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Built in 2020, this modern multi-unit offers both immediate rental income and future potential. Currently configured as a legal two-unit and zoned with permits approved for three-unit use, this property is ideal for investors or owner-occupants. Unit 1 is vacant and includes access to the basement, which has the potential to be converted into a third legal unit with construction plans included. Unit 2 is tenant-occupied, generating $2,600 per month, including $100 for driveway parking. One year of tax abatement remains, providing reduced expenses and more substantial cash flow. Additional features include an oversized garage with off-street parking, newer construction with updated systems and modern finishes, and a prime Newark location near schools, shopping, major highways, and public transportation to New York City. This is a rare opportunity to purchase a low-maintenance property with existing rental income and significant upside for long-term value and appreciation.
| DAYS ON MARKET | 80 | LAST UPDATED | 8/19/2025 |
|---|---|---|---|
| YEAR BUILT | 0 | COMMUNITY | 400 |
| GARAGE SPACES | 2.0 | COUNTY | ESSEX |
| STATUS | Active | PROPERTY TYPE(S) | Multi Family |
| ADDITIONAL DETAILS | |
| AREA | 400 |
|---|---|
| GARAGE | Yes |
| STYLE | 2 Family |
| UTILITIES | Natural Gas Available, Electricity Connected, Natural Gas Connected, Water Connected |
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All information deemed reliable but not guaranteed. Last date updated: 11/3/25 1:27 PM PST Source: New Jersey Multiple Listing, Inc.
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