485 18Th Ave | Newark City
Mixed-use investment opportunity featuring five income-producing units. The street-level unit is currently configured and occupied as a 2-bedroom, 1-bath unit, with potential commercial use subject to applicable zoning, approvals, and permitted use. The second and third floors each contain two 1-bedroom, 1-bath apartments with living room and kitchen, for a total of four residential units. All units are currently month-to-month with a history of timely rent payments. Current monthly gross income is $5,600, totaling $67,200 annually. Reported annual operating expenses are $14,626, resulting in NOI of $52,574 and an estimated 6.58% cap rate based on the current asking price. Convenient Newark location with access to public transportation and major roadways. Rent roll and financial information available for review. All income, expenses, permitted uses and financial information to be independently verified by buyer. GSMLS 4047292
Directions to property: Between S 10th and S 11th Sts, off Springfield Ave.
