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Listed with Cynthia Lubin | 551-200-7590, Compass New Jersey, LLC-Montclair
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Excellent cash flow opportunity in Newark's high-demand Weequahic section. This 16-room, 3-family residence offers immediate income potential with clear built-in upside for a buyer ready to update and reposition. Two units can be delivered vacant, providing flexibility to owner-occupy while maximizing rental income. The second floor offers stable income with a tenant in place through October 2027, along with a near-term opportunity to reposition rents to market. With cosmetic updates and lease turnover, projected gross rents range from $6,500 to $7,000 per month. Separate utilities, full unfinished basement, and a location that checks every box: Weequahic Park, Beth Israel Medical Center, and Newark Liberty International Airport all nearby with easy access to major transit routes. Please note: Sold as-is. Buyer responsible for Newark Certificate of Code Compliance and DCA Green Card.
| DAYS ON MARKET | 3 | LAST UPDATED | 5/2/2026 |
|---|---|---|---|
| YEAR BUILT | 0 | COMMUNITY | 400 |
| COUNTY | ESSEX | STATUS | Active |
| PROPERTY TYPE(S) | Multi Family |
| ADDITIONAL DETAILS | |
| AREA | 400 |
|---|---|
| STYLE | 3 Family |
| TAXES | 6934 |
| UTILITIES | Natural Gas Available, Electricity Connected, Natural Gas Connected |
MORTGAGE CALCULATOR
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