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218 Mulberry St 4 Unit Apartment Building $7,928,890 CAD ($1,982,223 CAD/Unit) 5.03% Cap Rate Newark, NJ 07102
Investment Highlights
- Redevelopment Zone
- Long-Term Upside Potential
- Value-Add Investment
- Located in the Heart of Downtown Newark
Executive Summary
218 Mulberry Street is a mixed-use, income-producing property located in the heart of Downtown Newark, steps from the Prudential Center, Mulberry Commons Park, and Newark Penn Station. The asset offers stable in-place income today and high long-term upside through assemblage, public-private partnership, or future redevelopment.
Financial Summary (Actual - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$477,374
|
$47.15
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$477,374
|
$47.15
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$78,332
|
$7.74
|
| Net Operating Income |
$399,042
|
$39.41
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $477,374 |
| Annual Per SF | $47.15 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $477,374 |
| Annual Per SF | $47.15 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $78,332 |
| Annual Per SF | $7.74 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $399,042 |
| Annual Per SF | $39.41 |
Property Facts
| Price | $7,928,890 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $1,982,223 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.08 AC |
| Cap Rate | 5.03% | Building Size | 10,125 SF |
| Sale Condition | Redevelopment Project | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1978 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | RDV - Redevelopment Zone | ||
| Price | $7,928,890 CAD |
| Price Per Unit | $1,982,223 CAD |
| Sale Type | Investment |
| Cap Rate | 5.03% |
| Sale Condition | Redevelopment Project |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.08 AC |
| Building Size | 10,125 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1978 |
| Opportunity Zone |
Yes |
| Zoning | RDV - Redevelopment Zone |
1 1
Walk Score®
Walker's Paradise (96)
Transit Score®
Rider's Paradise (95)
Property Taxes
| Parcel Number | 14-00872-0000-00056 | Improvements Assessment | $665,916 CAD |
| Land Assessment | $661,399 CAD | Total Assessment | $1,327,316 CAD |
Property Taxes
Parcel Number
14-00872-0000-00056
Land Assessment
$661,399 CAD
Improvements Assessment
$665,916 CAD
Total Assessment
$1,327,316 CAD
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218 Mulberry St
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