πŸ› οΈπŸ πŸ’΅ 3 Family Property | Newark, NJ

Essex County, Newark, NJ, 07107
Sold
Listed at: February 27th, 2024
Price
$525,000
ARV
$714,000
Gross Margin
$189,000
Sq. Footage
3388
Type
Multifamily
Parking
Street
Year build
1915
Lot size
0.06 acres
Bedrooms
8
Bathrooms
3
Half Bathrooms
0
Summary

Three unit investment property with a bonus unfinsihed basement that can be finished for additional rental income. One unit will be delivered vacant at closing. The other two tenants are Month-to-Month.

PROPERTY INFO:

Unit 1: 2BR/1BA – $1200 (Market Rent - $1,800)

Unit 2: 3BR/1BA – $1200 (Market Rent - $2,200)

Unit 3: 3BR/1BA – $1300 (Market Rent - $2,200)

Basement - unfinished/no bathroom

Market Rent Pro Forma

Projected Monthly Cash Flow: $1,816

Annual NOI: $56,901*

*(Based on a rental loan at 30% down, 7.5% interest, and market rents per unit)

 

Additional Info:

1 Unit to be delivered Vacant

Street Parking

Bonus: Basement unfinished with separate Entrance

DISCLOSURE: NOT FOR REDISTRIBUTION WITHOUT THE EXPRESS CONSENT OF NJ Fast Homebuyers, LLC OR ITS MEMBERS YOU MUST VERIFY ALL INFORMATION PROVIDED INDEPENDENTLY: Any estimates or information provided are for real estate investors’ convenience, who must verify all estimated numbers independently. ANY information regarding specifications, characteristics, or condition of this property, neighborhood, or investment strategy (including, but not limited to, as-is property square footage measurements or as implied by property expansion through construction) is an unverified assumption of NJ Fast Homebuyers, LLC or its affiliates based on limited information and should be verified independently for accuracy. NJ Fast Homebuyers, LLC and its affiliates assume no liability, either expressed or implied, for the accuracy of any estimates or information provided. RISK OF LOSS: Real estate investment is speculative in nature and risk of loss can be substantial. The recipient of this information should carefully consider whether such investing is suitable for them. Assignor will collect a Non-refundable deposit of $10,000 via certified funds, to be held by the title office. This deposit will be applied towards the assignment fee and/or purchase price with the balance due at closing. This deposit is non-refundable and is not contingent on anything beyond a clear and marketable title. Contract is not considered "assigned" to any buyer until non-refundable deposit is collected by NJ Fast Homebuyers, LLC.
Street View
Location
current deal
comparables
#2
available
$123k
sold
$99k
Bedrooms
Bathrooms
Sq. footage
Deals nearby
Available
Sold
Contact

Ralph Germain

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