WELCOME TO THIS 18-ROOM 3-FAMILY RESIDENTIAL COMPLEX TO BE BUILT IN NORTH NEWARK! MOST SIGNIFICANT, THIS HOUSE HAS NOT BEEN BUILT. THE 3-FAMILY RESIDENTIAL COMPLEX WILL BE BUILT AND COMPLETED WITHIN THE NEXT 180 DAYS; HOWEVER, YOU CAN PURCHASE THE 3-FAMILY WITH A 203-K REHAB MORTGAGE LOAN TO BE USED TO COMPLETE THE CONSTRUCTION OF THE COMPLEX. ADDITIONALLY, YOU WILL HAVE A RENTAL INCOME OF FIVE THOUSAND DOLLARS PER MONTH! SIXTY THOUSAND [$60,000] PER YEAR TO BE USED TO HELP MAKE THE MORTGAGE PAYMENTS. THE 3-FAMILY HOUSE WILL HAVE HARDWOOD FLOORS IN ALL THREE UNITS, CARPETING IN ALL BEDROOMS, AND MARBLE FLOORS IN ALL BATHROOMS,! CENTRAL AIR & HEATING IN ALL THREE UNITS! NEW KITCHEN CABINETS! SPACIOUS FORMAL LR, DR, 9 BEDROOMS, FULLY EQUIPPED WITH TOP-OF-LINE APPLIANCES, INCLUDING A SUB-ZERO REFRIGERATOR & VIKING RANGES COMPLEMENTED BY GRANITE COUNTERS AND CENTER ISLAND W/ BREAKFAST BAR. THE STUNNING DINING AREA WITH SLIDER DOORS LEADING TO THE MAINTENANCE-FREE DECK, WHICH IS PERFECT FOR ENJOYING THE VERY PRIVATE, TRANQUIL, FULLY FENCED-IN BACKYARD! OPEN CONCEPT FLOOR PLANS! THE HOUSE WILL CONSIST OF A SPACIOUS & LUXURIOUS MBR SUITE IN EACH UNIT, A WALK-IN CLOSET, A THREE-CAR GARAGE, AND A VERY BEAUTIFUL HOME OFFICE TO OFFER FLEXIBILITY & FUNCTIONALITY FOR TODAY'S WORK-FROM-HOME LIFESTYLE! PUBLIC WATER & SEWER! DON'T MISS THE CHANCE TO CALL THIS METICULOUSLY CRAFTED 3 FAMILY RESIDENCE YOUR NEW HOME, WHERE COMFORT, STYLE, AND FUNCTIONALITY CONVERGE SEAMLESSLY!
Amazing INVESTMENT opportunity!!! Own your own SRO building in an excellent suburban Newark area, there are very few SRO's left in the area and the demand is GREAT for these money making buildings! This home has been built with strong stone foundation, in the early 19th century as a stunning mansion, with time the property obtained a single occupancy license that can accommodate twenty people/couples. They have a shared kitchen on every floor and some 5 units have their own baths. With creative TLC you can upgrade this home to 20th century vibes. As a bonus owner has drawn up an extension of over 40 additional studio units using the attached vacant lot and the back. BONUS: Vacant buildable lot attached!
Opportunity for new construction development mix unit in the North ward economic development zone. Existing structure is commercial & can be converted to mix use residential zoning with variance approval. Attractions are as follows, close to NJ Transit Light Rail System offering a 14 minute ride to Newark Penn Station, historic Branch Brook park with an annual cherry blossom festival, Branch Brook tower will be the first 40 floor building luxurious building to ever be built within the city of Newark within a minute walking distance & one mile from public golf course. Location also is zoned for a possible liquor license Upon inquiry information can be furnished to assist with liquor license. Additionally other features include adjacent towns, Belleville, Nutley & Clifton.
The median home value in Newark, NJ is $385,700. This is lower than the county median home value of $498,800. The national median home value is $338,100. The average price of homes sold in Newark, NJ is $385,700. Approximately 21.1% of Newark homes are owned, compared to 69.8% rented, while 9.11% are vacant. Newark real estate listings include condos, townhomes, and single family homes for sale. Commercial properties are also available. If you see a property you’re interested in, contact a Newark real estate agent to arrange a tour today!
Newark, New Jersey 07107 has a population of 306,247. Newark 07107 is less family-centric than the surrounding county with 21.55% of the households containing married families with children. The county average for households married with children is 30.18%.
The median household income in Newark, New Jersey 07107 is $41,335. The median household income for the surrounding county is $67,826 compared to the national median of $69,021. The median age of people living in Newark 07107 is 34.7 years.
The average high temperature in July is 86 degrees, with an average low temperature in January of 22.7 degrees. The average rainfall is approximately 47.5 inches per year, with 26.1 inches of snow per year.