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536-540 Central Ave

1 Unit Block of Flats For Sale Newark, NJ 07107

Investment Highlights

  • 23 units with 4,014± SF of commercial space
  • REO sale (lender owned)
  • Recently gut renovated with luxury design and finishes

Executive Summary

CBRE, Inc. has been retained as the exclusive advisor for the sale of a 23-unit gut renovated apartment building featuring 4,014± SF of commercial space positioned 20 minutes from Manhattan in Newark, New Jersey. Located at 536-540 Central Ave (“Property’), the asset is within 1.5± miles from one another and just steps from Newark’s vibrant downtown which is undergoing a renaissance driven by renewed commitments f rom Prudential, Rutgers, New Jersey Institute of Technology (NJIT), Mars, PSEG, Panasonic, Audible by Amazon, among many others. The Property offers an investor a unique opportunity to acquire a gut renovated building with strong stabilized yield and upside potential in a dynamic, transit-oriented rental market.

Property Facts

Sale Type Investment Building Class C
No. Units 1 Lot Size 0.18 AC
Property Type Residential Building Size 19,340 SF
Property Subtype Apartment Number of Floors 4
Apartment Style Mid Rise Year Built 1950
Sale Type Investment
No. Units 1
Property Type Residential
Property Subtype Apartment
Apartment Style Mid Rise
Building Class C
Lot Size 0.18 AC
Building Size 19,340 SF
Number of Floors 4
Year Built 1950

Unit Amenities

  • Air Conditioning
  • Heating
  • Kitchen
  • Oven
  • Vacuum System

Links

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Walk Score ®
Very Walkable (78)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
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What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®
Learn How It Works Detailed Scores

PROPERTY TAXES

Parcel Number 14-01827-0000-00001 Improvements Assessment £1,486,655
Land Assessment £74,176 Total Assessment £1,560,831

PROPERTY TAXES

Parcel Number
14-01827-0000-00001
Land Assessment
£74,176
Improvements Assessment
£1,486,655
Total Assessment
£1,560,831

zoning

Zoning Code C-2
C-2
(201) 712-5803

Contacts

  • Richard Gatto
    Richard Gatto
  • Fahri Ozturk
    Fahri Ozturk
  • Zachary McHale
    Zachary McHale

  • Listing ID: 30900638

  • Date on Market: 07/02/2024

  • Last Updated:

  • Address: 536-540 Central Ave, Newark, NJ 07107

The Newark Residential Property at 536-540 Central Ave, Newark, NJ 07107 is currently available. Contact CBRE for more information.

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© 2024 CoStar Group

536-540 Central Ave
(201) 712-5803 x

536-540 Central Ave

1/3

Richard Gatto

(201) 712-5803

(201) 712-5803

Fahri Ozturk

(516) 343-0013

(516) 343-0013

Zachary McHale

(201) 712-5600

(201) 712-5600

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