$410,000

Newark, NJ | Mixed-Use Multi-Family w/ Tenants | $4,800 Monthly Income

Mixed-use property located in Newark’s RDV Redevelopment Zone featuring two residential units and one commercial storefront. The building is tenant-occupied and generates $4,800 per month in total rent income. Residential units include a 2 bed / 1 bath at $1,300 and a 1 Bed/1 Bath at $1,200, while the commercial space rents for $2,300 and includes two parking spaces at the rear. The property is in livable condition, has public utilities, and is not located in a flood zone. 

Mixed Use Highlights

3 Bedroom & 2 Bathrooms

1,800 – 2,500 Finished Interior Sqft

Lot Size: 2,643 sqft

Zoning: RDV Redevelopment Plan – Mixed Use

Taxes: $6,742

Flood Zone Status: No, not in a flood zone

HOA: No

Oil Tank: No Oil Tank

Parking: 2 private spaces in rear

Detailed Layout

Second Floor: 

Apt 1: 2 bed / 1 Bath

Apt 2: 1 Bed / 1 Bath

First Floor: Commercial Storefront

Garage: Parking slab

Investment Potential

ARV: $600,000

Est. Repairs: $70,000

Attractive Buy & Hold Play in a qualified redevelopment zone

Tenant(s) Details

Rent Paid By Tenants Per Month: $4,800

Rental Term: Month to Month

Delivered Vacant: Negotiable

Utilities & Systems

Water: Public

Sewer: Public

Heating Fuel: Gas

Cooling: Window units

SOLD MULTI FAMILY COMPS

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CONTACT NICK WALSH AT 908-499-9128 WITH ANY QUESTIONS. 

DISCLAIMER: This is an assignment of contract. A legally binding purchasing contract with memorandum has been signed with the Seller giving this company exclusive rights to purchase the property. This company does not represent the owner. We are NOT brokers and do not represent ourselves as such. DO NOT CONTACT THE OWNER/SELLER without our explicit consent. Any attempts to renegotiate or make contact with the owner will result in legal action.