Description
Discover a unique investment opportunity with this large legal 3 family, that provides 8 bedrooms and 3 baths, off Springfield & Bergen Ave. 2nd & 3rd floor units have 3 bedrooms with the possibility of adding a fourth bedroom or an ensuite bathroom with a rear balcony in each unit. Spacious apartments with lots of natural light & an eat in kitchen. Units 2 & 3: Gross rental estimated $2000- $2500 for (3 bedrooms). Unit 1: Gross rental estimated $1500-1800 for ( 2 bedrooms). Estimated total rental income combined $5500-6800+ pcm. An additional $1400-1800 can be generated once the basement has been renovated with the appropriate permits. The home has 3 separate gas furnaces & electrical panels for each unit. Parking is available for 3+ cars but the vacant lot to the rear does not belong to the property. Close to all modes of public transportation & minutes away from Downtown Newark, Hospital, Rutgers University, I-280 & Garden State Pkwy creating an easy commute to New York. This three-family home beckons to those who see beyond its current state. This property is a great project & invites you to reimagine its spaces. Please submit your best offer at your first opportunity to avoid disappointment.
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8BEDS
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0.07ACRES
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3BATHS
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01/2 BATHS
School Ratings & Info
Description
Discover a unique investment opportunity with this large legal 3 family, that provides 8 bedrooms and 3 baths, off Springfield & Bergen Ave. 2nd & 3rd floor units have 3 bedrooms with the possibility of adding a fourth bedroom or an ensuite bathroom with a rear balcony in each unit. Spacious apartments with lots of natural light & an eat in kitchen. Units 2 & 3: Gross rental estimated $2000- $2500 for (3 bedrooms). Unit 1: Gross rental estimated $1500-1800 for ( 2 bedrooms). Estimated total rental income combined $5500-6800+ pcm. An additional $1400-1800 can be generated once the basement has been renovated with the appropriate permits. The home has 3 separate gas furnaces & electrical panels for each unit. Parking is available for 3+ cars but the vacant lot to the rear does not belong to the property. Close to all modes of public transportation & minutes away from Downtown Newark, Hospital, Rutgers University, I-280 & Garden State Pkwy creating an easy commute to New York. This three-family home beckons to those who see beyond its current state. This property is a great project & invites you to reimagine its spaces. Please submit your best offer at your first opportunity to avoid disappointment.
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Data last updated 2023-09-23T23:46:34.86.