REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Listed by Darrell Bailey EXP Realty, LLC
$ 480,000
Est. payment | /mo
3 Baths
$ 480,000
Est. payment | /mo
3 Baths
Key Details
Property Type Multi-Family
Sub Type 3 Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 24037283
Style 3 Family
Full Baths 3
Property Description
Newark legal three family home in the 07103 zip code offers exceptional potential for investors or homeowners. Featuring 2/4/4 bedroom layouts, a spacious basement, and low taxes, this property is ripe for renovation, with an estimated budget of $200K-$250K allowing for full customization. The first floor unit can be expanded by adding a front-facing room or converted into a duplex by incorporating the basement, potentially creating a fourth unit for increased rental income. Second and third-floor units offer flexibility to add up to four bedrooms, walk-in closets, or additional bathrooms, maximizing tenant appeal and rental income potential. ARV $730 to 800K + with projected rents of $2,000 to $2,500 per unit, the property can generate $8,000 to $10,000+ monthly, depending on the configuration. Situated near Rutgers, NJIT, downtown Newark, and major transit routes like I-78 and Garden State Parkway, it's an ideal location for tenants. The property is sold "AS IS,"
Location
State NJ
County Essex
Area 7
Interior
Laundry None
