Property
Newark City, NJ 07102 587 Dr Martin Luther King J
$615,000
Pending
4 more
Presented By: TWRG REALTY GROUP; 908-355-1717
Beds • 3
Baths • 3
Home Details
This legal three-family property is a rare find in the heart of downtown Newark, a rapidly growing area experiencing a major development boom. Live in one unit and rent out the others for steady rental income while building equity in a thriving community. Surrounded by extensive redevelopment, this property offers unlimited potential in a prime location. Just minutes from the Prudential Center, premier shopping, top-rated restaurants, and both public and charter schools, it provides unmatched convenience. With easy access to Newark Penn Station, major highways, public transit, and Newark Airport, commuting is effortless. Be part of the New Newark renaissance and stake your claim in this dynamic neighborhood. Close to schools, colleges, hospitals, and a bustling downtown scene, this is a unique chance to invest in a high-demand location. Opportunity is knocking answer it today!
Presented By: TWRG REALTY GROUP; 908-355-1717
Interior Features for 587 Dr Martin Luther King J
Bedrooms
Total Bedrooms3
Unit 1 Beds Total2
Unit 2 Beds Total2
Unit 3 Beds Total2
Bathrooms
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 Levels2
Unit 3 Levels3
UnitType1TotalRent1475
UnitType2TotalRent0
UnitType3TotalRent1650
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, Smoke Detector
BasementUnfinished
Fuel TypeGas-Natural
Other Rooms
Unit 2 Rooms5
Unit 1 Rooms5
Unit 3 Rooms5
Unit 3 Room DescriptionBedrooms, Eat-In Kitchen, Living Room
Unit 1 Room DescriptionBedrooms, Eat-In Kitchen, Living Room
Unit 2 Room DescriptionBedrooms, Eat-In Kitchen, Living Room
General for 587 Dr Martin Luther King J
Architectural Style3-Three Story
CoolingWall A/C Unit(s)
CountyEssex
DirectionsBetween Court & Mercer
DriveOn-Street Parking
EasementUnknown
Full Baths3
Gross Income
Heating3 Units
Net Operating Income
Number Of Units Total3
Open Parking Spaces
Operating Expense
PossessionTo agree
RoofAsphalt Shingle
SewerPublic Sewer
Standard StatusUnder Contract
StatusUnder Contract
Tax Annual Amount5750
Tax Assessed Value151200
Tax Lot53
Tax Year2024
Total Rooms14
Town #1614
TownshipNewark City
UtilitiesGas-Natural
Water HeaterGas
Year Built9999
Exterior for 587 Dr Martin Luther King J
Exterior DescriptionStone
Lot Dimensions18.7X100
Lot Size Acres0.04
Water SourcePublic Water
Additional Details
Price History
YOLANDA CASSIDY-BOGAN
Associate