Multifamily Property for Sale in Newark, NJ

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Newark, NJ 07106

Description

Marcus & Millichap is pleased to offer for sale the 12-unit multi-family property located at 773-775 Sanford Avenue in Newark, New Jersey. Fully occupied, the property provides investors with the opportunity to acquire a cash-flowing asset in one of New Jersey’s most dynamic and evolving markets, with strong potential for both stable operations and long-term appreciation. Stabilized occupancy ensures a predictable revenue stream. The property is located on Newark’s west side, a primarily residential district served by South Orange Avenue, Springfield Avenue, and frequent bus service connecting to Newark Penn Station, Seton Hall University, and the Oranges. Proximity to I-280 and I-78 enables reverse commutes to suburban employment centers as well as quick connections to Downtown Newark and the airport/port complex. Greater Newark remains the most affordable submarket in North Jersey, with approximately 90 percent of its housing stock built before 1980. Many renters prioritize functional space near transit over luxury amenities. This socioeconomic context favors well-priced, renovated legacy assets. A significant share of residents lives below the poverty line, which limits demand for top-tier new construction but increases absorption at attainable rent levels. Meanwhile, Newark's zoning modernization and selective tax incentives have spurred downtown high-rise development, which commands higher asking rents. This dynamic creates spillover demand from renters who are priced out of the core but still seek proximity to the same employment base and transit network. Investment Highlights: • A 12-Unit Multi-Family Property Offering Immediate In-Place Cash Flow and Long-Term Appreciation Potential • Located on Newark's West Side with Connectivity to South Orange Avenue, Springfield Avenue, and Frequent Bus Service to Newark Penn Station and Seton Hall University • Proximity to I-280 and I-78 Provides Quick Access to Downtown Newark, Newark Liberty International Airport, a

Market Context

This multifamily in Newark, NJ is listed for sale. It is offered at an approximate 6.9% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 68 days. Compare it against other multifamily listings for sale in Newark, NJ — <a href="/search/sale/multifamily/new-jersey/newark">view the full market</a>.

As of Q1 2026, the New Jersey multifamily market showed a 3.3% vacancy rate, and rents up 37.0% year over year. Source: CBRE Q1 2026 market report.

Rising rents point to a competitive market where well-priced, well-located assets trade quickly.

Multifamily market FAQ

Is the New Jersey multifamily market tightening or softening?
Vacancy is around 3.3%, with asking rents rising year over year (Q1 2026).

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