- Multi-Family Residential
- Active
- 2 months ago
267 6th Ave W
Newark City NJ 07107-1630
$630,000
25X100
Description
Strong Income-Producing Opportunity with Monthly Cash Flow Potential. Don't miss this solid brick two-family property featuring updated heating, plumbing, and electrical systems. The first-floor unit offers a modernized kitchen and bath, while the expansive second-floor duplex includes five generously sized bedrooms and two full bathrooms. In total, the property features 8 bedrooms and 3 full baths, plus a high-ceiling basement offering flexible future possibilities. Based on current market data, the second-floor unit has an estimated market rent of approximately $4,400 per month, while the first-floor unit is estimated to rent for approximately $2,000 per month once vacated. Finished basements in the area may rent for approximately $2,050 per month; any potential income is subject to buyer obtaining all required approvals and completing due diligence. Current rental income for the property is approximately $6,100 per month, with a TOTAL ESTIMATED MONTHLY GROSS RENTAL INCOME up to $8,700 when fully rented at market rates. Ideally located near public transportation, shopping, and major thoroughfares, this property presents an excellent opportunity for both investors and owner-occupiers. Property can be delivered fully vacant.
Facts and Features
Type
Multi-Family Residential
Year Built
2024
Heating
Gas-Natural
SQFT
25X100
Bedrooms
7
bathrooms
3.10
GARAGE
Status
Active
Interior Features
- Basement Description
- Full, Unfinished
- Basement
- Yes
- Total # Full Baths
- 3
- Total # Half Baths
- 1
- Total # Baths
- 3.10
- # Bedrooms
- 7
- Cooling
- None
- Heating
- 2 Units, Baseboard - Hotwater
- Fuel Type
- Gas-Natural
- Status
- Active
- Total # Rooms
- 11
- Unit 1 Appl/Equip
- Range/Oven - Gas, Refrigerator
- Unit 1 Baths
- 1.0
- Unit 1 Bedrooms
- 2
- Unit 1 Handicap Modified
- No
- Unit 1 Lease Expiration
- 2026-03-01
- Unit 1 Levels
- 1
- Unit 1 Owner/Tenant Pays
- Owner Pays Water, Tenant Pays Electric, Tenant Pays Gas, Tenant Pays Heat
- Unit 1 Rent
- 1700
- Unit 1 Room Description
- Bedrooms, Eat-In Kitchen, Living Room
- Unit 1 Rooms
- 4
- Unit 1 Security Deposit
- 2400
- Unit 1 Sq Ft
- 950
- Unit 2 Appl/Equip
- Range/Oven - Gas, Refrigerator, Smoke Detector
- Unit 2 Baths
- 2.0
- Unit 2 Bedrooms
- 5
- Unit 2 Handicap Modified
- No
- Unit 2 Levels
- 2
- Unit 2 Owner/Tenant Pays
- Owner Pays Water, Tenant Pays Electric, Tenant Pays Gas, Tenant Pays Heat
- Unit 2 Rent
- 4450
- Unit 2 Room Description
- Bedrooms, Eat-In Kitchen, Kitchen, Living Room
- Unit 2 Rooms
- 7
- Unit 2 Security Deposit
- 4450
- Unit 2 Sq Ft
- 1900
- Unit Style
- 3-Three Story
- Water Heater
- Gas
Exterior Features
- Total Acres
- 0.06
- Parking/Driveway Description
- None
- Easement
- No
- Exclusions
- Personal Property
- Exterior Description
- Brick
- Garage Description
- None, On-Street Parking
- Approximate Lot Size
- 25X100
- Roof Description
- Flat
- Sewer
- Public Sewer
- Total # Units
- 2
- Utilities
- All Underground, Electric, Gas-Natural
- Water
- Public Water
- Construction Date/Year Built Des
- Renovated