186 12Th St Newark, NJ 07107
- Apartment buildings
Current Use by Public Records
- Apartment buildings
Property Details for 186 12Th St
- Property type
- Apartment buildings
Description
This exceptional investment opportunity presents a three-building, 17-unit multifamily portfolio located in Essex County, New Jersey. The portfolio comprises two adjacent properties in Newark and one in Irvington, offering a strategic location and potential for significant value appreciation. The buildings are classified as Class C and boast 100% occupancy. The portfolio features a desirable unit mix, predominantly consisting of 15 two-bedroom apartments, supplemented by two commercial spaces. This presents a strong foundation for immediate cash flow and future growth. The current owner has identified a substantial upside potential of 49% through targeted management improvements and unit renovations. This value-add strategy allows for increased rental income and enhanced property value. The property is offered fee simple, and an assumable debt option is available. The existing loan features a 4.38% interest rate for 7.5 years, transitioning to a floating rate for an additional 10-year term. The current principal balance on the loan stands at $2,065,075. This portfolio is an ideal acquisition for investors seeking a strong cash-flowing asset with significant upside potential in a desirable New Jersey market. The three buildings are three stories each. The portfolio is located at 186 N 12th St, Newark, NJ 07107.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Newark
- County
- Essex
- State
- New Jersey
- Longitude
- -74.1916
- Latitude
- 40.7628
