Multi- Fam in East Orange/Newark City?

4 Replies

You can't be an out-of-towner to invest in Newark or East Orange in my opinion, unless you have a very good agent or advisor. These areas can have potentially great returns when done right, but many fall prey to looking at the increasing ARVs and thinking they apply all over. Both areas have to be evaluated within the context of the block within the greater blocks to really understand what your appreciation will look like, which is a big plus to cash flow when it's hard to hit close to 1% rule.

I have been considering EO and definitely agree with the comment above - consider each property in the context of the block, and the immediate neighboring areas.  The areas north of 280 tend to be a bit nicer IMO, but there seems to be more inventory closer to Newark.

Originally posted by @Andrew Kaminsky :

Would anyone mind sharing their experiences as a MF investor in Newark City and/or East Orange. Thanks

 going great, love those areas.