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380 11Th St Newark, NJ 07107

Four renovated Newark apartment buildings, 98% occupied.

Property Records

Overview

Added:
Dec 11, 2024
Days on market:
138
This exceptional investment opportunity presents a portfolio of four Class C apartment buildings located at 380 N 11th St, Newark, NJ 07107, within Essex County. The portfolio comprises a mix of studio, one, two, three, and four-bedroom units, currently boasting a 98% occupancy rate. Three of the four buildings have undergone complete renovations, including significant capital improvements, while the remaining building has received lighter renovations. Each building benefits from separate utilities. A compelling aspect of this investment is the potential for substantial rent increases. Current rents are approximately 22% below market value

Highlights

  • Portfolio of four Class C apartment buildings in Newark, NJ.
  • All buildings have separate utilities.
  • Significant rental upside potential (22%+).
  • Diverse unit mix: studios, 1-4 bedrooms.
  • Attractive assumable financing available.
  • Strong cap rate and cash-on-cash return.

Property Details for 380 11Th St

Property type
Apartment buildings
Class
C
Buildings
4

Location Insight

City
Newark
County
Essex
State
New Jersey
Latitude
40.7684295
Longitude
-74.187734

FAQs

What type of property is this?
Apartment building - Four renovated Newark apartment buildings, 98% occupied.
Where is the apartment building located?
The property is located at 380 11Th St Newark, NJ.
What are key features of this property?
This property features: Portfolio of four Class C apartment buildings in Newark, NJ.; All buildings have separate utilities.; Significant rental upside potential (22%+).
How can I contact the broker?
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380 11Th St
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