337 S 19th St new 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 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