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Listed by Cynthia Lubin Compass New Jersey, LLC-Montclair
$650,000
Est. payment /mo
8 Beds
3 Baths
UPDATED:
Key Details
Property Type Multi-Family
Sub Type 3 Family
Listing Status Under Contract
Purchase Type For Sale
MLS Listing ID 26015683
Style 3 Family
Bedrooms 8
Full Baths 3
Property Sub-Type 3 Family
Property Description
Excellent cash flow opportunity in Newark's high-demand Weequahic section. This 16-room, 3-family residence offers immediate income potential with clear built-in upside for a buyer ready to update and reposition. Two units can be delivered vacant, providing flexibility to owner-occupy while maximizing rental income. The second floor offers stable income with a tenant in place through October 2027, along with a near-term opportunity to reposition rents to market. With cosmetic updates and lease turnover, projected gross rents range from $6,500 to $7,000 per month. Separate utilities, full unfinished basement, and a location that checks every box: Weequahic Park, Beth Israel Medical Center, and Newark Liberty International Airport all nearby with easy access to major transit routes. Please note: Sold as-is. Buyer responsible for Newark Certificate of Code Compliance and DCA Green Card.
Location
State NJ
County Essex
Interior
Laundry None
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