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$2,495,000
Est. payment /mo
11,724 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 11,724 sqft
Price per Sqft $212
MLS Listing ID 3957601
Year Built 1940
Annual Tax Amount $23,403
Tax Year 2024
Lot Size 2,178 Sqft
Property Description
Incredible investment opportunity in the heart of University Heights, Newark! This package deal includes four fully occupied 3-family homes (total of 12 units) all located within the same block:1-37 Jay St (Block 2850 Lot 22)2-39 Jay St (Block 2850 Lot 23)3-46 Hudson St (Block 2850 Lot 33)4-46 Hudson St (Block 2850 Lot 35)The four properties are fully occupied with long-term tenants. All buildings are in good-average condition with low maintenance costs and low property taxes, making this a turnkey cash-flowing asset in one of Newark's fastest-growing neighborhoods.Attractive current gross income with further upside through rent optimization. Sold strictly as-is, this package is ideal for investors or 1031 exchange buyers seeking stability and scale. Cap rate to be calculated based on GOI.This is a rare chance to own a high-density, income-producing portfolio all in one block steps from universities, transportation, and new development.
Location
State NJ
County Essex
Zoning Res
Rooms
Basement Unfinished
Interior
Heating Electric, Gas-Natural
Cooling No Cool
Equipment See Remarks
Heat Source Electric, Gas-Natural
Exterior
Exterior Feature Vinyl Siding
Utilities Available Electric, Gas-Natural
Roof Type Asphalt Shingle, Flat
Building
Story 3
Sewer Public Sewer
Water Public Water
Others
Ownership Fee Simple
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