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137 Congress St

Newark, NJ 07105
  • $849,000
  • STATUS: Active
  • ON SITE: 19 Days
  • MLS #: 220016789
UPDATED: 200 min ago
$849,000
  • 9
    BEDS
  • N/A
    ACRES
  • 4
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
County:
Area:

School Ratings & Info

Description

Lucrative, INCOME-PRODUCING opportunity for both investors and owner occupants! This 3-FAMILY property is located in Newark's coveted IRONBOUND section, only 5 blocks from Newark Penn/PATH station. Each unit features 3 bedrooms, 1 full bathroom, a spacious living room and well-equipped kitchen. The basement is FULLY FINISHED with two additional rooms that can serve a host of purposes, a 4TH FULL BATHROOM and a COIN-OPERATED LAUNDRY ROOM. Washer and dryer are included in the sale. The property easily pays for itself, and then some, with excellent, LONG-TERM TENANTS in place. The existing month-to-month leases allow for LANDLORD FLEXIBILITY and, it should be noted rents are below market value for the area. The building is equipped with 3 CENTRAL HVAC units, 4 GAS/ELECTRICAL METERS and 4 HOT WATER HEATERS installed in 2017. Utility company and city permits approved for SOLAR PANEL installation. Please note that these panels have been PURCHASED OUTRIGHT by the seller, not leased. The property is zoned, MX-1, for POTENTIAL MIXED-USE purposes and can, therefore, house a COMMERCIAL BUSINESS on the first floor with RESIDENCES above! The possibilities are ENDLESS! All utilities, insurance, mortgage and tax payments are up to date with no liens on property. With the Ironbound section seeing recent expansion with newly established SCHOOLS in addition to clusters of appetizing RESTAURANTS and bakeries, there's no better neighborhood to INVEST and live in! Schedule a showing today!

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© 2022 Hudson County Multiple Listing Service. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Hoboken Living | Christie's International Northern New Jersey. The data relating to real estate for sale or lease on this web site comes in part from HCMLS. Real estate listings held by brokerage firms other than Hoboken Living | Christie's International Northern New Jersey are marked with the HCMLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. Data last updated: 2022-10-06T00:25:49.073.
www.hobokenlivinghomes.com/homes/133182161
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137 Congress St Newark, NJ 07105

  • Price: $849,000
  • Status: Active
  • On Site: 19 Days
  • Updated: 200 min ago
  • MLS #: 220016789
9
Beds
4
Baths
0
½ Baths
N/A
Acres
Neighborhood:
Newark
County:
Essex
Area:
Newark
Property Description
Lucrative, INCOME-PRODUCING opportunity for both investors and owner occupants! This 3-FAMILY property is located in Newark's coveted IRONBOUND section, only 5 blocks from Newark Penn/PATH station. Each unit features 3 bedrooms, 1 full bathroom, a spacious living room and well-equipped kitchen. The basement is FULLY FINISHED with two additional rooms that can serve a host of purposes, a 4TH FULL BATHROOM and a COIN-OPERATED LAUNDRY ROOM. Washer and dryer are included in the sale. The property easily pays for itself, and then some, with excellent, LONG-TERM TENANTS in place. The existing month-to-month leases allow for LANDLORD FLEXIBILITY and, it should be noted rents are below market value for the area. The building is equipped with 3 CENTRAL HVAC units, 4 GAS/ELECTRICAL METERS and 4 HOT WATER HEATERS installed in 2017. Utility company and city permits approved for SOLAR PANEL installation. Please note that these panels have been PURCHASED OUTRIGHT by the seller, not leased. The property is zoned, MX-1, for POTENTIAL MIXED-USE purposes and can, therefore, house a COMMERCIAL BUSINESS on the first floor with RESIDENCES above! The possibilities are ENDLESS! All utilities, insurance, mortgage and tax payments are up to date with no liens on property. With the Ironbound section seeing recent expansion with newly established SCHOOLS in addition to clusters of appetizing RESTAURANTS and bakeries, there's no better neighborhood to INVEST and live in! Schedule a showing today!
Exterior Features

Exterior Finish Aluminum/Vinyl Lot Size 27X95 Parking None Style Multi-LevelOther-See Remarks

Interior Features

Basement FinishedFull Basement Baths 1 Floor1 Rooms 5 Floor2 Rooms 5 Floor3 Rooms 5 Floor4 Rooms 0 Heating Cooling A/C CentralHot AirGas Level1 Baths 1 Level1 Bedrooms 3 Level2 Baths 1 Level2 Bedrooms 3 Level3 Baths 1 Level3 Bedrooms 3 Total Other Rooms 0

Property Features

Bank Owned No Exclusions Personal Property Floor1 Rent 1500 Floor2 Rent 1500 Floor3 Rent 1500 Inclusions Coin-Operated Washer And Dryer Internet Yes Lead Paint Form Yes Multifamily Type 3 Family Short Sale No Taxes 9873

Listing provided courtesy of New Millennium R.E. Team Inc.:908-282-1234.


© 2022 Hudson County Multiple Listing Service. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Hoboken Living | Christie's International Northern New Jersey. The data relating to real estate for sale or lease on this web site comes in part from HCMLS. Real estate listings held by brokerage firms other than Hoboken Living | Christie's International Northern New Jersey are marked with the HCMLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. Data last updated: 2022-10-06T00:25:49.073.
 
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