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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!
| DAYS ON MARKET | 1 | LAST UPDATED | 3/25/2025 |
|---|---|---|---|
| YEAR BUILT | 1900 | COMMUNITY | Newark |
| COUNTY | Essex | STATUS | Active |
| PROPERTY TYPE(S) | Commercial |
| ADDITIONAL DETAILS | |
| AREA | Newark |
|---|---|
| CONSTRUCTION | Aluminum Siding, Wood Siding |
| HEAT | Natural Gas |
| LOT | 1742 sq ft |
| PARKING | On Street |
| SEWER | Public Sewer |
| STORIES | 3 |
| TAXES | 12983 |
| UTILITIES | Cable Available, Natural Gas Available |
| WATER | Public |
| ZONING | Commercial |
MORTGAGE CALCULATOR
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