129 Carolina Ave Under Contract Save Request In-Person Tour Request Virtual Tour
Newark City,NJ 07106
Key Details
Property Type Multi-Family, Commercial
Listing Status Under Contract
Purchase Type For Sale
Square Footage 3,990 sqft
Price per Sqft $162
Subdivision Residential
MLS Listing ID 3927681
Style Fourplex
Bedrooms 6
Full Baths 4
Year Built 1944
Annual Tax Amount $7,929
Tax Year 2023
Lot Size 4,356 Sqft
Property Description
Well-maintained 4-family investment property offering a total of 6 bedrooms and 4 bathrooms. An impressive floor plan spanning approx 3,990 sqft is extremely spacious allowing for both 1-bedroom units to be easily converted into 2-bedroom units, providing excellent potential for increased rental income. The potential annual rental income for this property is $88,000, with annual taxes amounting to $7,929. This results in a net annual income of $80,071 before utilities and debt servicing charges. Currently, the rent roll is approximately $68,616 annually. Property has hardwood floors throughout and comes with newer roofing, furnace and windows. Basement is full size, standing height and amazing with unlimited potential. This is a commuter's delight, conveniently located near a NYC bus stop, 5 Minutes' drive to NYC train station, 15 minutes from Newark Liberty Airport, and close to major highways and shopping malls. ( Conventional loans only )
Location
State NJ
County Essex
Zoning Residential
Rooms
Basement Bilco-Style Door, Finished-Partially, Full, Walkout
Interior
Interior Features Fire Extinguisher, High Ceilings, Smoke Detector, Tile Floors, Wood Floors
Heating Electric, Gas-Natural
Cooling None
Heat Source Electric, Gas-Natural
Exterior
Exterior Feature Aluminum Siding, Brick
Utilities Available Gas In Street
Roof Type Asphalt Shingle
Building
Lot Description Level Lot
Sewer Public Sewer
Water Public Water
Architectural Style Fourplex
Others
Senior Community No