15-19 Stone StNewark, NJ 07104

This exceptional 16-unit apartment building at 15-19 Stone Street, Newark, NJ 07104, presents a compelling investment opportunity. Priced at $3,500,000, this four-story brick building boasts a 5% capitalization rate and is currently at full occupancy. Recent upgrades include new boilers, a certified elevator, and a modern sprinkler system, ensuring efficient operation and long-term value. The building comprises a diverse mix of units: twelve two-bedroom apartments, three three-bedroom apartments, and one one-bedroom apartment. Each unit features tile flooring, an eat-in kitchen, a spacious living room, and a bathroom, along with in-unit forced air heating and cooling. Located in a desirable Newark neighborhood, this property offers convenient access to amenities and is poised for continued strong rental income and potential appreciation. The meticulous maintenance and recent upgrades contribute to the building's strong financial performance and long-term profitability. This is a rare chance to acquire a well-maintained, high-occupancy multifamily property in a thriving Newark community. The building's solid foundation, combined with its desirable location and recent improvements, makes it an attractive investment for discerning buyers seeking stable returns and future growth potential. The property's strong financial performance, coupled with its location in a sought-after area, makes it an ideal addition to any investment portfolio. This is a turnkey opportunity to capitalize on the Newark real estate market's upward trajectory.