Newark 2-Fam Sold

  • $70,000
  • 4 beds
  • 2 baths
  • 1,280 sqft

OFF MARKET DEAL!

For more information please contact Gabe at

609-638-8465
Showing will be held on Thursday 09/20 from 11:30-1:30!
** There is to be no correspondence with seller during viewing**

Property Description
This is YOUR chance to purchase multifamily property in Newark at a very low price! Property has minor fire damage and needs additional repairs BUT will cashflow like CRAZY after renovations. This deal will not last long!
Sales Details
Asking: $70,000
Yearly Gross Rent: $31,200
Repairs: $80,000
Yearly Holding Costs: $10,584 (Includes utilities/insurance/taxes/management)
Net Income: $20,616
Cap Rate: 10%
Cash-on-Cash: 25.7%
ARV: $175,000
Comps
  • 106 s 13th st sold for 179,900 on 6/21/2018 (slightly larger, low end rehab)
  • 78 9th ave w sold for 160,000 on 02/09/2018 (slightly smaller, no rehab)
Disclaimers

CALL OR TEXT GABE PAOLELLA FOR MORE INFO AT 609-638-8465

SERIOUS BUYERS ONLY PLEASE. Buyer must be purchasing with cash, hard or private money, or line of credit and able to close within (30) days or less. $7000 deposit due within 48 hrs of acceptance. Property being sold “as is”, any and all inspections and certifications, including Certificate of Occupancy will be Buyer’s responsibility. Free and clear title, quick closing offered.

All information, regardless of source, should be verified by personal inspection by and/or with the appropriate professional(s). The information is not guaranteed. Measurements are solely for the purpose of marketing, may not be exact, and should not be relied upon for loan, valuation, or other purposes. The buyer is responsible at their sole cost and expense to obtain all required permits, approvals, and certificates, including but not limited to the certificate of occupancy and smoke detector certification.

*Estimate repairs are only an estimate, all buyers are encouraged to visit the property with contractor and gather an estimate.  

**After Repair Value is an estimate of what the property can be resold after repairs have been completed.  All buyers should perform their own due-diligence

Price:
$70,000
Address:
Newark, NJ 07107
Square Feet:
1,280
Bedrooms:
4
Bathrooms:
2
Terms:
For Sale
Property Type:
Home
Year Built:
1900

Call 609-638-8465 for more details