691 Elizabeth Ave & 15 Goldsmith Ave

ATTRACTIVE ASSUMABLE DEBT OPPORTUNITY

• 92 Units
• 2 Buildings
• 3.5% Assumable Loan
• 7% Cap Rate
• 9.6% Cash-on-Cash Return

BUILDING HIGHLIGHTS

• Two brick multifamily buildings
• Strong unit mix of one-, two-, and three-bedroom apartments
• Majority of units renovated
• Laundry facilities in both buildings
• Hot water heater replaced in 2022
• Elevator mechanical systems replaced in 2024 (Goldsmith Ave)
• New boiler installed in 2025 (Elizabeth Ave)
• Separately metered utilities
• Tenants pay for cooking gas and electricity
• Landlord pays for heat, hot water, water/sewer, and common area electricity
• Prime location in Newark

CONVENIENT TRANSPORTATION

• The building is approximately a one-minute walk to Elizabeth Ave at Goldsmith Ave bus stop, which provides a 16-minute trip to Penn Station. Penn Station offers approximately a 20-minute train ride into Midtown Manhattan. Additionally, the property is located 2.5 miles from Newark International Airport, which is approximately a 10-minute drive away.