337 S 19th St Active Save Request In-Person Tour Request Virtual Tour
Newark City,NJ 07103
Key Details
Property Type Multi-Family, Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 3931361
Style 3-Three Story
Bedrooms 8
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 with 2/3/3-bed, a spacious basement, and low taxes offers significant investment potential. First-floor unit includes an option to add an additional room facing the front of the home. The property, sold without parking, does not include the rear lot on the left hand side. Full renovation, estimated at $200-250K depending on scope, allows for customization with an opportunity to add 2 bathrooms per unit and an additional one in the basement, creating a new-build construction appeal. Second-floor unit has the option to add 4 bedrooms, walk-in closet, or bathroom toward the front, maximizing the layout.Projected rental income ranges from $2,000 to $2,500 per unit. Located in the 07103 zip code, this property sits close to Rutgers and NJIT campuses, downtown Newark, and major transit routes, including links to NYC, I-78, Garden State Parkway, US-22, and Newark Airport. This makes it an ideal cash-flow property for investors or an opportunity for homeowners to build equity while tenants cover the mortgage.This property is sold "AS IS and requires cash, conventional, hard money, or FHA 203k renovation loan financing. A temporary Certificate of Occupancy has been obtained. Daytime viewings only are recommended due to lack of electricity and use a flashlight, every buyer must sign hold harmless agreement before entry due to the property's current condition. Don't miss out on this exceptional investment opportunity in a prime Newark location.
Location
State NJ
County Essex
Zoning R3
Rooms
Basement Unfinished
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 On-Street Parking
Utilities Available All Underground
Roof Type Asphalt Shingle
Parking Type On-Street Parking
Building
Lot Description Level Lot
Sewer Public Available, Public Sewer
Water Public Water
Architectural Style 3-Three Story
Schools
Elementary Schools 13Th Ave
Middle Schools 14Th Ave
High Schools West Side
Others
Senior Community No