901-903 S 16Th St Active Save Request In-Person Tour Request Virtual Tour
Newark City,NJ 07108
Key Details
Property Type Multi-Family, Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 2,020 sqft
Price per Sqft $443
MLS Listing ID 3981716
Style 3-Three Story
Bedrooms 7
Full Baths 3
Half Baths 1
Year Built 2020
Tax Year 2024
Lot Size 3,484 Sqft
Property Description
Five-year-old two-family home, property is zoned for three units. This modern multi-unit offers both immediate rental income and future potential. This property is ideal for investors or owner-occupants. Tax abatement in place through June 2026, providing reduced expenses and more substantial cash flow. Recent construction offers low-maintenance living and future expansion potential. Unit 1 is vacant and includes access to the ground level, with the potential to be converted into a third legal unit with construction plans included. Unit 2 is tenant-occupied, generating $2,600 per month, including $100 for driveway parking. Additional features include an oversized garage with off-street parking, newer construction with updated systems and modern finishes, and a prime Newark location near schools, shopping, major highways, and public transportation to New York City.
Location
State NJ
County Essex
Zoning Residential
Interior
Interior Features Carbon Monoxide Detector, Fire Extinguisher, High Ceilings, Intercom, Shades, Smoke Detector, Vinyl-Linoleum Floors, Walk-In Closet
Heating Electric, Gas-Natural
Cooling Central Air
Heat Source Electric, Gas-Natural
Exterior
Exterior Feature Vinyl Siding
Parking Features Attached Garage, Garage Under, Oversize Garage
Garage Spaces 2.0
Utilities Available Electric, Gas-Natural
Roof Type Asphalt Shingle
Building
Sewer Public Sewer
Water Public Water
Architectural Style 3-Three Story
Schools
Elementary Schools Hawthorne
Middle Schools Hawthorne
High Schools Technology
Others
Senior Community No