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521-523 Washington St
Newark, NJ 07102 South Broad Street

Price Upon Request

Apartments For Sale  •  4,838 SF

Property Details

  • Property Type Apartments
  • Total Building Size 4,838 SF
  • Lot Size 0.09 AC
  • Building Class C
  • Year Built 1915
77 Transit Score
89 Walk Score

Highlights

Please contact Michael Sherman at (631)235-9741 or email at Michael@baselinerealestate.com for any questions in regard to the offering.
An open house will be conducted April 1st, from 10:00AM to 12:00PM, please contact Michael Sherman to schedule.
NNN $279,937 per year Guaranteed lease with government backing for this 38-bed multifamily asset operating as a VA rehabilitation facility.
Strong investment with a NNN lease through October 2028 with annual in-place increases, allowing for high NOIs.
Tenant is on their second five year term, the VA contract is for 5 years and tenant can only sign lease for duration of VA contract.
Extremely high probability of renewal as it is very hard to get sites approved by the VA.

Amenities

  • Microwave
  • Kitchen
  • Refrigerator
  • Oven
  • Tub/Shower

Public Transportation

Commuter RailDriveWalkDistance
Newark Penn Station (Broad Street Station - Newark Penn Station - NJ Transit Commuter Rail (NJ Transit), Grove Street - Newark Penn Station - NJ Transit Commuter Rail (NJ Transit), Newark Penn Station-World Trade Center - NJ Transit Commuter Rail (NJ Transit), North Jersey Coast Line - NJ Transit Commuter Rail (NJ Transit), Northeast Corridor Line - NJ Transit Commuter Rail (NJ Transit), Raritan Valley Line - NJ Transit Commuter Rail (NJ Transit)) 2 min - 1.4 mi
Newark Broad Street (Montclair-Boonton Line - NJ Transit Commuter Rail (NJ Transit), Morris & Essex Gladstone Branch - NJ Transit Commuter Rail (NJ Transit), Morris & Essex Morristown Line - NJ Transit Commuter Rail (NJ Transit)) 4 min - 2.4 mi
Transit/SubwayDriveWalkDistance
Washington Street (Grove Street - Newark Penn Station - Newark Light Rail (Newark Light Rail)) 1 min 17 min 0.9 mi
Military Park (Grove Street - Newark Penn Station - Newark Light Rail (Newark Light Rail)) 2 min 19 min 1.0 mi
AirportDriveWalkDistance
Newark Liberty International 7 min - 4.5 mi
LaGuardia 41 min - 23.8 mi
John F Kennedy International 51 min - 32.0 mi