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Elba Lizzette Camacho

lizzy@lizzettecamachohomes.com +1(908) 379-8964

$ 895,000

Est. payment -/mo

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901-903 S 16Th St Newark City, NJ 07108

7 Beds

3.5 Baths

2,020 SqFt

UPDATED:

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

Built in 2020, this modern multi-unit offers both immediate rental income and future potential. Currently configured as a legal two-unit and zoned with permits approved for three-unit use, this property is ideal for investors or owner-occupants. Unit 1 is vacant and includes access to the basement, which has 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. One year of tax abatement remains, providing reduced expenses and more substantial cash flow. 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. This is a rare opportunity to purchase a low-maintenance property with existing rental income and significant upside for long-term value and appreciation.

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

Listed by REAL

Elba Lizzette Camacho

Real Estate Professional | License ID: 2075896

+1(908) 379-8964

Elba Lizzette Camacho

901-903 S 16Th St Newark City, NJ 07108

Key Details

Location

Interior

Exterior

Building

Schools

Others

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901-903 S 16Th St