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Elizabeth Goldsmith 2 Multifamily Properties Offered at $22,625,966 CAD in Newark, NJ
Investment Highlights
- 3.5% assumable loan at 70% LTV with maturity date of 01/01/2032
- 92 units across 2 brick multifamily buildings with mostly renovated units
- 16% rent upside across all unit types versus pro forma market rents
- 7% actual cap rate and 9.6% cash on cash return on $16,081,000 price
- ~1-minute walk to bus stop; 16-min to Penn Station, 20-min to Midtown Manhattan
- Recent capital improvements: new boiler 2025, elevator mechanicals 2024, water heater 2022
Executive Summary
Broker Of Record
Patrick Forde
Matthews Real Estate Investment Services, Inc
122887, 2330333 (NJ)
300 Frank W Burr Blvd, Suite 440 Teaneck, NJ 07666 (866) 889-0550
Patrick Forde
Matthews Real Estate Investment Services, Inc
122887, 2330333 (NJ)
300 Frank W Burr Blvd, Suite 440 Teaneck, NJ 07666 (866) 889-0550
Property Facts
| Price | $22,625,966 CAD | Number of Properties | 2 |
| Price / SF | $247.35 CAD / SF | Individually For Sale | 0 |
| Cap Rate | 7% | Total Building Size | 91,475 SF |
| Sale Type | Investment | Total Land Area | 0.27 AC |
| Status | Active |
| Price | $22,625,966 CAD |
| Price / SF | $247.35 CAD / SF |
| Cap Rate | 7% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 91,475 SF |
| Total Land Area | 0.27 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 11-17 Goldsmith Ave, Newark, NJ 07112 | Multifamily | 55,000 SF | 1930 | - |
|
Elizabeth Goldsmith
691 Elizabeth Ave, Newark, NJ 07112 |
Multifamily | 36,475 SF | 1930 | - |
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Elizabeth Goldsmith
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