901-903 S 16th ST Open House Save Request In-Person Tour Request Virtual Tour
Newark,NJ 07108
OPEN HOUSE
Sat Aug 23, 11:30am - 1:30pm
Key Details
Property Type Multi-Family
Sub Type 2 Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 25029698
Style 2 Family
Full Baths 4
Half Baths 1
Property Sub-Type 2 Family
Property Description
Built in 2020, this modern multi-unit offers both immediate rental income and future potential. Currently configured as a legal two-unit and zoned with permits approved for three-unit use, this property is ideal for investors or owner-occupants. Unit 1 is vacant and includes access to the basement, which has the potential to be converted into a third legal unit with construction plans included. Unit 2 is tenant-occupied, generating $2,600 per month, including $100 for driveway parking. One year of tax abatement remains, providing reduced expenses and more substantial cash flow. Additional features include an oversized garage with off-street parking, newer construction with updated systems and modern finishes, and a prime Newark location near schools, shopping, major highways, and public transportation to New York City. This is a rare opportunity to purchase a low-maintenance property with existing rental income and significant upside for long-term value and appreciation.
Location
State NJ
County Essex
Interior
Laundry In Unit
Exterior
Garage Spaces 2.0