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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 spacious 4-bedroom, 1-bath apartment on the 2nd floor is currently vacant and listed for $2,700/month, offering immediate rental potential at market value. The 3rd-floor 3-bedroom, 1-bath unit is rented at $2,000/month, well below market value, providing a great opportunity for future rent increases.Recent updates include a new roof (1 year old) and upgraded electrical wiring. Located in a high-traffic area with excellent visibility, this property offers strong rental demand and significant upside potential.Perfect for owner-occupants, this multi-family property with commercial space offers a unique opportunity to live and collect rent. FHA financing available with just 3.5% down. Ideal for those looking to invest in their future while generating consistent rental income.Don't miss out on this rare opportunity schedule your showing today!
| DAYS ON MARKET | 3 | LAST UPDATED | 3/26/2025 |
|---|---|---|---|
| YEAR BUILT | 1900 | COMMUNITY | Newark |
| COUNTY | Essex | STATUS | Active |
| PROPERTY TYPE(S) | Multi Family |
| Elementary School | FRANKLIN |
|---|---|
| Jr. High School | TECHNOLOGY |
| High School | BARRINGER |
| ADDITIONAL DETAILS | |
| APPLIANCES | Gas Water Heater |
|---|---|
| AREA | Newark |
| BASEMENT | Unfinished, Walk-Out Access, Yes |
| CONSTRUCTION | Vinyl Siding |
| HEAT | Natural Gas |
| LOT | 1742 sq ft |
| PARKING | On Street |
| SEWER | Public Sewer |
| STORIES | 3 |
| STYLE | 3-Three Story |
| TAXES | 12983 |
| UTILITIES | Natural Gas Available |
| WATER | Public |
| ZONING | Commercial |
MORTGAGE CALCULATOR
TOTAL MONTHLY PAYMENT
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