Address
426-428 3rd Ave West, Newark City, NJ
Price
$ 649,500
Property Attributes
  • MLS#3903854
  • TypeMulti-Family
  • CountyESSEX
  • CityNewark City
  • AreaNewark City
  • Zip07102
  • Style3-Three Story
  • Year Built1926
  • Taxes$ 9364
  • Price$ 649,500
  • Bedrooms8
  • Full Bathrooms4
  • Half Bathrooms0
  • Lot Size0.09 Acres
Data Source:
Garden State MLS (GSMLS)
Property Description

Calling All Investors!! Welcome to an exceptional investment opportunity in the heart of Newark, NJ! This recently renovated multifamily property located at 426-428 3rd Ave West offers a lucrative option for both investors and homeowners looking to generate rental income. Situated on a residential street, this property boasts modern amenities, ample parking, and a charming backyard, making it an ideal choice for those seeking a profitable real estate venture. Enjoy the outdoors in the property's charming backyard, perfect for relaxing or entertaining during warmer months. The space offers a private retreat in the midst of the city, adding value and appeal to the property. Income Potential With a great rent roll already in place, this property offers immediate income potential for investors with a full finish basement and attic. Alternatively, buyers can choose to live in one unit and rent out the other, providing an opportunity to offset mortgage expenses and build equity. Don't Miss Out! This meticulously maintained multifamily property offers a rare chance to invest in Newark's thriving real estate market. Whether you're an experienced investor or a first-time buyer looking to maximize your investment, 426-428 3rd Ave West presents a compelling opportunity. Schedule a showing today and discover the potential of this turnkey investment property! More Photo's to Come!!!

Price History
5/25/2024 Listed $649,500

General Features

Sewer Public Sewer
Heating See Remarks
Cooling Window A/C(s)
Possession TBD
Roof Asphalt Shingle,See Remarks
Garage Spaces 2
Architectural Style 3-Three Story
Exclusions Owner Personal Property
Year Built 1926
Garage Attached Garage
Township Newark City
Easement Unknown
Tax Year 2023
Gross Income 999
County Essex
Net Operating Income 999
Operating Expense 999
Total Rooms 13
Status Active
Directions Park to N 9th to 3rd Ave West/ West Market-Roseville Ave to 3rd Ave West
Open Parking Spaces 2
NumberOfUnitsTotal 2
Tax Annual Amount 9364
Home Warranty Y/N No
Drive 1 Car Width,Blacktop,See Remarks
Days on Market 19
Standard Status Active
Tax Assessed Value 251200
Town # 1614
Tax Lot 2
Farm Assessment No

Interior Features

Basement Finished,Full
Unit 2 Rooms 6
Unit 1 Rooms 5
Unit 1 Room Description Bedrooms,Kitchen,Living Room,Pantry,See Remarks
Unit 2 Room Description Bedrooms,Dining Room,Kitchen,Living Room
Unit 1 Sq Ft 999
Unit 2 Sq Ft 999
Unit 1 Baths Total 1.0
Unit 1 Beds Total 2
Unit 2 Baths Total 1.0
Unit 2 Beds Total 3
Fuel Type See Remarks
Unit 1 Levels 1
Unit 2 Levels 1
Full Baths 4
Total Bedrooms 8
UnitType1TotalRent 999
UnitType2TotalRent 999
Unit 2 Handicap Modified No
Unit 1 Handicap Modified No
Unit 1 Appl/Equip Carbon Monoxide Detector,Range/Oven - Gas
Unit 2 Appl/Equip Carbon Monoxide Detector,Range/Oven - Gas

Exterior Features

Water Source Public Water
Exterior Description Composition Shingle,Vinyl Siding
Lot Dimensions 40X100
Lot Size Acres 0.09

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Multi-Family Average in 07102

Price
AVG $850K
$650K
Taxes
AVG $12,245
$9,364
Visits
AVG 59
117
Data Provided by Inside Real Estate®
Year Built
AVG 1989
1926