Exceptional mixed-use investment opportunity in North Newark! This well-maintained two-unit property offers strong, stable cash flow with long-term tenancy in place and significant upside for investors seeking a turnkey asset. The ground-floor commercial space is occupied by a successful neighborhood grocery store with 12 years remaining on the lease, providing… Read More reliable income and built-in 3% annual rent increases. The business is NOT for sale. The second-floor residential unit features 4 bedrooms, 1 full bathroom, den/office and is currently rented on a month-to-month basis, offering flexibility for future rent adjustments or owner-user possibilities. Current rental income: Commercial Unit: $3,550/month (12 years remaining, 3% annual escalations) Residential Unit: $2,420.50/month (month-to-month)With low annual taxes of just $9,573.61 and a desirable mixed-use configuration, this property delivers excellent cash flow potential and long-term income growth. Conveniently located on a busy street with strong visibility, consistent foot traffic, and easy access to major highways, public transportation, shopping, and local amenities. Read Less
Courtesy of RE/MAX PROFESSIONALS I.
Listing Snapshot
Days Online
0
Last Updated
Property Type
Other
Lot Size
0.06 Acres
Year Built
1920
MLS Number
4032963
30 Days Snapshot Of 07104
$464k
-5%
(avg) sold price
5
+150%
homes sold
139
+363%
(avg) days on market
Snapshot
Area Map
Additional Details
Basement
Bilco-Style Door, Yes
Building
Built in 1920, Renovated in 2018
Cooling
1 Unit, Window A/C(s)
Expenses
Expenses: See Remarks
Exterior Features
Aluminum
Floors
Laminate
Water Features
Public Water
Heating
Gas-Natural, 1 Unit
Lot
Approximate Lot Size: 25X100, 0.06 acres
Owner Pays
Sewer, Water
Property
2 units
Roof
Flat
Sewer
Public Sewer
Taxes
Annual Tax Amount: $9,573, Tax Rate: 3.999
Tenant Pays
Electric
Utilities
Gas-Natural
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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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