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Real Estate Acquisitions Co.

115 Ely Cres
Robbinsville, NJ 08691
 (609) 807-1497
Contact Us

Real Estate Acquisitions Co.

115 Ely Cres
Robbinsville, NJ 08691
 (609) 807-1497
Contact Us

563 Bloomfield Ave, Newark, NJ 07107

6 Bedrooms / 3 Baths / Commercial

Property Status: Available |  For Sale: $620,000.00



Wholesale Investment Property


Property Details:
Property Style:
Unknown
Year Built:
1950
Finished Sq. Ft:
2,474
Basement:
No Basement
Owner/Agent:
Owner / Agent
To see more details and pictures on the property please check the link: https://www.realestateacquisitions.co/property/265-wainwright-st-newark/

Wholesale Investment Property 

All Properties are normally sold within 14 days from the date listed. Please check the status of the unit with us before beginning research on properties older than 14 days.

This property information is Strictly for Real Estate Acquisitions Co. Investors and associates only.

This property is available for purchase only with Cash, Hard Money, or Private Money.

563 Bloomfield Ave, Newark, NJ 07107
Buy and Hold

Wholesale Price: $620,000

Buy/Rent
Rehab Cost: $20,000
After Repair Value: $680,000
Yearly Net Cash Flow: $58,576.00
Cash On Cash Return: 8.73%

The property has a current Cap Rate of 6.1%, with under market rents. Market rents would yield a projected Cap Rate of 8%

• Current Rents ($3,850):
Cap Rate: 8.61%
4BR – $1,600
1BR – $900
1BR – $950
CO – $1,700

• Projected Rents ($6,900)
4BR – $2,200
1BR – $1,500
1BR – $1,500
CO – $1,700

Property Information
Building Type: 4-Unit Commercial Property
Bedrooms: 6
Bathrooms: 3
Property SF: 2474
Real Estate Tax: $6,800 
Parking: Assigned

Property Characteristics:
4 Units
1st Floor
Commercial Office
Apt 1 – 1BR/1BA
2nd Floor
Apt 2 – 4BR/1BA
Apt 3 – 1BR/1BA
Gas
No oil tank
Individually metered for gas and electric
4,000 interior sq ft.
2500 sq ft.

This project is ideal for a buy and hold investor to add an underpriced 4-unit commercial property to their portfolio.

Located in a prime location close to the border of Belleville and Bloomfield. Residential units face Davenport Ave, while the commercial space has great exposure on Bloomfield Avenue.

Walking distance to numerous shops and restaurants. Public transportation is easily accessible off of Bloomfield Avenue. The Garden State Parkway is a 3 minute drive from the property making commuting easy.

Projected Financials: The following proforma is based on stabilized property occupancy Expenses and profits were derived from market research.

Real Estate Promo is not responsible for the properties or the information listed here. Each Property is independently owned.  Click on the link above to contact the Property Owner about this property.