Investment Overview

Marcus & Millichap has been hired exclusively to market the sale of a 612 N 5th St in Newark, New Jersey. The property consists of 8 units and is currently 100% occupied. All units received renovations consisting of new floors, kitchens, and bathrooms. The building has received extensive capital improvements listed below. This is a great opportunity to acquire a turn-key apartment building in the emerging Newark market with a strong entry yield, upside in rents and little to no maintenance with all Cap Ex recently done.  Although there is rent control in Newark there is a city ordinance that allows the legal rent to be raised if rented to voucher tenants. 612 N 5th St is across the street or within blocks of new developments, catalyzing property appreciation. The property is steps from Branch Brook Park and one of Newark’s most recognizable landmarks, the Cathedral Basilica of the Sacred Heart. The property have easy access to key employment centers of Downtown Newark. Major employers in Newark include the Prudential Center, Rutgers, New Jersey Institute of Technology (NJIT), Mars, PSEG, Panasonic, Saint Michael’s Medical, University Hospital, Gateway Group One and more. It is close to major international airports including Newark Liberty, JFK, and La Guardia.