93 Davenport Ave, Newark, NJ 07107

This property presents a compelling "turnkey" opportunity for both seasoned investors and owner-occupants looking for a low-maintenance, high-yield asset. Below is a refined marketing description and a summary of the investment highlights based on the property details provided.

Property Overview: 93 Davenport Ave

Turnkey 4-Unit Multifamily | High-Yield Investment

93 Davenport Ave is a robust, four-unit brick multifamily building designed for maximum efficiency and consistent cash flow. Each of the four spacious units features a 3-bedroom, 1-bathroom layout with updated interiors, catering perfectly to the high demand for family-sized rentals in the area.

This asset is strategically positioned for an investor seeking a "set and forget" addition to their portfolio. With separate utilities (tenants pay gas and electric) and a history of stable occupancy, the property boasts low operating overhead and minimal management headaches. Whether you are looking for long-term appreciation or a solid owner-occupy situation where the other units cover your mortgage, this property delivers.

Investment Highlights

• Optimized Unit Mix: (4) Large 3-Bedroom / 1-Bath units, ideal for long-term tenant retention.
• Strong Financials: Boasting an 8.29% CAP rate with low operating expenses.
• Utility Efficiency: Tenants are responsible for their own gas and electric; landlord covers only water and sewer.
• Superior Structure: Solid brick construction ensures durability and lower long-term maintenance costs.
• Turnkey Condition: Features updated interiors and clean, move-in-ready units (one unit currently vacant—perfect for an owner-occupant or immediate market-rate leasing).
• Prime Location: * Transportation: Immediate access to highways and public transit (conveniently located near the local Train Station).
  • Amenities: Located directly next door to a laundromat and close to local shopping hubs.
• Parking: Includes off-street parking, a premium feature for urban multifamily assets.

Strategy Options

• The Portfolio Builder: Add a stabilized, income-producing asset to your portfolio with dependable tenants already in place.
• The House Hacker: Occupy the vacant unit and allow the rental income from the remaining three units to subsidize your living expenses and build equity.