Under contract

93 Davenport Ave, Newark, NJ 07107-1938

Beds
12
Baths
4
Garage
Yes

View property features, location on map, relevant school information and overview from seller's agent.

Listed byLIVX
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Overview

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.

Location

Full feature list

Basic info

Property type
Multi-family
Number of bedrooms
12
Number of bathrooms
4
Lot size (acres)
0.06
Year built
1957

Interior features

Basement
Yes, Finished

Exterior features

Horse amenities
Stable

Garage and parking

Garage parking spaces
2

Utilities

Sewer
Public Sewer
Water
Public Water

Taxes

Tax Annual Amount (2025)
$9,997

Public schools

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Sourced from: Garden State MLS MLS®#: 4021089 Last checked:

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