with market context.
This 4,550-square-foot brick multifamily building, constructed in 1957, contains four three-bedroom, one-bathroom residences. All units are occupied and separately metered. The property is offered in as-is condition.
On-site parking includes a detached two-car garage and four surface spaces. Davenport Ave Light Rail is 0.2 miles away, with service toward Newark Penn Station and New York City.
On-site parking includes a detached two-car garage and four surface spaces. Davenport Ave Light Rail is 0.2 miles away, with service toward Newark Penn Station and New York City.
Key Highlights
- Four occupied units, each with 3 bedrooms and 1 bathroom
- 4,550 square feet of brick construction; built in 1957
- Detached 2‑car garage plus 4 surface parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$77,653
Cap Rate
7.77%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,553,060
$1.6M
Cap Rate 7%
$1,109,329
$1.1M
Cap Rate 9%
$862,811
$862.8K
Market Conditions
NOI Build-Up for 4,550 SF
Gross rent
$117.4K $25.80/SF
− Vacancy
−$6.5K −$1.42/SF
EGI
$110.9K $24.38/SF
− OpEx
−$33.3K −$7.31/SF
NOI
$77.7K $17.07/SF
Area
ZIP 07107
Vacancy
5.50%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,553,060
Cap Rate 7%
$1,109,329
Cap Rate 9%
$862,811
Alternative Uses
Best Use
Multifamily LT 5
$1.11M
$970.7K – $1.29M
NOI $77,653 @ 7.0% cap · market cap 7.77%
Second Best
Apartment 5plus
$996.4K
$871.9K – $1.16M
NOI $69,748 @ 7.0% cap · market cap 6.98%
Theoretical Best
Office A
$1.78M
$1.56M – $2.08M
NOI $124,597 @ 7.0% cap · market cap 12.47%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,490
Businesses Nearby
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Business Placement
Demographics for 07107, NJ
41,627
Population
16,084
Households
2.6
Avg Household Size
33
Median Age
13%
College-Educated
77%
High-School Grad
1.6 sq mi
ZIP Area
26,017
Density / Sq Mi
$49,892
Median Household Income
$35,700
Median Earnings
$1,259
Median Rent
$353,300
Median Home Value
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Market
Properties on Market for Quadplexes in Newark
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - Four occupied residences have separate utility meters and access to garage and surface parking.
Where is this quadplex located?
The property is located at 93 Davenport Ave Newark, NJ.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Four occupied units, each with 3 bedrooms and 1 bathroom; 4,550 square feet of brick construction; built in 1957; Detached 2‑car garage plus 4 surface parking spaces
