901-903 S 16th St
Newark City, NJ 07108
Price: $895,000
GSMLS: 3981716Type: Multi-Family
Style: 3-Three Story
Total Units: 2
Beds: 7
Baths: 3 Full & 1 Half
Garage: 2-Car
Year Built: 2020
Acres: 0.08
Property Tax: $0
Description
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.
General Info
Style:
3-Three Story
SqFt Building:
2,020
Total Rooms:
16
Basement:
No
Interior:
Carbon Monoxide Detector, Fire Extinguisher, High Ceilings, Intercom, Shades, Smoke Detector, Vinyl-Linoleum Floors, Walk-In Closet
Roof:
Asphalt Shingle
Exterior:
Vinyl Siding
Lot Size:
35X100
Lot Desc:
n/a
Parking
Garage Capacity:
2-Car
Description:
Attached Garage, Garage Under, Oversize Garage
Parking:
2 Car Width, Additional Parking, Concrete, Driveway-Exclusive, Fencing, On-Street Parking
Spaces Available:
4
Unit 1
Bedrooms:
4
Bathrooms:
3
Total Rooms:
7
Room Description:
Bedrooms, Family Room, Kitchen, Living/Dining Room, Master Bedroom, Utility Room
Levels:
2
Square Foot:
n/a
Fireplaces:
n/a
Appliances:
Carbon Monoxide Detector, Dishwasher, Kitchen Exhaust Fan, Microwave Oven, Range/Oven - Gas, Refrigerator, Smoke Detector
Utilities:
Owner Pays Electric, Owner Pays Gas, Owner Pays Heat, Owner Pays Water
Handicap:
No
Unit 2
Bedrooms:
3
Bathrooms:
2
Total Rooms:
5
Room Description:
Bedrooms, Family Room, Kitchen, Laundry Room, Living/Dining Room, Master Bedroom
Levels:
1
Square Foot:
n/a
Fireplaces:
n/a
Appliances:
Carbon Monoxide Detector, Dishwasher, Kitchen Exhaust Fan, Microwave Oven, Range/Oven - Gas, Refrigerator, Smoke Detector
Utilities:
Tenant Pays Electric, Tenant Pays Gas, Tenant Pays Heat, Tenant Pays Water
Handicap:
No
Unit 3
Bedrooms:
n/a
Bathrooms:
n/a
Total Rooms:
n/a
Room Description:
n/a
Levels:
n/a
Square Foot:
n/a
Fireplaces:
n/a
Appliances:
n/a
Utilities:
n/a
Handicap:
n/a
Unit 4
Bedrooms:
n/a
Bathrooms:
n/a
Total Rooms:
n/a
Room Description:
n/a
Levels:
n/a
Square Foot:
n/a
Fireplaces:
n/a
Appliances:
n/a
Utilities:
n/a
Handicap:
n/a
Utilities
Heating:
2 Units, Forced Hot Air
Heating Fuel:
Electric, Gas-Natural
Cooling:
Central Air
Water Heater:
Gas
Water:
Public Water
Sewer:
Public Sewer
Utilities:
Electric, Gas-Natural
Services:
Cable TV Available, Garbage Included
School Information
Elementary:
HAWTHORNE
Middle:
HAWTHORNE
High School:
TECHNOLOGY
Community Information
County:
Essex
Town:
Newark City
Neighborhood:
n/a
Financial Considerations
List Price:
$895,000
Tax Amount:
$0
Land Assessment:
$12,500
Build. Assessment:
$328,000
Total Assessment:
$340,500
Tax Rate:
3.80
Tax Year:
2024
Listing Information
MLS ID:
3981716
List Date:
08-16-2025
Days On Market:
1
Listing Broker:
REAL
Listing Agent:
Request More Information
Shawn and Diane Fox
RE/MAX American Dream
3108 Route 10 West
Denville, NJ 07834
Call: (973) 277-7853
Web: GlenmontCommons.com
