Two street-level commercial spacesPrivate paved backyardAdditional storage in basementWell-maintained brick building
Rare mixed-use investment opportunity on high-traffic S Orange Avenue in Newark's established West Side corridor.This well-maintained brick building offers two street-level commercial spaces plus four residential units ideal for anowner-user or pure income investor. Kitchens and baths updated within the last 10 years. Additional storage inbasement and private paved backyard. Separate utilities. Gross monthly income of $10,700. Priced at a compelling8.0% cap rate one of the strongest going-in yields available in Essex County today. Minutes to downtown Newark,NJ Transit, and major highways. REO (bank-owned) property. Seller is in the process of securing access to all units. All offers accepted subject tofull physical inspection contingency, to be scheduled once interior access is obtained. Buyer's due diligenceperiod commences upon written confirmation of unit access. Property sold strictly AS-IS. Seller will make norepairs. All income figures must be independently verified by Buyer. Proof of funds or pre-qualification requiredprior to showing. Do not disturb tenants.
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Zillow last checked:
Listing updated:
Listed by:
Cheryl Darmanin973-783-7400,
Keller Williams - Nj Metro Group,
Rashad Davis
Source: GSMLS,MLS#: 4043437
Facts & features
Interior
Bedrooms & bathrooms
Bathrooms: 6
Heating
Radiators - Hot Water, Radiators - Steam, Natural Gas
Cooling
Window Unit(s)
Features
Doors: Max Door Height: 0
Basement: Yes,Storage Space
Interior area
Total structure area: 3,484
Total interior livable area: 3,484 sqft
Property
Parking
Parking features: On-Street Parking, Paver Block
Has uncovered spaces: Yes
Features
Stories: 3
Lot
Size: 0.29 Acres
Dimensions: 60 x 209
Features: Corner Lot, Freestanding, See Remarks
Details
Parcel number: 1614009520000000160000
Zoning description: Mixed-Use
Other equipment: See Remarks
Construction
Type & style
Home type: Apartment
Property subtype: Apartment
Attached to another structure: Yes
Materials
Brick/Block
Roof: See Remarks
Condition
Year built: 1920
Utilities & green energy
Gas: Gas-Natural
Sewer: Public Sewer
Water: Public
Utilities for property: Electricity Connected, Natural Gas Connected
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Principal & interest
$1,547
Mortgage insurance
$0
Property taxes
$170
Home insurance
$105
HOA fees
$0
Utilities
Not included
All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
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