NOT LISTED FOR SALE

179 Mapes Ave Newark, NJ 07112

Weequahic Neighborhood

Estimated Value: $585,000 - $683,258

10 Beds
5 Baths
-- Sq Ft
3,485 Sq Ft Lot

Last Sold June 04, 2021

Last sale price $425,000

Est. 51% increase in value since last sale

Current estimated payment $4,002/month

21 Days on Market

About This Home

As of June 2021

Amazing opportunity for an owner or investor to acquire 4 income producing multi-family properties in one of the fastest growing areas of Newark & Irvington. 179 Mapes Ave consists of 10 bed 5 baths. Potential to be sold separately or as a package comprising 13 units. Renovated and fully occupied. All Tenants month to month. Separate Utilities. Off-Street parking for 4 cars. Ability to install coin-operated laundry to increase NOI. Conveniently located near Weequahic Park, Beth Israel Hospital, shopping, and public transportation. Whether you are a first time home buyer interested in living in one unit (individual units can be delivered vacant) and collecting passive income or you are a seasoned investor looking to add to your portfolio this property has it all. NOI: $55,926. Individual Cap Rate 12% Combined Cap Rate 9.2%. See portfolio: 202026615, 202026614, 202026613, 202026612

Last Agent to Sell the Property

Carlos Beltran

COMPASS NEW JERSEY, LLC License #1758295 Listed on: 11/18/2020

COMPASS NEW JERSEY, LLC

Last Buyer's Agent

Carlos Beltran

COMPASS NEW JERSEY, LLC License #1758295 Listed on: 11/18/2020

COMPASS NEW JERSEY, LLC

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $6,702

Lot Details

  • 3,485

Parking

  • 3 Parking Spaces

Home Design

  • Aluminum Siding

Interior Spaces

  • Multi-Level Property
  • Living Room
  • Dining Room
  • Basement Fills Entire Space Under The House

Bedrooms and Bathrooms

  • 10 Bedrooms | 4 Main Level Bedrooms

Utilities

  • Heating System Uses Gas

Listing and Financial Details

  • Legal Lot and Block 00054 / 03664
  • Assessor Parcel Number 39045

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$6,702

Lot Details

0

Listing Details

  • Class: 3-4 FAMILY
  • Type: 3 Family
  • Building Style: Multi-Level
  • Lead Paint Form: Yes
  • Assessor Parcel Number: 39045
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Basement Type: Full
  • Total Bathrooms: 5
  • Total Full Baths: 3
  • Total Half Baths: 2
  • Total Bedrooms: 10
  • Total Living Rooms: 3
  • First Floor Bedrooms: 4
  • Floor 1 Dining Rooms: 1
  • First Full Floor Bathrooms: 1
  • Floor 1 Half Bathrooms: 1
  • Floor 1 Living Rooms: 1
  • Floor 1 Rent: 1985
  • Floor 2 Dining Room: 1
  • Floor 2 Full Bathrooms: 1
  • Floor 2 Half Bathrooms: 1
  • Floor2 Kitchens: 1
  • Floor 2 Living Rooms: 1
  • Floor 2 Rent: 1985
  • Third Floor Bedrooms: 2
  • Floor 3 Full Bathrooms: 1
  • Floor3 Kitchens: 1
  • Floor 3 Living Rooms: 1

Exterior Features

  • Exterior Finish: Aluminum/Vinyl

Garage/Parking

  • Parking Available: 3+ Cars

Utilities

  • Heating/Cooling: Gas

Lot Info

  • Geo Address Line: 179 Mapes Ave
  • Geo Primary City: Newark
  • Geo Quality: 0.95
  • Lot: 00054

Tax Info

  • Year: 2019
  • Taxes: 6702

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Feb 28, 2022
Sold by
Alexander Mendlowitz
Bought by
179 Mapes Llc
Current Estimated Value
$640,565

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$397,500
Outstanding Balance
$371,393
Interest Rate
3.92%
Mortgage Type
New Conventional
Estimated Equity
$269,172

Purchase Details

Listed on
Nov 18, 2020
Closed on
Jun 3, 2021
Sold by
Asdoel Group Llc
Bought by
Mendlowitz Alexander and Weiss Meyer
Seller's Agent
Carlos Beltran
COMPASS NEW JERSEY, LLC
Buyer's Agent
Carlos Beltran
COMPASS NEW JERSEY, LLC
List Price
$475,000
Sold Price
$425,000
Premium/Discount to List
-$50,000
-10.53%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
9.52%
Original Mortgage
$318,750
Interest Rate
2.9%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jul 9, 2020
Sold by
Azaria Isaac
Bought by
Asdoel Group Llc

Purchase Details

Closed on
Nov 20, 2018
Sold by
Azaria Family Hldg Llc
Bought by
Azaria Isaac

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$245,000
Interest Rate
4.8%
Mortgage Type
New Conventional

Purchase Details

Closed on
Dec 28, 2006
Sold by
Daniels Irene
Bought by
Hill Charles

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$256,500
Interest Rate
6.14%
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
179 Mapes Llc -- None Listed On Document
Mendlowitz Alexander $425,000 Fidelity National Title
Asdoel Group Llc -- Big Apple Title Agency
Azaria Isaac -- --
Hill Charles $285,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open 179 Mapes Llc $397,500
Previous Owner Mendlowitz Alexander $318,750
Previous Owner Azaria Isaac $245,000
Previous Owner Hill Charles $256,500
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
06/04/2021 06/04/21 Sold $425,000 -10.5% --
12/09/2020 12/09/20 Pending -- -- --
11/18/2020 11/18/20 For Sale $475,000 -- --
Source: Hudson County MLS

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $7,594 $203,700 $28,800 $174,900
2024 $7,594 $203,700 $28,800 $174,900
2022 $7,610 $203,700 $28,800 $174,900
2021 $7,606 $203,700 $28,800 $174,900
2020 $7,741 $203,700 $28,800 $174,900
2019 $6,702 $178,200 $28,800 $149,400
2018 $6,581 $178,200 $28,800 $149,400
2017 $6,344 $178,200 $28,800 $149,400
2016 $6,130 $178,200 $28,800 $149,400
2015 $5,897 $178,200 $28,800 $149,400
2014 $5,526 $178,200 $28,800 $149,400
Source: Public Records

Agents Affiliated with this Home

  • Carlos Beltran

    Seller's Agent in 2021

    Carlos Beltran

    COMPASS NEW JERSEY, LLC

    (347) 292-8750

    4 in this area

    31 Total Sales

    Carlos Beltran
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Map

Source: Hudson County MLS

MLS Number: 202026613

Hudson County MLS

APN: 14-03664-0000-00054

New Jersey Essex County Newark 07112 Weequahic

179 Mapes Ave, Newark, NJ

Not Listed for Sale

MultiFamily

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Information is deemed reliable but not guaranteed.

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