Property

Newark City, NJ 07107 643 N 5Th St

Pending
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Presented By: COMPASS NEW JERSEY, LLC; 410-422-4999
  • MLS# 3859171
  • 08/10/2023
  • Request Tour
  • Request Info
  • Beds • 6
  • Baths • 3
  • SQFT • 3,234

Home Details

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!
Presented By: COMPASS NEW JERSEY, LLC; 410-422-4999

Interior Features for 643 N 5Th St

Bedrooms

Total Bedrooms6
Unit 1 Beds Total2
Unit 2 Beds Total2
Unit 3 Beds Total2

Bathrooms

Full Baths3
Half Baths0
Unit 1 Baths Total1.0
Unit 2 Baths Total1.0
Unit 3 Baths Total1.0

Other Interior Features

Unit 1 Sq Ft0
Unit 2 Sq Ft0
Unit 3 Sq Ft0
Unit 1 Levels1
Unit 2 Levels1
Unit 3 Levels1
UnitType1TotalRent600
UnitType2TotalRent1200
UnitType3TotalRent0
Unit 3 Fireplaces0
Unit 3 Handicap ModifiedNo
Unit 2 Handicap ModifiedNo
Unit 2 Fireplaces
Unit 1 Fireplaces
Unit 1 Handicap ModifiedNo
Unit 1 Appl/EquipCarbon Monoxide Detector, Range/Oven - Gas, Refrigerator, Smoke Detector
Unit 2 Appl/EquipCarbon Monoxide Detector, Range/Oven - Gas, Refrigerator, Smoke Detector
Unit 3 Appl/EquipCarbon Monoxide Detector, Range/Oven - Gas, Refrigerator
BasementBilco-Style Door, Full, Unfinished
Fuel TypeElectric, Gas-Natural

Other Rooms

Unit 2 Rooms5
Unit 1 Rooms4
Unit 3 Rooms5
Unit 3 Room DescriptionBedrooms, Dining Room, Kitchen, Living Room, Porch
Unit 1 Room DescriptionBedrooms, Dining Room, Kitchen, Living Room
Unit 2 Room DescriptionBedrooms, Dining Room, Kitchen, Living Room

General for 643 N 5Th St

Architectural Style3-Three Story
CoolingWindow A/C(s)
CountyEssex
Days on Market22
DirectionsBloomfield Ave to N 5th St
DriveOn-Street Parking
EasementUnknown
Exterior FeaturesDeck, Metal Fence, Patio, Privacy Fence, Sidewalk, Storm Window(s)
GarageOn-Street Parking
Gross Income
Heating1 Unit, Baseboard - Hotwater, Radiators - Steam
Interior FeaturesBlinds, Carbon Monoxide Detector, Fire Extinguisher, High Ceilings, Smoke Detector, Tile Floors, Vinyl-Linoleum Floors, Wood Floors
Net Operating Income
NumberOfUnitsTotal3
Open Parking Spaces
Operating Expense0
PossessionP.O.A
RoofAsphalt Shingle
SewerPublic Sewer
Standard StatusUnder Contract
StatusUnder Contract
Tax Annual Amount7323
Tax Assessed Value196000
Tax Lot31
Tax Year2022
Total Rooms14
Town #1614
TownshipNewark City
UtilitiesElectric, Gas-Natural
Water HeaterGas
Year Built1907

Exterior for 643 N 5Th St

Building Area Total3234
Exterior DescriptionAluminum Siding
Lot Dimensions25X100
Lot FeaturesLevel Lot
Lot Size Acres0.06
Water SourcePublic Water

Additional Details

Price History

Derrick Sims

Associate
Price $499,000
MLS#3859171
List Date 08/10/2023
Property Type Pending
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