304 S Orange Ave, Newark City, NJ 07103
- $990,000
- List Price
- $990,000
- Price Change
- ▲ $891,000 1785353095
- Days on Market
- 2
- Status
- ACTIVE
- MLS#
- 4043437
- Lot Size (Acres)
- 0.08
- Year Built
- 1920
Property Description
Rare mixed-use investment opportunity on high-traffic S Orange Avenue in Newark's established West Side corridor.This well-maintained brick building offers two street-level commercial spaces plus four residential units ideal for anowner-user or pure income investor. Kitchens and baths updated within the last 10 years. Additional storage inbasement and private paved backyard. Separate utilities. Gross monthly income of $10,700. Priced at a compelling8.0% cap rate one of the strongest going-in yields available in Essex County today. Minutes to downtown Newark,NJ Transit, and major highways. REO (bank-owned) property. Seller is in the process of securing access to all units. All offers accepted subject tofull physical inspection contingency, to be scheduled once interior access is obtained. Buyer's due diligenceperiod commences upon written confirmation of unit access. Property sold strictly AS-IS. Seller will make norepairs. All income figures must be independently verified by Buyer. Proof of funds or pre-qualification requiredprior to showing. Do not disturb tenants.
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Additional Information
- Area
- Newark City
- Basement Desc
- Storage
- Utilities
- Electric, Gas-Natural
- Taxes
- $11,125
- Exterior
- Brick/Block
- Lot Description
- Corner
- Water
- Public Water
- Basement
- Yes
- Cooling
- Window A/C(s)
- Roof
- See Remarks
- Show Address
- Yes
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Listing Courtesy Of KELLER WILLIAMS - NJ METRO GROUP, Contact: 973-783-7400
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