901 S 16Th St, Newark City, NJ 07108

• 7 beds |
• 3 baths

Property Description

Five-year-old two-family home, property is zoned for three units. This modern multi-unit offers both immediate rental income and future potential. This property is ideal for investors or owner-occupants. Tax abatement in place through June 2026, providing reduced expenses and more substantial cash flow. Recent construction offers low-maintenance living and future expansion potential. Unit 1 is vacant and includes access to the ground level, with 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. 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.

Listing Status:

Active

Listing Office:

REAL : 855-450-0442

MLS ID:

3981716

Interior

• General: Carbon Monoxide DetectorFire ExtinguisherHigh CeilingsIntercomShadesSmoke DetectorVinyl-Linoleum FloorsWalk-In Closet
• A/C: Central Air
• Heating: 2 UnitsForced Hot AirElectricGas-Natural

Exterior

• General: Vinyl SidingPatioPrivacy Fence
• Parking: Parking spaces: 4

Construction

• Roofing: Asphalt Shingle

Location

• County: Essex

Lot

• Driveway: 2 Car WidthAdditional ParkingConcreteDriveway-ExclusiveFencingOn-Street Parking
• Zoning: Residential1614-03012-0000-00037-0000-

Utilities

• Utilities: ElectricGas-Natural
• Water: Public Water
• Sewer: Public Sewer

Financial

• Exclusions: Personal belongings

This listing courtesy of REAL