Property
Newark City, NJ 07103 297 S 7Th St
$795,000
Pending
5 more
Presented By: MONARCH REALTY & ASSOCIATES
Full/Half Baths • 0 / 5- SQFT • 4,800
Full/Half Baths • 0 / 5
SQFT • 4,800Home Details
This gem is the perfect addition to your investment portfolio with this rare multi-family property featuring two separate structures on one expansive lot. The front building offers a three-family layout, while the rear structure houses an additional two-unit structure, providing a total of five units. Four units are currently occupied with stable tenants, generating immediate income. One unit requires rehab, offering value-add potential for increased future returns. Equipped with separate utilities and a large fenced in yard. Perfect for a seasoned investor or buyer searching for their first multi-family acquisition. This property delivers strong cash flow, upside potential, and long-term stability. Close to mass transportation making a commute into Downtown Newark and into NYC a breeze. Minutes to Rutgers Hospital, Rutgers Newark and NJIT.
Presented By: MONARCH REALTY & ASSOCIATES
Interior Features for 297 S 7Th St
Bedrooms
Num 4 Bed Units
Bathrooms
Num Units w/Full Bath5
Num Units w/Half Bath
Half Baths5
Other Interior Features
Price Per Sq Ft165.00
Available Sq Ft4800
Num 3 Bdrm Units2
Num 2 Bdrm Units3
Num 1 Bdrm Units12
BasementUnfinished
FlooringCarpeting, Laminate
Fuel TypeGas-Natural
Total Stories3
General for 297 S 7Th St
ConstructionWood
CoolingWindow A/C(s)
CountyEssex
Directions14th Ave to 7th
Documents AvailableIncome & Expenses, Leases
DriveNone, On-Street Parking
EasementUnknown
Equipment AvailableSmoke Detector
Farm AssessmentNo
Garage Spaces
Heating4+ Units, Baseboard - Electric, Radiators - Hot Water, Radiators - Steam
Leasable Area
Lease InformationMonth-To-Month
Lease TypeOther
LocationResidential Area
Num Apts5
Number Of Units Total5
OwnershipFee Simple
PossessionImmediate
Property TypeApartment Complex
Property TypeApartment Complex
RoofAsphalt Shingle
ServicesFiber Optic Available
SewerPublic Sewer
Standard StatusUnder Contract
StatusUnder Contract
Tax Annual Amount10880
Tax Assessed Value286100
Tax Lot17
Tax Year2024
Town #1614
TownshipNewark City
UtilitiesGas-Natural
Utilities Paid ByTenant
Year Built1920
ZoningRes
Exterior for 297 S 7Th St
Building Area Total4800
Exterior DescriptionVinyl Siding
Lot Dimensions56.10 X 86.4
Lot FeaturesCorner
Lot Size Acres0.11
Max Ceiling Height8
Max Door Height0
Number of Bays0
Number of Docks0
Total Parking0
Water SourcePublic Water
Additional Details
Price History
Tina Torres
Broker/Owner