Amazing INVESTMENT opportunity!!!

Own your own SRO building in an excellent suburban Newark area, there are few SRO's left in the area and the demnd is GREAT for these money making buildings! This home has been built with strong stone foundation, in the early 19th century as a stunning mansion, with time the property obtained a single occupancy license that can accommodate twenty people/couples.

They have a shared kitchen on every floor and some 5 units have their own baths. With creative TLC you can upgrade this home to 20th century vibes. As a bonus owner has drawn up an extension of over 40 additional studio units using the attached vacant lot and the back. BONUS: Vacant buildable lot attached!

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on 161-167 N 7th St
in Newark, NJ
Presented by Rachel Aviv at
Silvera Realty Co.


Property MLS #22401627 from MoreMLS

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+ Bedrooms

Bedrooms: 14

+ Bathrooms

Total Bathrooms: 8
Full Bathrooms: 8

+ Other Rooms

Basement Features: Finished

+ Exterior and Lot Features

Patio
Storm Door(s)

+ Land Info

Lot Size Acres: 0.21
Lot Size Dimensions: 93.58X100
Lot Size Square Feet: 9148

+ Garage and Parking

Parking Total: 10

+ Homeowners Association

Association: No
Calculated Total Monthly Association Fees: 0

+ Multi-Unit Info

Number of Units: 14

+ Other Property Info

Source Listing Status: Pending
County: Essex
Directions: From Orange st. turn right onto N 7th St. pass stop sign destination on right.
Source Property Type: Multi-Family
Area: Newark
MLS Area Minor: Newark (NEW)
Source Neighborhood: Newark
Zoning Description: Planned Residential
Property Subtype: Six Family
Source System Name: C2C
+ Reveal Property Sale History

Price Changed 2024-05-27
$1750000
MoreMLS

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Listed 2024-01-18
$1900000
MoreMLS

+ Building and Construction

Year Built: 1910
Building Area Total: 9370
Levels: 4
Property Age: 114

+ Utilities

Sewer: Public Sewer

+ Display Complete School Details

Franklin Elementary School is a public elementary school located approximately 0.8 miles away.
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New Testament Church School is a private elementary, middle and high school located approximately 0.1 miles away.
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Dr. E. Alma Flagg Elementary School is a public elementary and middle school located approximately 0.2 miles away.
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Essex County Vocational School is a public high school located approximately 0.4 miles away.
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