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358-360 S Orange Ave 8 Unit Apartment Building $1,768,663 CAD ($221,083 CAD/Unit) 6% Cap Rate Newark, NJ 07103
Investment Highlights
- Located along South Orange Avenue, a well-established multifamily corridor with strong residential demand.
- Surrounded by universities, medical centers, retail, and neighborhood amenities.
- The area offers convenient access to transit, major roadways, and Downtown Newark.
- Positioned within a market benefiting from continued investment and long-term growth drivers.
Executive Summary
Well-located 8-unit mixed-use property featuring 6 residential apartments and 2 retail spaces in a high-visibility Newark corridor.
The asset includes 5 occupied units generating current income, along with 3 oversized vacant apartments (two 4-bedrooms and one 3-bedroom). These units are fully renovated and ready for immediate lease-up, presenting a clear path to increased cash flow. The property offers an ideal blend of stability and upside—in-place income from existing tenants, combined with significant value-add through leasing large-format units that are in strong demand in today’s market. A compelling opportunity for investors seeking a partially stabilized asset with immediate execution and long-term growth potential.
The asset includes 5 occupied units generating current income, along with 3 oversized vacant apartments (two 4-bedrooms and one 3-bedroom). These units are fully renovated and ready for immediate lease-up, presenting a clear path to increased cash flow. The property offers an ideal blend of stability and upside—in-place income from existing tenants, combined with significant value-add through leasing large-format units that are in strong demand in today’s market. A compelling opportunity for investors seeking a partially stabilized asset with immediate execution and long-term growth potential.
Property Facts
| Price | $1,768,663 CAD | Apartment Style | Mid-Rise |
| Price Per Unit | $221,083 CAD | Building Class | C |
| Sale Type | Investment or Owner User | Lot Size | 0.06 AC |
| Cap Rate | 6% | Building Size | 10,000 SF |
| No. Units | 8 | Average Occupancy | 63% |
| Property Type | Multifamily | No. Stories | 4 |
| Property Subtype | Apartment | Year Built | 1955 |
| Zoning | C-2 - Commecial | ||
| Price | $1,768,663 CAD |
| Price Per Unit | $221,083 CAD |
| Sale Type | Investment or Owner User |
| Cap Rate | 6% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.06 AC |
| Building Size | 10,000 SF |
| Average Occupancy | 63% |
| No. Stories | 4 |
| Year Built | 1955 |
| Zoning | C-2 - Commecial |
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Exceptionally walkable
100/100
Fairly drivable
40/100
Exceptional public transit
90/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 14-00267-0000-00012-02 | Improvements Assessment | $1,394,962 CAD |
| Land Assessment | $57,411 CAD | Total Assessment | $1,452,374 CAD |
Property Taxes
Parcel Number
14-00267-0000-00012-02
Land Assessment
$57,411 CAD
Improvements Assessment
$1,394,962 CAD
Total Assessment
$1,452,374 CAD
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358-360 S Orange Ave
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