587 S Orange Ave,Newark City, NJ 07106
Newark City, NJ 07106
Description
Excellent mixed-use investment opportunity on busy South Orange Avenue! This income-producing property features a commercial space on the first floor with an established tenant and lease in place. The second floor offers a renovated two-bedroom apartment, providing an additional source of rental income. A full unfinished basement provides additional storage. Renovated in 2021 and situated in Newark's C-2 Community Commercial and Residential Zone, the property offers strong visibility and convenient access to major highways, public transportation, shopping and neighborhood amenities. A great opportunity to add a versatile mixed-use property to your investment portfolio. Buyer responsible for verifying permitted uses and property information with the City of Newark.
Details
| MLS # | 4052304 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1900 |
| Days On Site | 31 |
| Listing Provided By | EPIQUE REALTY | PINA PAGLIUCA |
Features
| Basement | Y |
|---|---|
| Story(s) | 2 |
| Units | 2 |
| Zoning | c-2 |
Taxes
| Property | 12996 |
|---|
Area Information
| State | NJ |
|---|---|
| County | Essex |
| City | Newark City |
| Zip Code | 07106 |
| Area | Essex |
| Listing VS Median (in 07106) | |
Price: $549,000 low | high Med: $209,350 On site: 31 low | high Med: 55 | |
Market Activity 07106
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Learn More About This Property
| State | NJ |
|---|---|
| County | Essex |
| City | Newark City |
| Zip Code | 07106 |
| Area | Essex |
| Listing VS Median (in 07106) | |
Price: $549,000 low | high Med: $209,350 On site: 31 low | high Med: 55 | |
