Multi-Family $ 999,000

93 Davenport Ave

Newark City, NJ 07107

  • 12 Beds
  • 4 Baths
    Full Baths: 4
  • 4,550 SqFt
  • 2,613 Lot Size
  • 1957 Year Built
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.
Listed by LIVX

PROPERTY DETAIL

  • Key Details

    Property Type Multi-Family

    Listing Status Active

    Purchase Type For Sale

    Square Footage 4, 550 sqft

    Price per Sqft $219

    Subdivision Upper Roseville

    MLS Listing ID 4021089

    Style Fourplex

    Bedrooms 12

    Full Baths 4

    Year Built 1957

    Annual Tax Amount $9,997

    Tax Year 2025

    Lot Size 2,613 Sqft

  • Location

    State NJ

    County Essex

  • Rooms

    Basement Full, Unfinished

  • Building

    Lot Description Corner

    Sewer Public Sewer

    Water Public Water

    Architectural Style Fourplex

  • Interior

    Interior Features Carbon Monoxide Detector, Fire Extinguisher, High Ceilings, Smoke Detector, Wood Floors

    Heating Gas-Natural

    Cooling Wall A/C Unit(s)

    Heat Source Gas-Natural

  • Exterior

    Exterior Feature Brick

    Parking Features Detached Garage

    Garage Spaces 2.0

    Utilities Available Gas-Natural

    Roof Type Rubberized

  • Schools

    Elementary Schools Abington

    High Schools Technology

  • Others

    Senior Community No

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