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$ 880,000
Est. payment | /mo
999 SqFt
$ 880,000
Est. payment | /mo
999 SqFt
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 999 sqft
Price per Sqft $880
MLS Listing ID 3952913
Year Built 1900
Annual Tax Amount $12,983
Tax Year 2024
Lot Size 1,742 Sqft
Property Description
Prime investment opportunity in the heart of Newark! This mixed-use property features a fully rented commercial space on the 1st floor, generating $2,570/month with a 10-year lease and a 3% annual increase, ensuring long-term income stability.The 2nd-floor apartment is a spacious 4-bedroom, 1-bath unit, currently vacant and listed for $2,700/month, offering immediate rental potential at market value.The 3rd-floor unit is a 3-bedroom, 1-bath apartment, currently rented at $2,000/month, well below market value presenting a fantastic opportunity for future rent increases.The roof is one year old and has new electrical wiring.Located in a high-traffic area with excellent visibility, this property offers strong rental demand and upside potential. Don't miss out on this exceptional investment schedule your showing today!
Location
State NJ
County Essex
Zoning Commercial
Interior
Heating Gas-Natural
Cooling No Cool
Flooring Laminate, Tile
Equipment Appliances, Smoke Detector
Heat Source Gas-Natural
Exterior
Exterior Feature Aluminum
Utilities Available Electric, Gas In Street, Gas-Natural
Roof Type Flat
Building
Story 3
Sewer Public Sewer
Water Public Water
Others
Ownership Fee Simple
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