297 S 7th St,Newark City, NJ 07103
Newark City, NJ 07103
Description
This gem is the perfect addition to your investment portfolio with this rare multi-family property featuring two separate structures on one expansive lot. The front building offers a three-family layout, while the rear structure houses an additional two-unit structure, providing a total of five units. Four units are currently occupied with stable tenants, generating immediate income. One unit requires rehab, offering value-add potential for increased future returns. Equipped with separate utilities and a large fenced in yard. Perfect for a seasoned investor or buyer searching for their first multi-family acquisition. This property delivers strong cash flow, upside potential, and long-term stability. Close to mass transportation making a commute into Downtown Newark and into NYC a breeze. Minutes to Rutgers Hospital, Rutgers Newark and NJIT.
Details
| MLS # | 4002283 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Under Contract |
| Year | 1920 |
| Days On Site | 274 |
| Listing Provided By | MONARCH REALTY & ASSOCIATES | KHADIJAH CAESAR |
Features
| Basement | Y |
|---|---|
| Story(s) | 3 |
| Units | 5 |
| Zoning | Res |
Taxes
| Property | 10880 |
|---|
Area Information
| State | NJ |
|---|---|
| County | Essex |
| City | Newark City |
| Zip Code | 07103 |
| Area | Essex |
| Listing VS Median (in 07103) | |
Price: $795,000 low | high Med: $2,400 On site: 274 low | high Med: 58 | |
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: $795,000 low | high Med: $2,400 On site: 274 low | high Med: 58 | |
