ListWithoutRealtor Group

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.

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Property Details

  • Price: $895,000
  • Bedrooms:7
  • Class:2-4 Family
  • Floodzone:None
  • Rooms:11
  • Property Status: Status For Sale
  • Property Type: ,
  • Amenities and Features

    Features
  • Laundry:In Unit
  • Location

  • Address901-903 16th Street,Newark, NJ 07108
  • Postal code07108
  • CountryESSEX, Newark
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