For Multi Family

113 Elizabeth Ave,Newark City, NJ 07108-4802

January 6, 2026

This 4-story mixed-use building offers incredible potential for investors and visionary buyers alike. Located on a high-visibility, high-traffic street just minutes from downtown Newark and major landmarks like the Prudential Center, NJPAC, and municipal buildings, the property presents a canvas ready for transformation.The building features three residential units above, each with two bedrooms and one full bath, plus a former barbershop on the ground floor perfect for a commercial storefront or office space. All units require upgrades and renovation, giving new ownership the chance to reimagine and reposition the property for today’s market.Delivered completely vacant at closing, this property offers flexibility and the opportunity to achieve strong market rents after renovation. Whether you’re looking to build a rental portfolio, operate your own business, or both this is the one to see. Rents noted are suggested amounts.

Property ID:PT-23566779-AXZR

Offer Type:For Multi Family

Property Type:Multi-Family

Price: 650,000 $

Bedrooms:6

Year Built:1920

Listing Details

Status: Active

Location

County: Essex

Lotsize: 27.7X100

Lot Identifier: 26

Home Details

Open Parking: 0

Basement: Yes

Basmnt/Desc: Yes - Unfinished

Acreage: 0.06

Total Baths: 3.10

Unit Style: Fourplex

Number of Units: 4

Rooms: 17

Easement/Desc: Unknown

Exterior Description: Brick

Roof Description: Asphalt Shingle

Possesion: At closing

Unit 1 Appliances/Equipment: Carbon Monoxide Detector, Smoke Detector

Unit 1 Levels: 1

Unit 1 Rooms: 2

Unit 1 Baths: 1.0

Unit 1 Owner/Tenant Pays: Owner Pays Water, Tenant Pays Electric, Tenant Pays Gas

Unit 1 Handicap: No

Unit 1 SqFt: 850

Unit 1 Rent: 1600

Unit 1 Room Description: Rec Room, Storage

Unit 2 Appliances/Equipment: CarbMDet,CookGas,SmokeDet

Unit 2 Levels: 1

Unit 2 Rooms: 5

Unit 2 Beds: 2

Unit 2 Baths: 1.0

Unit 2 Owner/Tenant Pays: Owner Pays Water, Tenant Pays Electric, Tenant Pays Gas

Unit 2 Handicap: No

Unit 2 SqFt: 900

Unit 2 Rent: 1800

Unit 2 Room Description: Bedrooms, Dining Room, Eat-In Kitchen, Living Room

Unit 3 Appliances/Equipment: CarbMDet,CookGas,SmokeDet

Unit 3 Levels: 1

Unit 3 Rooms: 5

Unit 3 Beds: 2

Unit 3 Baths: 1.0

Unit 3 Owner/Tenant Pays: Owner Pays Water, Tenant Pays Electric, Tenant Pays Gas

Unit 3 Handicap: No

Unit 3 SqFt: 900

Unit 3 Rent: 1800

Unit 3 Room Description: Bedrooms, Dining Room, Eat-In Kitchen, Living Room

Unit 4 Appliances/Equipment: CarbMDet,CookGas,SmokeDet

Unit 4 Levels: 1

Unit 4 Rooms: 5

Unit 4 Beds: 2

Unit 4 Baths: 1.0

Unit 4 Owner/Tenant Pays: Owner Pays Water, Tenant Pays Electric, Tenant Pays Gas

Unit 4 Handicap: No

Unit 4 SqFt: 900

Unit 4 Rent: 1700

Unit 4 Room Description: Bedrooms, Dining Room, Eat-In Kitchen, Living Room

Block Identifier: 2672

County Number: 16

Town Number: 1614

YB/Desc: 1920 - Approximate

Easement: Unknown

Parking/Driveway Description: On-Street Parking

Block Identifier: 2672

County Number: 16

Town Number: 1614

Possession: At closing

Taxes, Fees & Assessments

Gross Operating Income: 82800

Net Operating Income: 66300

Expense Include: Cold Water, Garbage Collection, Insurance, Taxes

Warranty: No

Tax ID For Property: 1614-02672-0000-00026-0000-

Tax Amount: $6,872.00

Tax Year: 2024

Tax Rate: 3.803%

Tax Rate Year: 2024

Farm Assessment: No

Land Assessment: $55,000.00

Building Assessment: $125,700.00

Total Assessment: $180,700.00

FHA Age Restricted: No

Utilities

Water Heater: Gas

Heat Source: Gas-Natural

Heat System: 4+ Units

Cool System: None

Water: Public Water

Sewer: Public Sewer

Utilities: Gas-Natural

Services: Garbage Included

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Listing Details

113 Elizabeth Ave,Newark City, NJ 07108-4802

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