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137 Congress St

Newark City, NJ 07105
  • $849,000
  • STATUS: Active Under Contract
  • ON SITE: 70 Days
  • MLS #: 3807837
Under Contract
UPDATED: 64 min ago
$849,000
  • 9
    BEDS
  • 0.06
    ACRES
  • 4
    BATHS
  • 0
    1/2 BATHS
  • 4,520
    SQFT
  • $188
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1857
County:
Area:

School Information

Elementary School:
Middle School:
High School:

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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Garden State MLS logo © 2022 Garden State Multiple Listing Service, LLC. 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 The Sue Adler Team - Keller Williams. Notice: The dissemination of listings on this website does not constitute the consent required by N.J.A.C. 11:5.6.1 (n) for the advertisement of listings exclusively for sale by another broker. Any such consent must be obtained in writing from the listing broker.The data relating to real estate for sale or lease on this web site comes in part from GSMLS. Real estate listings held by brokerage firms other than The Sue Adler Team - Keller Williams are marked with the GSMLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. Data last updated 2022-11-26T20:46:50.887.
www.latestnjlistings.com/homes/133161843
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137 Congress St Newark City, NJ 07105

  • Price: $849,000
  • Status: Active Under Contract
  • On Site: 70 Days
  • Updated: 64 min ago
  • MLS #: 3807837
9
Beds
4
Baths
0
½ Baths
0.06
Acres
4,520
SQFT
$188
$/SQFT
1857
Built
Neighborhood:
Ironbound
County:
Essex
Area:
Newark City
Elementary School:
Lafayette
Middle School:
Ann St
High School:
East Side
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

Approximate Lot Size 27X95 Color Of Building White Exterior Description Vinyl Siding Exterior Features Sidewalk Lot Description Level Lot Number Of Parking Spaces 0 Parking Driveway Description On-Street Parking Roof Description Flat

Interior Features

Basement Yes Basement Description FinishedFull Cooling Central AirSee Remarks Heating Forced Hot AirSee Remarks Interior Features Carbon Monoxide DetectorFire ExtinguisherSmoke DetectorTile FloorsWood Floors Total Number Of Rooms 22 Unit1 Appliances Equipment Carbon Monoxide DetectorDishwasherRange/Oven - GasSmoke Detector Unit1 Baths 1.0 Unit1 Bedrooms 3 Unit1 Fireplaces 0 Unit1 Handicap Modified No Unit1 Levels 1 Unit1 Room Description BedroomsKitchenLiving/Dining Room Unit1 Rooms 6 Unit1 Security Deposit 0 Unit1 Sq Ft 0 Unit2 Appliances Equipment Carbon Monoxide DetectorDishwasherRange/Oven - GasSmoke Detector Unit2 Baths 1.0 Unit2 Bedrooms 3 Unit2 Fireplaces 0 Unit2 Levels 1 Unit2 Room Description BedroomsKitchenLiving/Dining Room Unit2 Rooms 6 Unit2 Sq Ft 0 Unit3 Baths 1.0 Unit3 Bedrooms 3 Unit3 Fireplaces 0 Unit3 Levels 1 Unit3 Room Description BedroomsKitchenLiving/Dining Room Unit3 Rooms 6 Unit3 Sq Ft 0

Property Features

Assessment Total 264400 Building Assessment 189900 Easement No Exclusions Personal Property Farm Assessment No Fha Age Restricted No Fuel Type ElectricGasnaturSolarown Gross Operating Income 0 Home Warranty No Land Assessment 74500 Net Operating Income 0 Renovated Year 2012 Services Garbage Included Sewer Public Sewer Tax Amount 9872 Tax Rate Amount 3.734 Tax Rate Year 2021 Tax Year 2021 Total Operating Expense 0 Unit Style Triplex Unit1 Owner Tenant Pays Owner Pays WaterTenant Pays ElectricTenant Pays GasTenant Pays Heat Unit1 Rent 1500 Unit2 Handicap Modified No Unit2 Owner Tenant Pays Owner Pays WaterTenant Pays ElectricTenant Pays GasTenant Pays Heat Unit2 Rent 1500 Unit2 Security Deposit 0 Unit3 Handicap Modified No Unit3 Owner Tenant Pays Owner Pays WaterTenant Pays ElectricTenant Pays GasTenant Pays Heat Unit3 Rent 1800 Unit3 Security Deposit 0 Utilities ElectricGas-Natural Water Public Water Water Heater Gas Year Built Description ApproximateRenovated Zoning Mx-1

Listing information © 2022 Garden State Multiple Listing Service,LLC.
Listing provided courtesy of Re/Max New Millennium Group: 908-282-1234.


Garden State MLS logo © 2022 Garden State Multiple Listing Service, LLC. 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 The Sue Adler Team - Keller Williams. Notice: The dissemination of listings on this website does not constitute the consent required by N.J.A.C. 11:5.6.1 (n) for the advertisement of listings exclusively for sale by another broker. Any such consent must be obtained in writing from the listing broker.The data relating to real estate for sale or lease on this web site comes in part from GSMLS. Real estate listings held by brokerage firms other than The Sue Adler Team - Keller Williams are marked with the GSMLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. Data last updated 2022-11-26T20:46:50.887.
 
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The Sue Adler Team - Keller Williams
518 Millburn Avenue, 2nd Floor
Short Hills NJ, 07078