485 18Th Ave

Description

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. OPEN TO CREATIVE FINANCING OPTIONS. All income, expenses, permitted uses and financial information to be independently verified by buyer.

Property details

Type

Mixed Use

Lot size

0.04 acres

Lot dimensions

33.1X54

Building size

1,800 sqft

Year built

9999

Available area

1,800 sqft

Office area

1,800 sqft

Price per sqft

$444

Units

5

Offered

For Sale

Zoning

C2

Possession

At Closing

MLS #

4047292