NJ
Essex
Newark City
07103
539-541 18Th Ave
539-541 18Th Ave, Newark City, NJ 07103
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Listing Type
Multi Family
Listing Status
Active
49
$899,500

Home Details for 539-541 18Th Ave

Price
$899,500
Type
Residential Income
Bedrooms
9
Bathrooms
4.0
Square feet
NaN
Year built
1930
Lot size acres
0.07
County
Essex
Total rooms
17
Garage
Basement
Unfinished, Walk-Out Access
Days on site
3
MLS Listing#
4011619
Property Description

Spacious 4 family corner property located opposite West Side Park in the desirable 07103 section of Newark. Features a 2/2/2/3 bedroom layout with 3 fully renovated 2 bedroom apartments showcasing modern kitchens, bathrooms, appliances and hardwood flooring throughout. The property is currently generating approximately $10,000 per month from the three renovated units. The remaining 3-bedroom unit requires renovation, presenting a strong value-add opportunity with projected gross income of approximately $15,000 per month once completed. Separate laundry, utilities, and mechanical units for each apartment provides efficiency and ease of management. The basement offers additional upside potential for possible conversion into two additional units (subject to municipal approval), or alternatively for laundry facilities, tenant storage, or bonus rooms to further enhance income. Ideal for investors seeking stable cash flow with future appreciation or an owner-occupant looking to offset their mortgage with rental income. Perfect for short-term rental strategy (subject to local regulations) or long-term hold. Conveniently located near the Garden State Parkway, Route 280, and major transportation routes with easy access to NJ Transit, Newark Penn Station, Newark Liberty International Airport, NJPAC, The Newark Museum of Art, Rutgers University, University Hospital, and NJIT. This building may qualify for a grant to assist with down payment or closing costs via our approved lenders.

Property Features
  • Basement
    • Unfinished
    • Walk-Out Access
  • Heating Information
    • Natural Gas
  • Water Features
    • Public
  • Utilities
    • Underground Utilities
Listing Courtesy: RE/MAX FIRST REALTY II - 908-664-1500
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EXIT PLATINUM REALTY
200 Claremont Ave, Montclair, NJ 07042
John Johnson III
Franchisee
Office
973 746 4777
Agent
908 338 0639
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