Secure your position in one of Newark's strongest rental markets before the market catches up. This 16-room, 3-family in the high-demand Weequahic section offers immediate cash flow, two vacant units for an owner-occupant or savvy investor, and a clear path to $6,500-$7,000 per month in gross rental income through modest… Read More updates and future lease turnover. Two units can be delivered vacant, allowing an owner-occupant to live in one while renting the other at market rate from day one, or an investor to stabilize both at current market rents. The second-floor unit provides stable in-place income with a tenant secured through October 2027, with rent repositioning potential upon lease expiration. Mortgage assumption at a below-market rate may be available, subject to lender approval, a rare financing advantage in today's rate environment. The Lionsgate Studios Newark campus, now under development, signals the South Ward's trajectory. Buyers who move now are purchasing ahead of that momentum. Features include separate utilities, a full unfinished basement with expansion potential, and convenient access to Weequahic Park, Newark Beth Israel Medical Center, Newark Liberty International Airport, major highways, and public transportation. Property sold as-is. Buyer responsible for Newark Certificate of Code Compliance and NJ DCA Green Card requirements. Read Less
Courtesy of COMPASS NEW JERSEY LLC.
Listing Snapshot
Days Online
28
Last Updated
Property Type
Other
Beds
8
Lot Size
0.09 Acres
Year Built
1923
MLS Number
4024882
30 Days Snapshot Of 07112
$554k
+2%
(avg) sold price
3
+50%
homes sold
79
-35%
(avg) days on market
Snapshot
Area Map
Additional Details
Basement
Unfinished, Yes
Building
Built in 1923
Cooling
Window A/C(s)
Exterior Features
Vinyl Siding
Garage
None
Water Features
Gas, Public Water
Heating
Gas-Natural, Baseboard - Hotwater
Lot
Approximate Lot Size: 40X100, 0.09 acres
Parking
4 parking spaces, 1 Car Width, Driveway-Exclusive, Off-Street Parking
All information contained herein deemed reliable but not guaranteed. Buyers should personally verify all information. GSMLS Data provided via Home Junction, Inc.
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