Homes for sale - 337 S 19th St, Newark City, NJ 07103

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Jeffrey Lee

cnjhometeam@gmail.com +1(732) 991-0315

$480,000

Est. payment - /mo

10 Beds

3 Baths

2,613 Sqft Lot

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UPDATED:

11/21/2024 07:11 PM

Key Details

Property Type Multi-Family, Commercial

Listing Status Active

Purchase Type For Sale

MLS Listing ID 3935506

Style 3-Three Story

Bedrooms 10

Full Baths 3

Year Built 1900

Annual Tax Amount $6,628

Tax Year 2023

Lot Size 2,613 Sqft

Property Description

Newark legal three family home in the 07103 zip code offers exceptional potential for investors or homeowners. Featuring 2/4/4 bedroom layouts, a spacious basement, and low taxes, this property is ripe for renovation, with an estimated budget of $200K-$250K allowing for full customization. The first floor unit can be expanded by adding a front-facing room or converted into a duplex by incorporating the basement, potentially creating a fourth unit for increased rental income. Second and third-floor units offer flexibility to add up to four bedrooms, walk-in closets, or additional bathrooms, maximizing tenant appeal and rental income potential. ARV $730-800K + with projected rents of $2,000-$2,500 per unit, the property can generate $8,000-$10,000+ monthly, depending on the configuration. Situated near Rutgers, NJIT, downtown Newark, and major transit routes like I-78 and Garden State Parkway, it's an ideal location for tenants. The property is sold "AS IS," accepting cash, conventional loans, hard money, or FHA 203(k) renovation loans. Empty lot on the rear is does not belong to the property. A temporary Certificate of Occupancy has been obtained & all title docs have been completed. Daytime viewings are recommended due to a lack of electricity, and a Hold Harmless Agreement is required before entry. Min $15K initial deposit and no offers under the list price will be entertained. Don't miss this opportunity schedule a viewing today! Owner holds a real estate license.

Location

State NJ

County Essex

Zoning R3

Rooms

Basement Unfinished, Walkout

Interior

Interior Features Carbon Monoxide Detector, Fire Extinguisher, Smoke Detector, Tile Floors, Vinyl-Linoleum Floors

Heating Gas-Natural

Cooling None

Heat Source Gas-Natural

Exterior

Exterior Feature Aluminum Siding

Garage None, On-Street Parking

Utilities Available All Underground

Roof Type Asphalt Shingle

Building

Lot Description Level Lot

Sewer Public Available, Public Sewer

Water Public Water

Architectural Style 3-Three Story

Others

Senior Community No

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Listed by EXP REALTY, LLC

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Jeffrey Lee

+1(732) 991-0315

Broker Associate - Team Leader | License ID: 0683786

Broker Associate - Team Leader License ID: 0683786

337 S 19th St Newark City, NJ 07103

Jeffrey Lee

Jeffrey Lee

Key Details

Location

Rooms

Interior

Exterior

Building

Others

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337 S 19th St