For Sale, USD 649,000
125-127 Bloomfield Ave, Newark, NJ, 07104, New Jersey, United States
Property Type : Other Residential
Property Style : N/A
Build Size : N/A
Land Size : N/A
Bedroom : 3
Bathroom : 3
Half Bathroom : 0
MLS#: 260022269
Property Description
A five-unit mixed-use building on Bloomfield Avenue in Newark: two street-level commercial spaces and three apartments, offered at $649,000 with two apartments currently collecting month-to-month rent. The three vacant spaces give an investor room to build income. In one projected scenario - the two commercial spaces leased at their advertised $1,600 asking rents and all three apartments at $1,450 a month - the building would gross $90,600 a year, a projected $62,834 of income after listed expenses and a 5% vacancy allowance, a 9.68% projected cap rate at the asking price. That scenario also assumes the two occupied apartments, now $1,000 and $1,100, reach $1,450 - a step that depends on the existing leases and any applicable restrictions, with no guaranteed route. Presented by Team Tarek Real Estate Group at Prominent Properties Sotheby's International Realty.
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125-127 Bloomfield Ave , Newark, NJ 07104, United States,New Jersey is a New Jersey luxury Other Residential listed for sale USD 649,000. This high end New Jersey Other Residential is comprised of 3 bedrooms and 3 baths. Find more luxury properties in New Jersey or search for luxury properties for sale in New Jersey.