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525-527 Central Avenue

Newark, NJ 07107
  • $2,300,000
  • STATUS: Active
  • ON SITE: 233 Days
  • MLS #: 22106274
UPDATED: 56 min ago
$2,300,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Multi-Family
County:
Area:

School Ratings & Info

Description

Great investment opportunity! Mixed Use Property with 7 units - 4 residential, 3 commercial. Current NOI 136.5k with an upside to 172k. Commercial unit is leased to a daycare that just started a 7 year lease with option to continue. Residential Units are currently rented 25% under market rates and in good condition but with some capex new owner will be able to get premium rent. This property is a cash money maker with little maintenance. Tremendous upside 'by right' you can build approx. 10 more units on the property. Buyer must due his due diligence.

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© 2021 Monmouth-Ocean MLS. 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. Data is deemed reliable but is not guaranteed accurate by the MLS or The CG Group | RE/MAX Revolution. Data last updated 2021-10-25T13:19:45.003.
www.candiesellshomes.com/homes/114790363
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525-527 Central Avenue Newark, NJ 07107

  • Price: $2,300,000
  • Status: Active
  • Updated: 56 min ago
  • MLS #: 22106274
0
Beds
0
Baths
0
½ Baths
N/A
Acres
County:
Essex
Area:
Newark (NEW)
Property Description
Great investment opportunity! Mixed Use Property with 7 units - 4 residential, 3 commercial. Current NOI 136.5k with an upside to 172k. Commercial unit is leased to a daycare that just started a 7 year lease with option to continue. Residential Units are currently rented 25% under market rates and in good condition but with some capex new owner will be able to get premium rent. This property is a cash money maker with little maintenance. Tremendous upside 'by right' you can build approx. 10 more units on the property. Buyer must due his due diligence.
Exterior Features

Garage No Pool YN No Water View No Waterfront No

Interior Features

Basement Full Basement YN Yes Heat AC Other Heat Fuel Natural Gas Water Heater Propane Gas

Property Features

Assessment Status Assessed Assessment Total 0.00 Deed Restrictions No Multifamily Type Multiple Buildings New Construction No Owner Individual(s) Water Sewer Public Sewer

Listing information © 2021 Monmouth-Ocean MLS. Listing provided courtesy of Shalom Ohayon of Blue Key Realty, Llc.


© 2021 Monmouth-Ocean MLS. 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. Data is deemed reliable but is not guaranteed accurate by the MLS or The CG Group | RE/MAX Revolution. Data last updated 2021-10-25T13:19:45.003.
 
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The CG Group | RE/MAX Revolution
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Wall NJ, 07719