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643 N 5Th St

Newark City, NJ 07107
  • $499,000
  • STATUS: Active Under Contract
  • ON SITE: 254 Days
  • MLS #: 3859171
Under Contract
$499,000
  • 6
    BEDS
  • 0.06
    ACRES
  • 3
    BATHS
  • 0
    1/2 BATHS
  • 3,234
    SQFT
  • $154
    $/SQFT
Type:
Multi-Family
Built:
1907
County:
Area:

School Ratings & Info

Description

Presenting a fantastic opportunity for savvy investors and those seeking a versatile, three unit income-generating property in a prime Newark location. This property is ideally situated in a vibrant neighborhood, it boasts proximity to Branch Brook Park, Newark Schools Stadium, and one block from the Davenport Ave Light Rail Station. With easy access to local amenities, restaurants and shops. This legal three-unit property features three separate units, each comprising 2 bedrooms and 1 bathroom. Ideal for accommodating tenants or creating a comfortable living space for an owner-occupant. All three units boast spacious kitchens, inviting living areas, and dedicated dining spaces, ensuring a comfortable and attractive environment for residents. The property features a desirable balcony with the third unit, perfect for unwinding and enjoying the surroundings. Additionally, a nicely sized backyard provides a great opportunity for outdoor activities, gardening, or simply enjoying the fresh air. Whether you're looking to maximize rental income from all three units or plan to live in one unit while generating rental income from the others, this property presents a compelling investment opportunity. Don't miss the chance to own a three-unit property in a sought-after Newark neighborhood. Schedule a viewing today to see the potential and value that this property offers!

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Garden State MLS logo © 2024 Garden State Multiple Listing Service, LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or The Dekanski Home Selling Team :: RE/MAX 1st Advantage. Notice: The dissemination of listings on this website does not constitute the consent required by N.J.A.C. 11:5.6.1 (n) for the advertisement of listings exclusively for sale by another broker. Any such consent must be obtained in writing from the listing broker.The data relating to real estate for sale or lease on this web site comes in part from GSMLS. Real estate listings held by brokerage firms other than The Dekanski Home Selling Team :: RE/MAX 1st Advantage are marked with the GSMLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. Data last updated 2024-04-18T12:23:44.723.
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643 N 5Th St Newark City, NJ 07107

  • Price: $499,000
  • Status: Active Under Contract
  • On Site: 254 Days
  • MLS #: 3859171
6
Beds
3
Baths
0
½ Baths
0.06
Acres
3,234
SQFT
$154
$/SQFT
1907
Built
County:
Essex
Area:
Newark City
Property Description
Presenting a fantastic opportunity for savvy investors and those seeking a versatile, three unit income-generating property in a prime Newark location. This property is ideally situated in a vibrant neighborhood, it boasts proximity to Branch Brook Park, Newark Schools Stadium, and one block from the Davenport Ave Light Rail Station. With easy access to local amenities, restaurants and shops. This legal three-unit property features three separate units, each comprising 2 bedrooms and 1 bathroom. Ideal for accommodating tenants or creating a comfortable living space for an owner-occupant. All three units boast spacious kitchens, inviting living areas, and dedicated dining spaces, ensuring a comfortable and attractive environment for residents. The property features a desirable balcony with the third unit, perfect for unwinding and enjoying the surroundings. Additionally, a nicely sized backyard provides a great opportunity for outdoor activities, gardening, or simply enjoying the fresh air. Whether you're looking to maximize rental income from all three units or plan to live in one unit while generating rental income from the others, this property presents a compelling investment opportunity. Don't miss the chance to own a three-unit property in a sought-after Newark neighborhood. Schedule a viewing today to see the potential and value that this property offers!
Exterior Features

Approximate Lot Size 25X100 Color Of Building Beige Exterior Description Aluminum Siding Exterior Features DeckMetal FencePatioPrivacy FenceSidewalkStorm Window(s) Garage Description On-Street Parking Lot Description Level Lot Number Of Parking Spaces 0 Parking Driveway Description On-Street Parking Roof Description Asphalt Shingle

Interior Features

Basement Yes Basement Description Bilco-Style DoorFullUnfinished Cooling Window A/C(s) Heating 1 UnitBaseboard - HotwaterRadiators - Steam Interior Features BlindsCarbon Monoxide DetectorFire ExtinguisherHigh CeilingsSmoke DetectorTile FloorsVinyl-Linoleum FloorsWood Floors Total Number Of Rooms 14 Unit1 Appliances Equipment Carbon Monoxide DetectorRange/Oven - GasRefrigeratorSmoke Detector Unit1 Baths 1.0 Unit1 Bedrooms 2 Unit1 Fireplaces 0 Unit1 Handicap Modified No Unit1 Levels 1 Unit1 Room Description BedroomsDining RoomKitchenLiving Room Unit1 Rooms 4 Unit1 Security Deposit 0 Unit1 Sq Ft 0 Unit2 Appliances Equipment Carbon Monoxide DetectorRange/Oven - GasRefrigeratorSmoke Detector Unit2 Baths 1.0 Unit2 Bedrooms 2 Unit2 Fireplaces 0 Unit2 Levels 1 Unit2 Room Description BedroomsDining RoomKitchenLiving Room Unit2 Rooms 5 Unit2 Sq Ft 0 Unit3 Baths 1.0 Unit3 Bedrooms 2 Unit3 Fireplaces 0 Unit3 Levels 1 Unit3 Room Description BedroomsDining RoomKitchenLiving RoomPorch Unit3 Rooms 5 Unit3 Sq Ft 0

Property Features

Assessment Total 196000 Building Assessment 148500 Easement Unknown Fha Age Restricted No Fuel Type ElectricGas-Natural Gross Operating Income 0 Land Assessment 47500 Net Operating Income 0 Sewer Public Sewer Tax Amount 7323 Tax Rate Amount 3.736 Tax Rate Year 2022 Tax Year 2022 Total Operating Expense 0 Unit Style 3-Three Story Unit1 Owner Tenant Pays Owner Pays GasOwner Pays HeatOwner Pays WaterTenant Pays Electric Unit1 Rent 600 Unit2 Handicap Modified No Unit2 Owner Tenant Pays Owner Pays GasOwner Pays HeatOwner Pays WaterTenant Pays Electric Unit2 Rent 1200 Unit2 Security Deposit 1200 Unit3 Handicap Modified No Unit3 Owner Tenant Pays Owner Pays ElectricOwner Pays GasOwner Pays HeatOwner Pays Water Unit3 Rent 0 Unit3 Security Deposit 0 Utilities ElectricGas-Natural Water Public Water Water Heater Gas Year Built Description Approximate

Listing information © 2024 Garden State Multiple Listing Service,LLC.
Listing provided courtesy of : 410-422-4999.


Garden State MLS logo © 2024 Garden State Multiple Listing Service, LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or The Dekanski Home Selling Team :: RE/MAX 1st Advantage. Notice: The dissemination of listings on this website does not constitute the consent required by N.J.A.C. 11:5.6.1 (n) for the advertisement of listings exclusively for sale by another broker. Any such consent must be obtained in writing from the listing broker.The data relating to real estate for sale or lease on this web site comes in part from GSMLS. Real estate listings held by brokerage firms other than The Dekanski Home Selling Team :: RE/MAX 1st Advantage are marked with the GSMLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. Data last updated 2024-04-18T12:23:44.723.
 
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The Dekanski Home Selling Team :: RE/MAX 1st Advantage
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Colonia NJ, 07067