125-127 Bloomfield Ave, Newark, NJ 07104
- $649,000
- List Price
- $649,000
- Status
- ACTIVE
- MLS#
- 260022269
- County
- Essex
- City
- Newark
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.
How much is your home worth?
...get instant property value now!
Mortgage Calculator
Listing Courtesy Of PROMINENT PROPERTIES SOTHEBY'S INTERNATIONAL REALTY, Contact: