Investment Overview

Marcus & Millichap has been hired exclusively to market the sale of a 137-139 Parker St & 318 Clinton Ave in Newark, New Jersey. The properties offer a diverse unit mix of (1-4 beds) that is 100% occupied. All units received recent renovations including new kitchens and floors etc. This is a great opportunity to acquire a turn-key deal including two apartment buildings in the emerging Newark market offering a higher LTV through an assumable loan. 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. The legal Fair Market Rent for Section 8 In Newark increases roughly $200 in 2025 for all bedroom counts, studios through 4 bedrooms, which is immediate upside. Both properties are across the street or within blocks of new developments, catalyzing property appreciation. They are situated in residential areas with rents increasing dramatically and vacancy consistently staying low. With strong unit mixes and proximity to public schools, these buildings are a perfect option for Newark’s demographics. The properties 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. They are close to major international airports including Newark Liberty, JFK, and La Guardia.