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638 Mount Prospect Ave
Newark, NJ 07104 Forest Hill

Price Upon Request

Apartments For Sale • 21,351 SF

Property Details

Property Type Apartments
Total Building Size 21,351 SF
Lot Size 0.27 AC
Building Class B
Year Built 1930
Zoning C-2

80 Transit Score

90 Walk Score

                
                    Highlights
                
                                638 Mount Prospect Avenue is a fully occupied four-story mixed-use residential asset with an institutional medical anchor in Newark’s North Ward.
                            
                                Immediate cash flow; rent-controlled income from 11 stabilized residential units, including (3) HUD Section 8 voucher units, & an 8K SF retail space.
                            
                                New 10-year triple net (NNN) lease with a creditworthy tenant features built-in rent growth, ensuring stable, long-term income.
                            
                                Located on a prime corner in Forest Hill, a desirable historic district known for strong occupancy and long-term residential demand.
                            
                                Walkable to NJ Transit, Light Rail, and Broad Street Station, with direct access to Midtown Manhattan and major highways such as I-280 and GSP.
                            
                                Positioned within a dense trade area of 750,000 residents, renter-heavy demographics, and $8 billion in spending supporting long-term growth.

Amenities

Laundry Facilities
Storage Space
Public Transportation

Public Transportation

Commuter Rail	Drive	Walk	Distance
Watsessing Avenue (Montclair-Boonton Line - NJ Transit Commuter Rail (NJ Transit))	5 min	-	2.1 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))	5 min	-	2.4 mi
Transit/Subway	Drive	Walk	Distance
Branch Brook Park (Grove Street - Newark Penn Station - Newark Light Rail (Newark Light Rail))	2 min	13 min	0.6 mi
Silver Lake (Grove Street - Newark Penn Station - Newark Light Rail (Newark Light Rail))	3 min	18 min	0.9 mi
Airport	Drive	Walk	Distance
Newark Liberty International	14 min	-	8.3 mi
LaGuardia	44 min	-	28.4 mi
John F Kennedy International	52 min	-	31.8 mi

Parking Details

Parking Available:	Yes
Reserved:	No
Spaces Provided:	20
Type:	Surface
Included in Rent:	Yes

Jeannette Melillo 862-227-6464 Newmark Associates CRE, LLC

638 Mount Prospect Ave Newark, NJ 07104 Forest Hill