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$ 795,000
Est. payment /mo
Under Contract
297 S 7Th St Newark City, NJ 07103
4,800 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Under Contract
Purchase Type For Sale
Square Footage 4,800 sqft
Price per Sqft $165
MLS Listing ID 4002283
Year Built 1920
Annual Tax Amount $10,880
Tax Year 2024
Lot Size 4,791 Sqft
Property Description
This gem is the perfect addition to your investment portfolio with this rare multi-family property featuring two separate structures on one expansive lot. The front building offers a three-family layout, while the rear structure houses an additional two-unit structure, providing a total of five units. Four units are currently occupied with stable tenants, generating immediate income. One unit requires rehab, offering value-add potential for increased future returns. Equipped with separate utilities and a large fenced in yard. Perfect for a seasoned investor or buyer searching for their first multi-family acquisition. This property delivers strong cash flow, upside potential, and long-term stability. Close to mass transportation making a commute into Downtown Newark and into NYC a breeze. Minutes to Rutgers Hospital, Rutgers Newark and NJIT.
Location
State NJ
County Essex
Zoning Res
Rooms
Basement Unfinished
Interior
Heating Gas-Natural
Cooling Window A/C(s)
Flooring Carpeting, Laminate
Equipment Smoke Detector
Heat Source Gas-Natural
Exterior
Exterior Feature Vinyl Siding
Utilities Available Gas-Natural
Roof Type Asphalt Shingle
Building
Lot Description Corner
Story 3
Sewer Public Sewer
Water Public Water
Others
Ownership Fee Simple
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Listed by MONARCH REALTY & ASSOCIATES