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Realty of America
129 Carolina Ave, Newark City, NJ 07106
- $830,000
- 8
- BD
- 4
- BA
- List Price
- $830,000
- MLS#
- 4064891
- Year Built
- 1944
- Status
- ACTIVE
- County
- Essex
- City
- Newark City
- Subdivision
- Residential
- Bedrooms
- 8
- Bathrooms
- 4
- Baths Full
- 4
- Acres
- 0.10
Property Description
Well-maintained 4-family investment property offering 8 bedrooms, 4 full bathrooms, and approximately 3,990 sq. ft. of living space, excluding double expansive basement offering substantial additional potential. Strong income-producing opportunity with immediate cash flow and room for rental growth. Current rental income totals $6,550 monthly ($78,600 annually), with potential annual rental income of $91,200. An additional $12,600 given market rents. With annual property taxes of just $8,505, projected income after property taxes is $82,695, before operating expenses and debt service. Additional highlights include hardwood flooring throughout, newer roof, furnace, and windows, plus off-street parking for approximately 4-6 vehicles, a valuable convenience for tenants. Ideally for commuters, with NYC bus service nearby, approximately 5 minutes to a NYC-bound train station, 15 minutes to Newark Liberty International Airport, and convenient access to major highways, shopping centers, and everyday amenities. An attractive opportunity for investors seeking immediate rental income, future income growth, and long-term investment potential. Conventional or DSCR financing only.
Additional Information
- Taxes
- $8,505
- Cooling
- None
- Exterior
- Aluminum Siding, Brick
- Heating
- 4+ Units
- Interior
- Fire Extinguisher, High Ceilings, Smoke Detector, Tile Floors, Wood Floors
- Roof
- Asphalt Shingle
- Sewer
- Public Sewer
- Water
- Public Water
- Basement
- Yes
- Lot Description
- Level Lot
- Exterior Features
- Curbs, Sidewalk
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Listing Courtesy Of COLDWELL BANKER REALTY, Contact: 908-422-8621
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