Investment opportunity in North Newark! Licensed rooming house with 18 units near Branch Brook Park. Grossing $133k/year and 8.4 cap rate. Ideal for steady cash flow and appreciation!
PROPERTY IS APPROVED FOR A FIVE STORY RESIDENTIAL BUILDING. 22 BEDROOMS, AND 4 ONE BEDROOMS. OPTIONAL PARKING LEVEL BUT NOT REQUIRED. APPROVED PLANS INCLUDED. CLOSE TO LIGHT RAIL TRANSPORTATION AND MAJOR HIGHWAYS. GREAT LOCATION.
Vacant lot located in the R-2 District, where it permits 1 - 3 family dwellings and townhouses. It also permits conditional low rise multi-family dwellings. There are multi-family buildings in the area. On the opposite corner of the block, there is a 3-story, 16-unit multi-family building that is currently under construction. This property can support a 3 story, 15-unit multi-family building. Close proximity to everything all major public transportation. BUYER MUST UNDERTAKE THE NECESSARY DUE DILIGENCE BEFORE SUBMITTING AN OFFER. THE POTENTIAL TO DEVELOP THE LAND IS WITHIN REACH! View and send offers asap!
Incredible opportunity to develop within Ironbound's extremely desirable market. Location is only a 4 minute car ride to Penn station or 8 minute bike ride. Transit stations with direct lines to Penn station are also within 1200 feet of the property. The City of Newark plans to build green space (Parks) across from the site. Property is close to major highways and access points near R9, I95, Harrison and Kearny.
Vacant lot. Owner received the approvals to build a 2 family house on the property, The lot is approved to BUILD a 2 family. Approved plans are available. Lot is 3,132 sq ft (31.3 by 100). Paid water connection. Close to major transportation to New Jersey Transit and Penn Station.
Vacant lot. Approved for submission Preliminary & Final Site Plan (Nov 2023 ZBA 22-60) to demolish the existing structure and construct a new three family dwelling. Lot size is 2,500 sq ft (25 by 100). The lot is right across from the hospital. Great location and great rental or sale. Close to major transportation to New Jersey Transit and Penn Station.
Welcome to an amazing shovel-ready opportunity for the serious investor! This parcel of land has been approved for a total of 30 units! 27 residential and 3 stores.
Newark is located in New Jersey. Newark, New Jersey has a population of 306,247. Newark is less family-centric than the surrounding county with 22.75% 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 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 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.