601 6Th St Newark, NJ 07107

This exceptional value-add investment opportunity presents a six-unit apartment building located at 601 N 6th St, Newark, NJ, 07107, in Essex County. The property boasts 100% occupancy, generating a current NOI of $61,815, and a 3.86% cap rate. However, significant upside potential exists, with a pro-forma NOI projected at $112,215 and a pro-forma cap rate of 7.01%. Each of the six units includes a bedroom and a bathroom. Four out of six units feature moderately updated kitchens and bathrooms. The asking price is $1,600,000, translating to $266,667 per unit. This well-maintained building is situated minutes from Branch Brook Park, benefiting from its desirable location within Newark's dynamic real estate market. Importantly, this property is not subject to rent control, offering further potential for increased rental income. This presents a compelling opportunity for investors seeking strong returns and significant appreciation in a thriving urban environment. The property offers a blend of immediate income and long-term growth prospects.