525-527 Central Avenue

Newark, NJ
$ 2,300,000 Beds 0 Baths 0
Monthly Estimate* How much can I afford?

Great investment opportunity! Mixed Use Property with 7 units - 4 residential, 3 commercial. Current NOI 136.5k with an upside to 172k. Commercial unit is leased to a daycare that just started a 7 year lease with option to continue. Residential Units are currently rented 25% under market rates and in good condition but with some capex new owner will be able to get premium rent. This property is a cash money maker with little maintenance. Tremendous upside 'by right' you can build approx. 10 more units on the property. Buyer must due his due diligence.

Multi-Family

  • Price
  • $ 2,300,000
  • Lot Size
  • Bedrooms
  • 0
  • Full Bathrooms
  • 0
  • Half Bathrooms
  • 0
  • City, Zip
  • Newark
  • County
  • ESSEX
  • Style
  • Multiple Buildings
  • Area
  • Newark
  • MLS#
  • 22106274
  • Zip
  • 07107
Listing Provided by: Shalom Ohayon, Blue Key Realty, LLC
Data Source: Monmouth Ocean Regional Realtors (MOMLS)

Features

General

Basement Yes
Days on Market 100
Garage No
New Construction No
Owner Individual(s)
Property Type D
Status Active
Subdivision None
Type Multiple Buildings
Water Heater Propane Gas
Waterfront No

Interior Features

# Units In Bldg 7.0000
Heat/ac Other - See Remarks
Heating Fuel Natural Gas
Number of Garages 0.00
Total Bathrooms 0.00

Exterior Features

Pool Y/N No
Water/Sewer Public Sewer
Waterview No

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Affordability Calculator

$2,869

Per Month

Based on the average sale price from the Forked River, NJ office

  • Monthly Principal & interest $1,740
  • Monthly Property Taxes $1,062
  • Monthly Home Insurance $67
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Default based on a 30-year fixed rate of 3.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA, or jumbo loans.

Schools

Elementary School Unknown Elementary School
Middle School Unknown Middle School
High School Unknown High School

Price History

3/5/2021 Listed $2,300,000

Property vs Zip Code Average in 07107

Price
AVG $440K
$2.3M
Visits
AVG 70
195
Walkscore
AVG 78
77
Data Provided by Walkscore ® not using MLS data

Map

525-527 Central Avenue Newark, NJ is a Single Family Home for sale at $2300000 and a lot size of Acre(s). 525-527 Central Avenue Newark has 0 bedrooms, 0 baths . The property's zip code is 07107 which is in Newark, NJ

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 3.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

All information deemed reliable, but not guaranteed, and should be independently verified. The real estate information and related content displayed on this site is provided 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.