304 S Orange Ave,Newark City, NJ 07103
Newark City, NJ 07103
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.
Details
| MLS # | 4043437 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1920 |
| Days On Site | 70 |
| Listing Provided By | KELLER WILLIAMS - NJ METRO GROUP | CHERYL DARMANIN |
Features
| Basement | Y |
|---|---|
| Story(s) | 3 |
| Units | 6 |
| Zoning | Mixed-Use |
Taxes
| Property | 11125 |
|---|
Area Information
| State | NJ |
|---|---|
| County | Essex |
| City | Newark City |
| Zip Code | 07103 |
| Area | Essex |
| Listing VS Median (in 07103) | |
Price: $990,000 low | high Med: $2,350 On site: 70 low | high Med: 100.5 | |
Market Activity 07103
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Learn More About This Property
| State | NJ |
|---|---|
| County | Essex |
| City | Newark City |
| Zip Code | 07103 |
| Area | Essex |
| Listing VS Median (in 07103) | |
Price: $990,000 low | high Med: $2,350 On site: 70 low | high Med: 100.5 | |
