Under contract

539 18Th Ave, Newark, NJ 07103-1451

Beds
9
Baths
4

View property features, location on map, relevant school information and overview from seller's agent.

Listed byRE/MAX FIRST REALTY II
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Overview

Spacious 4 family corner property located opposite West Side Park in the desirable 07103 section of Newark. Features a 2/2/2/3 bedroom layout with 3 fully renovated 2 bedroom apartments showcasing modern kitchens, bathrooms, appliances and hardwood flooring throughout. The property is currently generating approximately $10,000 per month from the three renovated units. The remaining 3-bedroom unit requires renovation, presenting a strong value-add opportunity with projected gross income of approximately $15,000 per month once completed. Separate laundry, utilities, and mechanical units for each apartment provides efficiency and ease of management. The basement offers additional upside potential for possible conversion into two additional units (subject to municipal approval), or alternatively for laundry facilities, tenant storage, or bonus rooms to further enhance income. Ideal for investors seeking stable cash flow with future appreciation or an owner-occupant looking to offset their mortgage with rental income. Perfect for short-term rental strategy (subject to local regulations) or long-term hold. Conveniently located near the Garden State Parkway, Route 280, and major transportation routes with easy access to NJ Transit, Newark Penn Station, Newark Liberty International Airport, NJPAC, The Newark Museum of Art, Rutgers University, University Hospital, and NJIT. This building may qualify for a grant to assist with down payment or closing costs via our approved lenders.

Location

Full feature list

Basic info

Property type
Multi-family
Number of bedrooms
9
Number of bathrooms
4
Lot size (acres)
0.07
Year built
1930

Interior features

Basement
Yes, Finished

Exterior features

Horse amenities
Stable

Utilities

Cooling
None
Sewer
Public Sewer
Water
Public Water

Taxes

Tax Annual Amount (2024)
$11,679

Public schools

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Disclaimer: Certain information displayed on this listing has been derived from parties other than Final Offer, LLC. Information provided and their sources have been deemed reliable, but accuracy of information is not guaranteed and therefore should be independently verified.

Sourced from: Garden State MLS MLS®#: 4011619 Last checked:

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