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Description

Incredible investment opportunity in the heart of University Heights, Newark! This package deal includes four fully occupied 3-family homes (total of 12 units) all located within the same block:1-37 Jay St (Block 2850 Lot 22)2-39 Jay St (Block 2850 Lot 23)3-46 Hudson St (Block 2850 Lot 33)4-46 Hudson St (Block 2850 Lot 35)The four properties are fully occupied with long-term tenants. All buildings are in good-average condition with low maintenance costs and low property taxes, making this a turnkey cash-flowing asset in one of Newark's fastest-growing neighborhoods.Attractive current gross income with further upside through rent optimization. Sold strictly as-is, this package is ideal for investors or 1031 exchange buyers seeking stability and scale. Cap rate to be calculated based on GOI.This is a rare chance to own a high-density, income-producing portfolio all in one block steps from universities, transportation, and new development.

Features

Heating System : 4+ Units
Cooling System : No Cool
Basement : Unfinished
Roof Deck : Asphalt Shingle, Flat
Tax Assessed Valuation: 615400
Sewer: Public Sewer
Water: Public Water

Appliances

Utilities: Electric, Gas-Natural
Internet

Additional Info

Office Name: REALTY ONE GROUP LEGEND
Office MLS ID: 189003
Agent ID: 305492
Tax: 23403
Tax Year: 2024
Application Fee: $0
Zoning: Res

Commercial For Sale

For Sale

$2,495,000

37 Jay St, Newark City, *

100 Acre
Built Year 1940

Details

Property Type: Commercial
Listing Type: For Sale
Listing ID: 5351492
Price: $2,495,000
Bedrooms: 0
Bathrooms: 0
Half Bathrooms: 0
Square Footage: 0 Sqft
Year Built: 1940
Year Built Description: Approximate
Lot Area: 100 Acre
Status: Active
Days On Market: 18

Contact Agent

Email:

wp@applicationx.net

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Map

Address Map

Country US
County Essex
City Newark City
Zipcode *
Street: Jay St
Street Number: 37
Street Direction: Sussex Ave to Jay St
Floor Number: 0
Longitude: W75° 49' 2.6''
Latitude: N40° 44' 53.3''
Internet Display Address: No