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Listed with Darrell Bailey | 862-283-1281, EXP Realty, LLC
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Newark legal three family home in the 07103 zip code offers exceptional potential for investors or homeowners. Featuring 2/4/4 bedroom layouts, a spacious basement, and low taxes, this property is ripe for renovation, with an estimated budget of $200K-$250K allowing for full customization. The first floor unit can be expanded by adding a front-facing room or converted into a duplex by incorporating the basement, potentially creating a fourth unit for increased rental income. Second and third-floor units offer flexibility to add up to four bedrooms, walk-in closets, or additional bathrooms, maximizing tenant appeal and rental income potential. ARV $730 to 800K + with projected rents of $2,000 to $2,500 per unit, the property can generate $8,000 to $10,000+ monthly, depending on the configuration. Situated near Rutgers, NJIT, downtown Newark, and major transit routes like I-78 and Garden State Parkway, it's an ideal location for tenants. The property is sold "AS IS,"
| DAYS ON MARKET | 2 | LAST UPDATED | 11/21/2024 |
|---|---|---|---|
| YEAR BUILT | 0 | COMMUNITY | 0714 |
| COUNTY | ESSEX | STATUS | Active |
| PROPERTY TYPE(S) | Multi Family |
| ADDITIONAL DETAILS | |
| AREA | 0714 |
|---|---|
| BASEMENT | Full, Unfinished, Yes |
| CONSTRUCTION | Aluminum Siding, Vinyl Siding |
| GARAGE | Yes |
| HEAT | Natural Gas |
| PARKING | No Garage |
| SEWER | Public Sewer |
| STYLE | 3 Family |
| TAXES | 6628 |
| WATER | Public |
MORTGAGE CALCULATOR
TOTAL MONTHLY PAYMENT
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All information deemed reliable but not guaranteed. Last date updated: 11/23/24 9:41 AM PST Source: New Jersey Multiple Listing, Inc.
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