Positioned in Newark?s highly desirable Ivy Hill neighborhood, just steps from Seton Hall University, this 4-family property, with 8 bedrooms and 5 full baths, presents a rare opportunity for investors and owner-occupants alike. Enjoy convenient access to the lifestyle and amenities of South Orange Village and the greater SOMA community?without… Read More the premium price tag. Commuters will appreciate the nearby train service providing easy access to New York City. What sets this property apart? Aside from low property taxes and four income-producing units, the home features a finished basement with three additional rooms and a full bathroom, offering valuable flexibility and potential. The building is equipped with separate gas and electric meters, separate and new hot water heaters, and three out of four newer boilers, providing operational efficiency and ease of management. The property offers long-term investment potential with strong upside. Whether you're seeking immediate cash flow, future appreciation, or a combination of both, this asset checks all the boxes for a buy-and-hold strategy. The property also includes four garages and long driveway, providing additional value and income potential. Property and garages are being conveyed in as-is condition. Read Less
Courtesy of C-21 SEMIAO & ASSOCIATES.
Listing Snapshot
Days Online
0
Last Updated
Property Type
Other
Beds
8
Square Ft.
3,600
Lot Size
0.12 Acres
Year Built
1932
MLS Number
4035987
30 Days Snapshot Of 07106
$540k
+7%
(avg) sold price
4
-33%
homes sold
66
+1%
(avg) days on market
Snapshot
Area Map
Additional Details
Basement
Finished, Walkout, Yes
Building
Built in 1932
Cooling
None
Exterior Features
Aluminum Siding, Brick
Garage
4 garage spaces, Detached Garage
Water Features
Gas, Public Water
Heating
Gas-Natural, 4+ Units
Lot
Approximate Lot Size: 42.6X120, 0.12 acres
Parking
4 parking spaces, 2 Car Width, Blacktop
Property
3,600 sqft building, 4 units, FHA Age Restricted: No
Roof
Flat, Rubberized
Sewer
Public Sewer
Taxes
Annual Tax Amount: $9,993, Tax Rate: 3.999
Unit One
1 bathroom, 2 bathrooms, 900 sqft, Handicap Accessibility: No, Range/Oven - Gas
Unit Two
1 bathroom, 2 bathrooms, 900 sqft, Handicap Accessibility: No, Range/Oven - Gas
Unit Three
1 bathroom, 2 bathrooms, 900 sqft, Handicap Accessibility: No, Range/Oven - Gas
Unit Four
1 bathroom, 2 bathrooms, 900 sqft, Handicap Accessibility: No, Range/Oven - Gas
Utilities
All Underground
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