1878 Springfield Ave Active Save Request In-Person Tour Request Virtual Tour
Maplewood Twp.,NJ 07040
Key Details
Property Type Single Family Home
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 6,000 sqft
Price per Sqft $266
MLS Listing ID 3932584
Year Built 1927
Annual Tax Amount $42,841
Tax Year 2023
Lot Size 4,791 Sqft
Property Description
Fantastic opportunity to own a mixed-use building in Maplewood's highly sought-after commercial area is now available for purchase. Separately metered, this 6,000 sq ft, multi-tenant investment property comes 100% leased with 2 long-term storefront tenants with annual rental increases, 4 residential apartments and comes with 4 parking spots and finished basement. Located on a busy, high visibility street - first level includes a well-known restaurant and a nail salon. Second level has 3 two-bedroom apartments and 1 studio apartment (some units currently still leased below market value). Close in proximity to the Maplewood business district, charming Maplewood downtown, parks and Maplewood Country Club; just minutes of GSP and Rt 78, less than 10 miles away from Newark International Airport and within minutes from various public transportation options, this location is very commuter accessible as well as desirable. Additionally, this building comes with various upgrades and repairs completed within the last few years: new roof (2021), 3 newer hot water tanks (2021), updated bath and paint in Apt A (2021) new kitchen cabinets in Apt B (2022), entire building and basement repainted (2022), new security system/cameras (2022). Rare offerings like this don't come around too often in such prime locations, so take ownership on this one and reach out today!
Location
State NJ
County Essex
Zoning PRB
Rooms
Basement Finished-Partially, French Drain, Storage
Interior
Heating Electric, Gas-Natural
Cooling 4+ Units, Central Air
Equipment Appliances, Exhaust System, Fire Alarm, Floor Drains, Kitchen Area, Restrooms - Private, Security System, Smoke Detector
Heat Source Electric, Gas-Natural
Exterior
Exterior Feature Brick/Block, Concrete
Garage Spaces 4.0
Utilities Available Electric, Gas-Natural
Roof Type Flat, Rubberized
Building
Story 2
Sewer Public Sewer
Water Public Water
Others
Ownership Fee Simple