901-903 S 16th ST Active Save Request In-Person Tour Request Virtual Tour
Newark,NJ 07108
Key Details
Property Type Multi-Family
Sub Type 2 Family
Listing Status Active
Purchase Type For Sale
Square Footage 3,621 sqft
Price per Sqft $247
MLS Listing ID 2604868R
Year Built 2020
Annual Tax Amount $1
Tax Year 2023
Lot Size 3,497 Sqft
Acres 0.0803
Lot Dimensions 100.00 x 35.00
Property Sub-Type 2 Family
Source CJMLS API
Property Description
Built in 2020, this modern multi-unit offers both immediate rental income and future potential. Currently configured as a legal two-unit and zoned with permits approved for three-unit use, this property is ideal for investors or owner-occupants. Unit 1 is vacant and includes access to the basement, which has the potential to be converted into a third legal unit with construction plans included. Unit 2 is tenant-occupied, generating $2,600 per month, including $100 for driveway parking. One year of tax abatement remains, providing reduced expenses and more substantial cash flow. Additional features include an oversized garage with off-street parking, newer construction w/updated systems and modern finishes, and a prime Newark location near schools, shopping & public transportation to NYC.
Location
State NJ
County Essex
Interior
Interior Features Unit 1(Dining Room,4 Bedrooms,Kitchen,Laundry Hookup,1 1/2 Baths,2+ Baths,Den/Family Room),Unit 2(Dining Room,3 Bedrooms,Kitchen,Laundry Hookup,1 1/2 Baths,2+ Baths,Den/Family Room)
Heating Forced Air
Cooling A/C Central - All,A/C Multi-Zone,Unit 1(A/C Central),Unit 2(A/C Central)
Window Features Screen/Storm Window
Appliance Water Heater(Gas),Water Heater,Unit 1(Range/Oven,Refrigerator),Unit 2(Range/Oven,Refrigerator)
Heat Source Natural Gas
Exterior
Exterior Feature Patio,Screen/Storm Window,Yard
Garage Spaces 2.0
Utilities Available Electricity Connected,Natural Gas Connected
Roof Type Asphalt
Porch Patio
Building
Lot Description Near Shopping,Near Public Transit
Story 3
Sewer Public Sewer
Water Public
Others
Senior Community no
Tax ID 1403012000000037
Ownership Fee Simple
Energy Description Natural Gas