Multifamily

197 Schuyler Ave, Newark

197 Schuyler Ave, Newark, NJ 07112

Listing Price: $2,500,000

Cap Rate
6.11%
Number of Units
21
Price/Unit
$119,048
Price/Gross SF
$238.55
Gross SF
10,480

Investment Overview

197 Schuyler Avenue is a three-story, fully renovated, brick building located at the corner of Lehigh Ave and Schuyler Ave in New Jersey. The building consists of 20 units with an attractive unit mix of 17 one-bedrooms and three two-bedrooms. The property has an in place cap rate of 6.11% at the current asking price. All apartments have been updated with modern finishes including, new flooring, stainless steel appliances, counter tops, newly finished bathrooms. and seperately metered utilities. Tenants are responsible for cooking gas electric heat hot water and the landlord is responsible for cold water common area electric. Located less than a five minute walk from the Children's Hospital of New Jersey, the property is an ideal location for doctors and nurses. The property is located 5 miles from Newark Penn Station which offers a 15 minute ride to New York Penn Station and a half mile from the Maple Ave bus stop which offers a direct ride into Midtown New York. The property has immediate access to Interstate 78 and Route 22.

Investment Highlights

  • The property is currently operating with a net operatng income of $152,776 and an inplace cap rate of 6.11%
  • The property is located a half mile from the Maple Ave bus stop which offers a direct ride into the city.
  • Newly renovated with with modern finishes including, hardwood floors, new appliances, counter tops and newly finished bathrooms, separately metered utilities

Exclusively Listed By

Multifamily

197 Schuyler Ave, Newark

Listing Price: $2,500,000

Cap Rate
6.11%
Number of Units
21
Price/Unit
$119,048
Price/Gross SF
$238.55
Gross SF
10,480

Investment Highlights

  • The property is currently operating with a net operatng income of $152,776 and an inplace cap rate of 6.11%
  • The property is located a half mile from the Maple Ave bus stop which offers a direct ride into the city.
  • Newly renovated with with modern finishes including, hardwood floors, new appliances, counter tops and newly finished bathrooms, separately metered utilities

Investment Overview

197 Schuyler Avenue is a three-story, fully renovated, brick building located at the corner of Lehigh Ave and Schuyler Ave in New Jersey. The building consists of 20 units with an attractive unit mix of 17 one-bedrooms and three two-bedrooms. The property has an in place cap rate of 6.11% at the current asking price. All apartments have been updated with modern finishes including, new flooring, stainless steel appliances, counter tops, newly finished bathrooms. and seperately metered utilities. Tenants are responsible for cooking gas electric heat hot water and the landlord is responsible for cold water common area electric. Located less than a five minute walk from the Children's Hospital of New Jersey, the property is an ideal location for doctors and nurses. The property is located 5 miles from Newark Penn Station which offers a 15 minute ride to New York Penn Station and a half mile from the Maple Ave bus stop which offers a direct ride into Midtown New York. The property has immediate access to Interstate 78 and Route 22.

Exclusively Listed By

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