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3-Three Story

108 Vassar Ave

Newark City , NJ 07112

MLS#: 4014650

$770,000

Status: Active
Listing number: 4014650
Listing provided by: ALEXANDER ANDERSON REAL ESTATE
Listing agent phone: None
Last update: 6 hours ago
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Property

Beds

8

Full Baths

4

1/2 Baths

None

Year Built

1917

Sq.Footage

5,000

Projected $94,800 Annual Rental Income Vacant Legal 3-Family Weequahic " NewarkExcellent opportunity to acquire a vacant legal 3-family property in Newark's desirable Weequahic section, offering strong rental income potential and long-term appreciation. Delivered vacant, allowing the new owner to immediately establish market rents and maximize income.Unit Mix?-Unit 1 " 1st Floor: 3 Bedrooms 1 Bath " Potential Rent $3,200/month (split systems for heating & air); Unit 2 " 2nd Floor: 3 Bedrooms 1 Bath " Potential Rent $3,200/month;Unit 3 " 3rd Floor: 2 Bedrooms 1 Bath " Potential Rent $2,300/monthInvestment Highlights. Projected Monthly Income: $7,900. Projected Annual Income: $94,800;2025 Taxes: $11,665?;Pro-Forma Cap Rate: 8%+ depending on purchase price and operating expensesConveniently located near Weequahic Park, Newark Beth Israel Medical Center, public transportation, major highways, shopping, and schools, with easy access to downtown Newark, Newark Liberty International Airport, and NYC commuter routes.Strong rental demand area with limited multifamily inventory. Ideal for investors seeking an income-producing property or owner-occupants looking to offset their mortgage with rental income.

Features & Amenities

Interior

  • Total Bedrooms

    8

  • Bathrooms

    4

  • Basement YN

    YES

  • Heating YN

    YES

  • Heating

    Baseboard, Natural Gas

  • Pet friendly

    N/A

Exterior

  • Garage

    Yes

  • Garage spaces

    1

  • Construction Materials

    Brick

  • Parking

    Concrete, Shared Driveway, Off Street, Detached

  • Pool

    No

Area & Lot

  • Lot Size(acres)

    0.11

  • Property Type

    Residential Income

  • Property Sub Type

    Multi Family

  • Architectural Style

    3-Three Story

Price

  • Sales Price

    $770,000

  • Tax Amount

    $11,665

  • Sq. Footage

    5, 000

  • Price/SqFt

    $154

HOA

  • Association

    No

School District

  • Elementary School

    N/A

  • Middle School

    N/A

  • High School

    N/A

Property Features

  • Stories

    3

  • Sewer

    Public Sewer

  • Tax Lot

    *

  • Water Source

    Public

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Location

County

Essex

Elementary School

Middle School

High School

Listing Courtesy of None , ALEXANDER ANDERSON REAL ESTATE

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Agent Patrick Bolger

FOUNDER

Patrick Bolger

Call Patrick today to schedule a private showing.

(973) 945-9979

patrickbolger@kw.com


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Projected $94,800 Annual Rental Income Vacant Legal 3-Family Weequahic " NewarkExcellent opportunity to acquire a vacant legal 3-family property in Newark's desirable Weequahic section, offering strong rental income potential and long-term appreciation. Delivered vacant, allowing the new owner to immediately establish market rents and maximize income.Unit Mix?-Unit 1 " 1st Floor: 3 Bedrooms 1 Bath " Potential Rent $3,200/month (split systems for heating & air); Unit 2 " 2nd Floor: 3 Bedrooms 1 Bath " Potential Rent $3,200/month;Unit 3 " 3rd Floor: 2 Bedrooms 1 Bath " Potential Rent $2,300/monthInvestment Highlights. Projected Monthly Income: $7,900. Projected Annual Income: $94,800;2025 Taxes: $11,665?;Pro-Forma Cap Rate: 8%+ depending on purchase price and operating expensesConveniently located near Weequahic Park, Newark Beth Israel Medical Center, public transportation, major highways, shopping, and schools, with easy access to downtown Newark, Newark Liberty International Airport, and NYC commuter routes.Strong rental demand area with limited multifamily inventory. Ideal for investors seeking an income-producing property or owner-occupants looking to offset their mortgage with rental income.

108 Vassar Ave

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