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47-53 Milford Ave
Newark, NJ 07108 South Broad Street

$4,425,000 USD

Apartments For Sale  •  15,984 SF

Property Details

• Property Type Apartments
• Total Building Size 17,400 SF
• Lot Size 0.33 AC
• Building Class C
• Year Built 1960
• Cap Rate 6.73 %
• Zoning R-3

64 Transit Score

71 Walk Score

Highlights

18-unit multifamily with 38% vacancy and 10% rental upside for value-add investors.

All units renovated with strong two- and three-bedroom unit mix for tenant appeal.

Attractive 6.73% cap rate and $297,054 NOI with pro forma upside.

Tenants pay all utilities except water/sewer and common area electric.

Prime Newark location, 5-minute walk to bus stop and easy access to Manhattan.

Brick construction, separately metered units, and landlord-friendly expense structure.

Cap Rate:

6.73 %

Public Transportation

Commuter Rail	Drive	Walk	Distance
Newark Airport (North Jersey Coast Line - NJ Transit Commuter Rail (NJ Transit), Northeast Corridor Line - NJ Transit Commuter Rail (NJ Transit))	8 min	-	2.8 mi
Newark International Airport (AirTrain Newark - Port Authority of New York and New Jersey Airtrain (Airtrain))	8 min	-	2.8 mi
Airport	Drive	Walk	Distance
Newark Liberty International	8 min	-	4.7 mi
LaGuardia	42 min	-	24.0 mi
John F Kennedy International	51 min	-	32.2 mi