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    369 E Kinney St

    Newark City, NJ 07105
    • $1,249,000
    • STATUS: Active
    • ON SITE: 5 days
    • MLS #: 3679575
    New On Site 5 Days Ago
    UPDATED: 79 min ago
    $1,249,000
    • 0
      BEDS
    • 0.06
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Commercial
    County:
    Area:

    School Ratings & Info

    Description

    Six-unit Multi-Family turnkey property in the sought-after ironbound section, perfect to start or add to your real estate investment portfolio. Good rents with room to grow, reliable tenants (no default or late payments), separate utilities with low taxes give you an existing 6.2% cap rate. Apartments were updated 2 years ago, with modern finishes and new mechanicals. Property is located in a quiet one-way street in a nice neighborhood with cafe on one corner and independence park on the other. Close to Newark Penn Station, blocks from both Ferry and Wilson Ave, and close to major highways. All this makes it perfect to attract good long-term tenants. Accepting offers!

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    © 2020 Garden State Multiple Listing Service, LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or William Raveis Baer & McIntosh Real Estate. Notice: The dissemination of listings on this website does not constitute the consent required by N.J.A.C. 11:5.6.1 (n) for the advertisement of listings exclusively for sale by another broker. Any such consent must be obtained in writing from the listing broker.The data relating to real estate for sale or lease on this web site comes in part from GSMLS. Real estate listings held by brokerage firms other than William Raveis Baer & McIntosh Real Estate are marked with the GSMLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. Data last updated 2020-11-26T14:46:11.343.
    www.baerhomes.com/homes/112060375
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    369 E Kinney St Newark City, NJ 07105

    • Price: $1,249,000
    • Status: Active
    • Updated: 79 min ago
    • MLS #: 3679575
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.06
    Acres
    Neighborhood:
    Ironbound
    County:
    Essex
    Area:
    Newark City
    Property Description
    Six-unit Multi-Family turnkey property in the sought-after ironbound section, perfect to start or add to your real estate investment portfolio. Good rents with room to grow, reliable tenants (no default or late payments), separate utilities with low taxes give you an existing 6.2% cap rate. Apartments were updated 2 years ago, with modern finishes and new mechanicals. Property is located in a quiet one-way street in a nice neighborhood with cafe on one corner and independence park on the other. Close to Newark Penn Station, blocks from both Ferry and Wilson Ave, and close to major highways. All this makes it perfect to attract good long-term tenants. Accepting offers!
    Exterior Features

    Approximate Lot Size 25.7X96.5 Construction Wood Exterior Description Aluminum Location Residential AreaSee Remarks Number Of Bays 0 Number Of Docks 0 Parking Driveway Description None Roof Description Flat

    Interior Features

    Basement Yes Basement Description FullStorageWalkout Cooling No Cool Equipment Available AppliancesSmoke Detector Heating 4 Units Max Ceiling Height 9 Max Door Height 0 Number Of Lavatories 6 Office Sq Ft 0

    Property Features

    For Sale Or Lease For Sale Fuel Type Gas-Natural Gross Operating Income 103500 Net Operating Income 77250 Owner Pays Maintenance-Common AreaSewerWater Primary Property Type Apartment Complex Property Type Apartment Complex Sale Includes Building & Land Sewer Public Sewer Suite Number 0 Tax Amount 9364 Tax Rate Amount 3.761 Tax Rate Year 2019 Tax Year 2019 Tenant Pays GasHeatHot Water Total Operating Expense 26250 Utilities ElectricGas-Natural Utilities Paid By Tenant Water Public Water Year Built Description Unknown Zoning See Remarks

    Listing information © 2020 Garden State Multiple Listing Service,LLC.
    Listing provided courtesy of Bhgre Elite.


    © 2020 Garden State Multiple Listing Service, LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or William Raveis Baer & McIntosh Real Estate. Notice: The dissemination of listings on this website does not constitute the consent required by N.J.A.C. 11:5.6.1 (n) for the advertisement of listings exclusively for sale by another broker. Any such consent must be obtained in writing from the listing broker.The data relating to real estate for sale or lease on this web site comes in part from GSMLS. Real estate listings held by brokerage firms other than William Raveis Baer & McIntosh Real Estate are marked with the GSMLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. Data last updated 2020-11-26T14:46:11.343.
     
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    William Raveis Baer & McIntosh Real Estate
    97 South Broadway
    South Nyack NY, 10960