127-129 Grafton Ave, Newark City, NJ

About 127-129 Grafton Ave

6 Family home with parkling for approx 8 cars. Solid all-brick building fully rented in good condition. Great investment opportunity. Features 5-3 bedroom 1 bath apartments and 1-2-bedroom 1 bath apartment. All have eat-in-kitchens & living room. 2 coin-operated washer/dryers for added income. Roof is approx 10 years old. Landlord provides heat for 3 units, 3 units have separate heat/central ac. Each tenant pays own hot water, cooking gas & electric. 5 apts have leases expiring July 31, 2024. Rent amounts: 1R-$1,163 1L-$1,417 - 2R-$1,560 - 2L-$1,417 - 3R $1,184 (m/m)- 3L-$1,388. Gross Income: $97,588 yearly - Laundry Income: Between $1,200 - Expenses: $7,000 (heat and electricity) Water: $4,700 Insurance: $6,445 yearly Maintenance: $2,040 (garbage and snow removal). Exterminator: $1,200 yearly - Boiler Worry free program - $1440 Year. Total Expense $35K Approx Net $64K.

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