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$ 950,000
Est. payment /mo
Active
67 Broadway Newark City, NJ 07104
1,742 Sqft Lot
UPDATED:
11/13/2024 10:27 PM
Key Details
Property Type Single Family Home
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID 3934175
Year Built 1920
Annual Tax Amount $9,586
Tax Year 2023
Lot Size 1,742 Sqft
Property Description
Discover a highly desirable mixed-use property just five blocks from the heart of downtown, offering excellent rental income at 7.25% CAP Rate and long-term leases. This property is ideal for investors looking for a steady revenue stream with growth potential!Commercial Space (1st Floor): Spacious commercial area with a basement, currently leased for $2,570 per month with a secure 10-year lease and a 3% annual rent increase. This setup ensures reliable income with a growth trajectory for years to come.Residential Units:2nd Floor: Fully renovated 4-bedroom, 1-bathroom apartment with a lease in place. Enjoy $2,550 in monthly rent for this renovated unit, offering a comfortable living space for tenants.3rd Floor: 3 bedrooms, 1-bathroom unit renting at $2,000 per month.Additional Highlights:No on-site parking, but conveniently located just a short five-block walk to downtown.
Location
State NJ
County Essex
Zoning no
Rooms
Basement Finished-Partially, Full
Interior
Heating Gas-Natural
Cooling 3 Units
Equipment See Remarks
Heat Source Gas-Natural
Exterior
Exterior Feature Vinyl Siding
Utilities Available See Remarks
Roof Type Asphalt Shingle
Building
Story 3
Sewer Public Sewer
Water Public Water
Others
Ownership Fee Simple
Information deemed reliable but not guaranteed. Copyright © 2024 Garden State Multiple Listing Service, L.L.C. All rights reserved.
Listed by CHRISTIE'S INT. REAL ESTATE GROUP