814-816 Clinton Ave - Newark, NJ $435,000
10 Units Mixed Use
2 retail and 8 apartments (6 one bedrooms, 2 studios)
Taxes $10,991
Fully Renovated
New wiring 2009, New Plumbing 2008, New Roof 2007
Ceramic tile in all kitchens and baths 2008.
Two apartments and 4 baths renovated in 2010
Current Green Card with 3 1/2 years left
Seller is open to seller financing
Common areas all have emergency exit lights
All apartments were renovated with ceramic tile in the kitchens and baths
A separate utilities except water, All new boilers and hot water heaters
Neighborhood
| Rent | $67,800 |
| Vacancy (5%) | $3,390 |
| Maintaince | $4,068 |
| Taxes | $12,761 |
| Insurance | $5,000 |
| Sewage/Water | $1,800 |
| Gas/Electric | $420 |
| Total Expenses | $27,439 |
| NOI | $40,361 |
Rent Roll
Store .....900
Store .....950
6 (1) br ...500
2 Studio 400
Total .....5650
Cap Rate 9.3%
Both Commercial units are on new 5 year leases.
