Overview
Trivium Real Estate Advisors is pleased to present the exclusive opportunity to acquire 832-34-36 Mt Prospect Avenue, an 11-unit, fully occupied multifamily asset located in Newark’s North Ward, Essex County, New Jersey. The Property offers an investor the chance to acquire a stabilized, cash-flowing, well-amenitized asset — large units with 2 full bathrooms, central air, and on-site parking — in an established residential corridor, with a clear, near-term path to normalize operating expenses and close a modest embedded gap between in-place and market rent.
Investment Highlights
● Larger, Better-Amenitized Units: every unit offers 2 full bathrooms and central air — uncommon among comparable North Ward product.
● Tenant-Paid Utility Structure: electric and gas are separately metered per unit and paid by tenants; ownership's exposure is limited to water/sewer.
● Fully Occupied, Cash-Flowing Today: 100% occupied at close, with trailing income already covering debt service and then some — this asset performs from day one, not a lease-up play.
● Embedded Rent Upside: in-place rents sit below market, with room to grow further as leases turn.
● Documented Capital Reinvestment: meaningful trailing capex — renovations, HVAC, roof, appliances — points to an active, well-maintained asset, not deferred maintenance.
● Transit-Oriented Renter Demand: walking distance to Newark Light Rail, drawing renters priced out of Hudson County moving west along transit lines.
● Employment Base Near the Port & Airport: steady metro job growth led by transportation and warehousing tied to the port and Newark Liberty Airport.
● Established, Amenity-Rich Corridor: adjacent to a historic district and backed by an active business improvement district.
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