Call Robin at 973-692-8013 for viewings or more information. Welcome to Newark's Renaissance! This red brick jewel sits at the edge of Newark's historic Lincoln Park. This property opens up to a vestibule where you will find two identical apartments on either side both featuring two levels. Level one has a kitchen with a quaint eating area, main bath and a bedroom. As you make your way down the spiral staircase to the lower level you will find a living area and a second, bigger bedroom. Access to the apartment can be gained from both levels. The third and fourth apartments have their own levels on the second and third floors and are identical. They feature: a bedroom to the immediate left. To the right is an open concept living room/ dining room combo that opens up to the kitchen. To the rear are 2 additional bedrooms and the main bath. Great investment opportunity. This property is unique and provides many opportunities to maximize your net operating income potential. This is a prime location in that it is commuter friendly...Ideal location for those who work in the city and look for the city vibe without paying NYC taxes. Located just 15 minutes walking distance to Penn Station. Also close to all that Downtown Newark has to offer such as Entertainment, some of the best eateries and restaurants Newark has to offer, arts and craft shops houses of worship, education facilities and so much more. This is a great opportunity as a first time owner occupant investment property or for someone who is stickily looking for a property that generates great income. Per month (GOI)or Gross Operating Income is $4,300. (TOE)or Total Operating Expenses are $1,100 leaving the (NOI) or Net Operating Income at $3,200. AND, the taxes are ONLY $5,293...Not bad right?! There are two two bedrooms and two three bedrooms. One of each is Vacant for easy show. The occupied two bedroom is paying $900; the market supports a $100 increase making the rent $1000. The occupied three bedroom is paying $1250; the market supports a $50 increase making the rental income for that unit $1,300. Call Robin Directly at 973-692-8013 for viewing or for more information.
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
