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93 Davenport Ave, Newark City, NJ 07107

$999,000
12
BD
4
BA
4,550
SqFt
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List Price
$999,000
MLS#
4021089
Year Built
1957
Status
ACTIVE UNDER CONTRACT
County
Essex
City
Newark City
Subdivision
Upper Roseville
Bedrooms
12
Bathrooms
4
Baths Full
4
Acres
0.06
Living Area
4,550
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Property 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.

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Additional Information

Taxes
$9,997
Cooling
Window/Wall
Garage Spaces
2
Heating
Multiple Heating Units
Roof
Rubber
Elementary School
ABINGTON
High School
TECHNOLOGY
Sewer
Public Sewer
Basement
Unfinished, Full
Exterior Features
Sidewalk
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