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    525 Central Avenue

    Newark, NJ 07107
    • $2,300,000
    • STATUS: Active
    • ON SITE: 233 Days
    • MLS #: 22106736
    UPDATED: 62 min ago
    $2,300,000
    • 0
      BEDS
    • 0.11
      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 2021-10-28T13:19:52.183.
    www.candiesellshomes.com/homes/114872722
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    525 Central Avenue Newark, NJ 07107

    • Price: $2,300,000
    • Status: Active
    • Updated: 62 min ago
    • MLS #: 22106736
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.11
    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 Lot Dimensions 50 X 100 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 Land 85000.00 Assessment Status Assessed Assessment Total 470000.00 Deed Restrictions No Improvements Assessment 385000.00 Multifamily Type Multiple Buildings New Construction No Owner Individual(s) Tax Year 2020 Taxes 17860.00 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 2021-10-28T13:19:52.183.
     
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    The CG Group | RE/MAX Revolution
    2101 Hwy 34, Suite B
    Wall NJ, 07719