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$ 3,200,000
Est. payment | /mo
5,227 Sqft Lot
$ 3,200,000
Est. payment | /mo
5,227 Sqft Lot
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 3908027
Year Built 1989
Annual Tax Amount $23,560
Tax Year 2023
Lot Size 5,227 Sqft
Property Description
Discover a prime investment opportunity in Newark with this meticulously maintained 16-unit apartment building. Featuring a compelling 5% Cap rate and full occupancy, this four-story multi-family brick building offers a diverse mix of units: 12-two bedroom, 3-three bedroom, and 1-one bedroom apartments. Each unit includes an eat-in kitchen, spacious living room, and bathroom, ensuring comfortable living spaces for tenants.Located in a sought-after neighborhood known for its convenience and accessibility, this property is poised to deliver steady rental income and potential for future appreciation. Recent maintenance and upgrades enhance the building's long-term profitability.With ample room for appreciation, don't miss out on investing in this thriving Newark community. Schedule a tour today to seize this lucrative opportunity and secure your place in Newark's dynamic real estate market.
Location
State NJ
County Essex
Interior
Heating Electric, Gas-Natural
Cooling Central Air
Flooring Tile
Equipment Appliances, Fire Alarm, Intercom, Passenger Elevator(s), Smoke Detector, Sprinkler System, Storage Area(s)
Heat Source Electric, Gas-Natural
Exterior
Exterior Feature Brick/Block, Concrete
Utilities Available Electric, Gas-Natural
Roof Type Flat
Building
Story 4
Sewer Public Sewer
Water Public Water
Others
Ownership Fee Simple
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Listed by SIGNATURE REALTY NJ