Property
Newark City, NJ 07103 318 S 7Th St
$499,900
9 more
Presented By: KELLER WILLIAMS REALTY; 973-715-6210
Beds • 6
Baths • 3
Home Details
Endless Potential in This 3-Family Opportunity! Bring your vision and unlock the potential of this classic 3-family home, perfect for investors or owner-occupants seeking rental income. Each of the three floors features a spacious layout with 2 bedrooms and 1 full bath, offering flexibility and strong rental appeal. This is a true fixer-upper?ready for updates and renovations to bring out its full value. Whether you plan to rehab and flip, rent all three units, or live in one while renovating the others, the possibilities are wide open.Located in a convenient location near Newark's downtown. The property has a solid footprint with room for improvement. With the right updates, it can become a fantastic income-producing asset. Sold as-is. Cash or renovation financing likely required. Furnance and water heater from 2019. Separate meters for gas and electric.
Presented By: KELLER WILLIAMS REALTY; 973-715-6210
Interior Features for 318 S 7Th St
Bedrooms
Total Bedrooms6
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 Ft1000
Unit 2 Sq Ft1000
Unit 3 Sq Ft1000
Unit 1 Levels1
Unit 2 Levels2
Unit 3 Levels3
UnitType1TotalRent0
UnitType2TotalRent0
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/EquipRange/Oven - Gas, Refrigerator
Unit 2 Appl/EquipRange/Oven - Gas, Refrigerator
Unit 3 Appl/EquipRange/Oven - Gas, Refrigerator
BasementFull, Unfinished
Fuel TypeGas-Natural
Interior AmenitiesCarbon Monoxide Detector, Carpeting, Smoke Detector, Walk-In Closet, Wood Floors
Other Rooms
Unit 2 Rooms5
Unit 1 Rooms5
Unit 3 Rooms5
Unit 3 Room DescriptionBedrooms, Eat-In Kitchen, Living Room, Pantry
Unit 1 Room DescriptionBedrooms, Eat-In Kitchen, Living Room, Pantry
Unit 2 Room DescriptionBedrooms, Eat-In Kitchen, Living Room, Pantry, Storage
General for 318 S 7Th St
Architectural Style3-Three Story
CoolingWindow A/C(s)
CountyEssex
Directionsbetween 14th and 15th Ave or South Orange Ave to S. 7th
DriveOn-Street Parking
EasementUnknown
Farm AssessmentNo
Full Baths3
Garage Spaces
Gross Income54000
Heating1 Unit, Baseboard - Hotwater
Home Warranty Y/NNo
Net Operating Income43171
Number Of Units Total3
Open Parking Spaces
Operating Expense10800
Possession30-60 days
RoofFlat
SewerPublic Available
Standard StatusComing Soon
StatusComing Soon
Tax Annual Amount6602
Tax Assessed Value173600
Tax Lot35
Tax Year2024
Total Rooms15
Town #1614
TownshipNewark City
UtilitiesGas In Street
Water HeaterGas
Year Built1903
Exterior for 318 S 7Th St
Exterior DescriptionVinyl Siding
Lot Dimensions25X100
Lot Size Acres0.06
Water SourcePublic Water
Additional Details
Price History
Tina Torres
Broker/Owner