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Listing Courtesy of: 347-819-1834 - ISAIAH SPRINGER - WEICHERT REALTORS 973-376-4545

$759,999

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167 S 11TH Newark, NJ 07107

Multi-Family Residence

8 Beds

3 Baths

2,747 Sq. Ft.

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Last updated on 9/24/2024 3:18 PM

Listing Details

Welcome to an exceptional investment opportunity in the heart of Newark, NJ, offering both convenience and potential for value enhancement. This 3-family property is ideally located for commuters, with easy access to the highway, ensuring hassle-free travel for tenants.With two RECENTLY RENOVATED sp...acious 3-bedroom, 1-bathroom units and a charming 2-bedroom, 1-bathroom unit, this property presents a versatile rental opportunity. Currently boasting market rents , there's ample room for optimization. Upon delivery, one unit will be vacant, providing the perfect opportunity for immediate value addition and potential rent increase.Furthermore, one of the units merely requires slight updates, offering a straightforward path to enhancing its appeal and maximizing rental income. The 2-bedroom apartment, in particular, commands excellent rents, making it a lucrative asset within the property. Located in a thriving neighborhood with access to local amenities and transportation options, this property holds immense promise for investors. CLOSING COST PROGRAM The Closing Cost Program provides $20,000 no-interest loans to first-time homebuyers to purchase a home in Newark. Over a five-year period, 20 percent of the loan is forgiven for each full year in which the recipient has lived in the home.MUNICIPAL EMPLOYEE HOUSING ASSISTANCE PROGRAM goal is to encourage City employees to own homes in Newark. It provides $20,000 no-interest forgivable loans to purchase a home in Newark Continue reading

MLS#

3905477

Property Type

Multi-Family

Bedrooms

Bathrooms

3 Full

Year Built

1920

Square Feet

2,747 sq. ft

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