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$3,900,000
Est. payment /mo
3,600 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 3,600 sqft
Price per Sqft $1,083
MLS Listing ID 3964131
Year Built 1930
Annual Tax Amount $28,522
Tax Year 2024
Lot Size 2,613 Sqft
Property Sub-Type Mixed Use
Property Description
Discover this exceptional income-producing commercial property situated prominently at the corner of Elm Street and Pacific Street in the heart of the vibrant Ironbound section of Newark. Located just 3 minutes from the Prudential Center and 5 minutes from Newark Penn Station, this mixed-use building offers unparalleled convenience and accessibility. The property features 10 total units, including 8 luxury residential apartments and 2 commercial storefronts. The residential layout includes one 1-bedroom, four 2-bedroom, and three 3-bedroom high-end apartments, all thoughtfully designed to appeal to discerning tenants. Each residential unit boasts an open-concept layout, seamlessly connecting the living room and eat-in kitchen, featuring sleek quartz countertops. These units also offer spacious bedrooms, modern bathrooms, and the convenience of an in-unit washer and dryer, with central air and forced hot air throughout. The ground floor hosts two well-established businesses: a charming flower shop and a popular restaurant, providing steady commercial income and neighborhood foot traffic. With modern finishes, a prime location, and high rental demand, this building presents a rare chance to own a well-maintained, turn-key property in one of Newark's most desirable neighborhoods. This is a perfect opportunity for investors looking for both appreciation and consistent rental income.
Location
State NJ
County Essex
Zoning 4A
Interior
Heating Electric, Gas-Natural
Cooling Central Air
Equipment Exhaust System, Smoke Detector
Heat Source Electric, Gas-Natural
Exterior
Exterior Feature Brick/Block
Utilities Available Electric, Gas-Natural
Roof Type Flat
Building
Lot Description Corner
Story 3
Sewer Public Sewer
Water Public Water
Others
Ownership Fee Simple
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