$499,000 Price Analysis    ♡   Newark, NJ 07107 6 bed 3 bath 3,234 SqFt ($154/SqFt) 2,614SqFt lot. Built 1907 Listed 2023-08-10, Taxes $7,306 | Ⓧ USDA Ineligible due to location near Newark |
Presenting a fantastic opportunity for savvy investors and those seeking a versatile
* Sale Pending *Three unit income-generating property in a prime Newark location. This property is ideally situated in a vibrant neighborhood, it boasts proximity to Branch Brook Park, Newark Schools Stadium and one block from the Davenport Ave Light Rail Station. With easy access t local amenities, restaurants and shop s. This legal three-unit property features three separate units, each comprising 2 bedrooms and 1 bathroom. Ideal for accommodating tenants or creating a comfortable living space for an owner-occupant. All three units boast open kitchens, inviting living areas and dedicated dining spaces, ensuring a comfortable and attractive environment for residents.
The property features a desirable balcony with the third unit, perfect for unwinding and enjoying the surroundings. Additionally, a nicely sized backyard provides a extraordinary opportunity for outdoor activities, gardening or simply enjoying the fresh air. Whether you're looking to maximize rental income from all three units or plan to live in one unit while generating rental income from the others, this property presents a compelling investment opportunity. Don't miss the chance to own a three-unit property in a sought-after Newark neighborhood. Schedule a viewing today to see the potential and value that this property offers!
Presented by Ryan Daniher at
COMPASS.
Property MLS #3859171 from GardenState
Full Bathrooms: 3
Carbon Monoxide Detector
Fire Extinguisher
High Ceilings
Smoke Detector
Tile Floors
Vinyl-Linoleum Floors
Wood Floors
Basement Description: Bilco-Style Door, Full, Unfinished
Heating Features: 1 Unit, Baseboard - Hotwater, Radiators - Steam
Heating Fuel: Electric, Gas-Natural
Metal Fence
Patio
Privacy Fence
Sidewalk
Storm Window(s)
Lot Size Acres: 0.06
Lot Size Square Feet: 2614
Garage Description: On-Street Parking
Bedrooms in Unit-1: 2
Bedrooms in Unit-2: 2
Bedrooms in Unit-3: 2
Total Bathrooms in Unit-1: 1.0
Total Bathrooms in Unit-2: 1.0
Total Bathrooms in Unit-3: 1.0
Total Rooms in Unit-1: 4
Total Rooms in Unit-2: 5
Total Rooms in Unit-3: 5
Unit-1 Description: Bedrooms, Dining Room, Kitchen, Living Room
Unit-2 Description: Bedrooms, Dining Room, Kitchen, Living Room
Unit-3 Description: Bedrooms, Dining Room, Kitchen, Living Room, Porch
Unit-1 Furnished Description: Carbon Monoxide Detector, Range/Oven - Gas, Refrigerator, Smoke Detector
Unit-2 Furnished Description: Carbon Monoxide Detector, Range/Oven - Gas, Refrigerator, Smoke Detector
Unit-3 Furnished Description: Carbon Monoxide Detector, Range/Oven - Gas, Refrigerator
Unit 1 Total Actual Rent: 600
Unit 2 Total Actual Rent: 1200
Source Listing Status: Under Contract
County: Essex
Directions: Bloomfield Ave to N 5th St
Tax Year: 2022
Source Property Type: Multi-Family
Source System Name: C2C
Coming Soon Date: 2023-08-17
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2023 | $148,500 + $47,500 $196,000 | $7,306 |
| 2022 | $148,500 + $47,500 $196,000 | $7,322 |
| 2021 | $148,500 + $47,500 $196,000 | $7,318 |
| 2020 | $148,500 + $47,500 $196,000 | $7,448 |
| 2019 | $148,500 + $47,500 $196,000 | $7,371 |
| 2018 | $148,500 + $47,500 $196,000 | $7,238 |
| 2017 | $148,500 + $47,500 $196,000 | $6,977 |
| 2016 | $148,500 + $47,500 $196,000 | $6,742 |
| 2015 | $148,500 + $47,500 $196,000 | $6,485 |
| 2014 | $148,500 + $47,500 $196,000 | $6,077 |
| 2013 | $148,500 + $47,500 $196,000 | $5,787 |
| 2012 | $124,800 + $75,000 $199,800 | $6,897 |
| 2010 | $124,800 + $75,000 $199,800 | $6,353 |
| 2009 | $124,800 + $75,000 $199,800 | $5,472 |
| 2008 | $124,800 + $75,000 $199,800 | $5,192 |
| 2007 | $124,800 + $75,000 $199,800 | $4,975 |
$499,000
GardenState
Year Built: 1907
Building Exterior Type: Aluminum Siding
Property Age: 117
Roof: Asphalt Shingle
House Style: 3-Three Story
Year Built Details: Approximate
Water Source: Public Water
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.