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$ 1,490,000
Est. payment | /mo
3,049 Sqft Lot
$ 1,490,000
Est. payment | /mo
3,049 Sqft Lot
Key Details
Property Type Single Family Home
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID 3955931
Annual Tax Amount $12,158
Tax Year 2024
Lot Size 3,049 Sqft
Property Sub-Type Mixed Use
Property Description
Prime Mixed-Use Investment Opportunity in the Heart of Newark! A rare, mixed-use building offering exceptional potential just moments from the University Heights district, Rutgers University, NJIT, major medical centers, and premier arts, entertainment, and business hubs, including NJPAC, Prudential Center, and the thriving Downtown Newark business district.This well-maintained, recently renovated real estate asset features two expansive residential units, each thoughtfully updated with 4 bedrooms, 2 full bathrooms, brand new central air conditioning, and forced hot air heating ideal for long-term tenants, student housing, or corporate rentals. The ground level showcases approximately 3,000 SF of open-plan commercial space, formerly operated as a lounge, featuring two bar setups and an adaptable footprint. Whether you're an investor seeking a value-add opportunity or an entrepreneur ready to bring a new concept to life, this space offers a blank canvas primed for transformation. Strategically located in a high-visibility, high-demand corridor with strong foot traffic and easy access to major transit routes, this property stands out as a versatile and attractive opportunity in one of Newark's most energetic and fast-growing neighborhoods. Key Highlights:- Ready for immediate occupancy - Two updated 4BR/2BA residential units - Approximately 3,000 SF commercial space on the ground floor - Steps from major universities, hospitals, transportation, and entertainment.
Location
State NJ
County Essex
Zoning MIX-USE
Rooms
Basement Full
Interior
Heating Gas-Natural
Cooling 3 Units, Central Air, See Remarks
Equipment Appliances, See Remarks, Smoke Detector
Heat Source Gas-Natural
Exterior
Exterior Feature Vinyl Siding
Utilities Available Gas-Natural
Roof Type Flat
Building
Lot Description Corner
Story 3
Sewer Public Available
Water Public Water
Others
Ownership Fee Simple
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Listed by BURGOS REALTY COMPANY
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