93 Davenport Ave,Newark City, NJ 07107
Newark City, NJ 07107
Description
100% Occupied 4-Unit Brick Asset 8.20% CAP $94,339 NOI Exceptional investment opportunity in the Upper Roseville section of Newark. This fully occupied, turnkey 4-unit brick multifamily building is a high-yield performer, generating a Net Operating Income (NOI) of $94,339 with a strong 8.20% CAP rate.The property features (4) spacious 3-bedroom, 1-bathroom units, all currently occupied, providing immediate and stable cash flow. A standout feature of this asset is the extensive on-site parking, which includes a detached 2-car garage plus 4 additional off-street parking spaces. This provides a lucrative opportunity for ancillary income or a premium amenity for residents.The building is designed for low-overhead management with separate utilities; residents are responsible for their own gas and electric. Solid brick construction ensures durability and lower maintenance requirements over time. Located just 0.2 miles from the Davenport Ave Light Rail for easy commuting to Newark Penn Station and NYC. Sold in as-is condition.Fully occupied. NOI of $94,339 includes current residential rents and parking/garage income. Total parking: 2-car garage + 4 surface spots. Separate meters for all units.
Details
| MLS # | 4021089 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Under Contract |
| Year | 1957 |
| Days On Site | 173 |
| Listing Provided By | LIVX | GARIMA VERMA |
Features
| Bath(s) | 4 Total |
|---|---|
| Garage | 2 |
| Basement | Y |
Taxes
| Property | 9997 |
|---|
Area Information
| State | NJ |
|---|---|
| County | Essex |
| City | Newark City |
| Zip Code | 07107 |
| Area | Essex |
| Community Name | Upper Roseville |
| School District | TECHNOLOGY |
| Elementary School | ABINGTON |
| High School | TECHNOLOGY |
| Listing VS Median (in Upper Roseville) | |
Price: $999,000 low | high Med: $2,400 On site: 173 low | high Med: 162 | |
Market Activity 07107
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Learn More About This Property
| State | NJ |
|---|---|
| County | Essex |
| City | Newark City |
| Zip Code | 07107 |
| Area | Essex |
| Community Name | Upper Roseville |
| School District | TECHNOLOGY |
| Elementary School | ABINGTON |
| High School | TECHNOLOGY |
| Listing VS Median (in Upper Roseville) | |
Price: $999,000 low | high Med: $2,400 On site: 173 low | high Med: 162 | |
