7-Unit Property for Sale 

Newark, New Jersey 

275-277 Clinton Place | 7 Units with Parking

Asking Price: $325,000

After Repair Value: $560,000

Repair Estimate: $70,000

Estimate Gross Profit: $165,000

Legal Units: 7

Property Taxes: $7,900

Rent Roll $3,375  Proforma $5,825

 

Town Website: Newark, NJ 

Description: Property consists of two structures, a legal 2-family and a legal 5-unit.  The 2 family is a 3-bed, 1-bath and a 1-bed, 1-bath.  The 5 unit are studio apartments. There are 7 parking spaces.  Currently 5 paying tenants 1 vacancies 1 eviction.  Rent Roll is 5,825/mo when fully rented.  Monthly Expenses $1,900/mo. The 5-unit is fully leased for $475-500 per unit per month.   Property to be sold As-Is.  Buyer is responsible for any applicable City and/or State certificates.  Cash or Hard Money only.

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NJ Fixer-Uppers 

261 Springfield Avenue, Suite 103

Berkeley Heights, NJ 07922

908-464-0400