53 Madison Street
Multi-Family | 8 Units | $231,250/unit
Marketing description
Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the multi-family investment property located at 53 Madison Street in Newark, NJ (the “Property”). The four-story building contains three (3) 1-Bedroom/1-Bathroom units and five (5) 2-Bedroom/1-Bathroom units situated upon a 0.07-acre parcel in a densely populated residential corridor. The Property features on-street parking.
53 Madison Street is well-positioned near downtown Newark, offering convenient access to the city’s central business district and surrounding residential neighborhoods. The property benefits from close proximity to Interstate 280, Interstate 78, and the Garden State Parkway, providing efficient regional connectivity throughout Northern New Jersey and into New York City. Nearby NJ Transit rail and bus service, as well as PATH access to Manhattan, further enhance accessibility. A diverse mix of retail, dining, educational, and cultural amenities in the downtown area supports strong livability and long-term tenant appeal.
Investment highlights
TRANSPORTATION & WALKABILITY
53 Madison Street offers strong multimodal connectivity within Newark, benefiting from frequent NJ TRANSIT bus service along nearby neighborhood corridors that link directly into downtown Newark and regional rail hubs. Residents and visitors can access broader commuter rail and light rail options at Newark’s main stations, which connect to the Northeast Corridor, North Jersey Coast Line, and other regional lines serving Jersey City, New York City, and the wider metro area. The property enjoys convenient highway access via the city’s arterial network feeding into major routes such as I78, I280, the Garden State Parkway, and the New Jersey Turnpike.
The surrounding streets support everyday walkability, with typical Newark residential blocks providing short walks to transit stops and neighborhood retail, positioning the address well for both car-free and car-light lifestyles.
AREA AMENITIES & DEMAND DRIVERS
53 Madison Street benefits from its location in Newark’s popular Ironbound neighborhood, which offers a dense mix of restaurants, cafes, neighborhood retail, and everyday services that support strong renter demand.
Robust access to downtown Newark, Newark Penn Station, and regional highways positions residents close to major employment hubs in Newark’s central business district, the University Heights academic and medical cluster, Newark Liberty International Airport, and nearby Jersey City and Manhattan, reinforcing ongoing demand for apartment housing.
The area’s walkable streets and proximity to schools, parks, and community facilities appeal to households seeking urban convenience without sacrificing neighborhood character.
UTILITIES
The Property is separately metered for gas powered heat & hot water, as well as individually metered electricity, which tenants pay directly. The Landlord is responsible for providing city water and sewer.
DESIRABLE BRICK CONSTRUCTION
The Property features durable brick construction, a highly desirable attribute for multifamily housing that provides long-term structural integrity, fire resistance, and reduced maintenance requirements. Brick construction also delivers superior sound attenuation and thermal efficiency, contributing to lower utility costs and enhanced resident comfort while preserving long-term aesthetic appeal. STRONG RENTAL DEMOGRAPHICS & DEMAND
More than 65,900 people live within 1 mile of the Property with an average household income of $89,773. Over 308,100 people reside within 3 miles of the Property with an average household income of $79,124.
QUALITY OF LIFE AMENITIES
Residents can walk to vibrant local dining including Cornbread Newark, a highly rated soul food restaurant, Fornos of Spain, a popular Spanish destination in the Ironbound, Banh & Bo for Vietnamese fare, Allettante Restaurant for Italian and seafood, Burke’s Tavern for burgers and cocktails, and Souzafit Restaurant for health-focused meals.
Convenient groceries and daily needs are served nearby by Whole Foods Market and multiple CVS pharmacy locations, as well as neighborhood markets like Golden Farm Market and Halsey Deli & Grocery for quick essentials.
Outdoor amenities include Harriet Tubman Square, Military Park, Lincoln Park, and Mulberry Commons, all part of Newark’s historic downtown park network, as well as the scenic Newark Riverfront Park along the Passaic River with walking trails and recreational space for leisure and exercise.
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