858-860 S 18th St, Newark, NJ 07108

ACCESS & CONNECTIVITY

Residents and visitors benefit from an extensive network of NJ Transit bus lines, including nearly 40 routes serving destinations throughout Newark and surrounding northern New Jersey communities. For rail travel, Newark provides convenient access to Penn Station and Broad Street Station, which are served by NJ Transit commuter rail, Amtrak, PATH trains to Manhattan, and the Newark Light Rail. These stations link the city with New York City, suburban New Jersey, and the broader Northeast Corridor. The area is also well-connected by road, with multiple major highways such as the New Jersey Turnpike, I-78, U.S. Route 1/9, I-280, Route 21, and the Garden State Parkway offering regional mobility in all directions. Additionally, Newark Liberty International Airport is just minutes away, further enhancing both regional and national connectivity for residents and businesses in the area.

AREA AMENITIES & DEMAND DRIVERS

The Property benefits from nearby shopping and dining along Springfield Avenue, accessibility to several parks and recreation centers, and convenient connections to educational institutions such as schools in the area and Essex County College.

Attractions like Branch Brook Park, the Newark Museum of Art, and frequent events at Prudential Center draw visitors from across the region, enhancing the neighborhood’s appeal.

Tenant housing demand is supported by easy access to public transit, major highways, and surrounding employment hubs in downtown Newark, University Heights, and nearby healthcare complexes, making the location attractive for commuters and families seeking both convenience and lifestyle amenities.

RECENT UPGRADES & RENOVATIONS

The Property has benefited from meaningful recent improvements that enhance asset quality and reduce near-term capital needs. Residential units have been renovated within the last year, featuring refreshed finishes that support strong tenant appeal and competitive rent positioning.

The Property’s roof, replaced within the last 4 years, provides investors with confidence in the building’s structural integrity and limits exposure to major building-system expenses in the foreseeable future.

SEPARATELY METERED UTILITIES

The Property is separately metered for gas powered heat and hot water, as well as separately metered electricity, which tenants pay directly. The Landlord is responsible for providing common area electricity and city water and sewer, which they pay directly.

STRONG RENTAL DEMOGRAPHICS & DEMAND

More than 73,800 people live within 1 mile of the Property with an average household income of $69,710. Over 438,000 people reside within 3 miles of the Property with an average household income of $90,284.

QUALITY OF LIFE AMENITIES

Popular local dining features soul food favorites like D & J Country Cooking and community gathering spots such as King’s Family Restaurant & Catering, both known for generous portions and authentic menus. For nightlife and entertainment, Atmosphere Bar and Lounge on Wainwright Street attracts locals with its dance floor and music events, while other establishments like Club Eclipse add variety to the area’s social scene.

Nearby daily conveniences include local markets such as Claro Grocery, Eddy’s Supermarket, and neighborhood retail like Madware Clothing Phase and Blimpie, making grocery shopping and errands walkable.

For major shopping needs, residents have easy access to Valley Fair Mall, additional supermarkets, and specialty stores in University Heights or along Broad Street, all reachable by car or transit.

Outdoor and lifestyle amenities are abundant; Branch Brook Park is famous for its cherry blossom festival and recreational offerings, and West Side Park provides venues for sports, playgrounds, and live entertainment, helping foster an active community and vibrant lifestyle for neighborhood residents.