Listing Details

297 S 7Th St,Newark City, NJ 07103-2463

  • December 20, 2025

Description

This gem is the perfect addition to your investment portfolio with this rare multi-family property featuring two separate structures on one expansive lot. The front building offers a three-family layout, while the rear structure houses an additional two-unit structure, providing a total of five units. Four units are currently occupied with stable tenants, generating immediate income. One unit requires rehab, offering value-add potential for increased future returns. Equipped with separate utilities and a large fenced in yard. Perfect for a seasoned investor or buyer searching for their first multi-family acquisition. This property delivers strong cash flow, upside potential, and long-term stability. Close to mass transportation making a commute into Downtown Newark and into NYC a breeze. Minutes to Rutgers Hospital, Rutgers Newark and NJIT.

Details

Last Updated On: December 20th, 2025 at 1:14 am
Property ID:PT-21375482-AXZR
Offer Type:For Sale
Property Type:Apartment Complex
Price: 795,000 $
Year Built:1920

Additional Details

Listing Details

Status: Active

Location

County: Essex
Lotsize: 56.10 X 86.4
Lot Description: Corner
Property Type: Apartment Complex
Lot Identifier: 17

Home Details

Location: Residential Area
Acreage: 0.11
Sale Includes: Building & Land
Construction: Wood
Exterior Description: Vinyl Siding
Roof Description: Asphalt Shingle
Number of Stories: 3
Number of Units: 5
Number of Lavatories: 5
Max Ceiling Height: 8
Floors: Carpeting, Laminate
Available SqFt: 4800
Building SqFt: 4800
Parking Desc: None, On-Street Parking
Easement/Desc: Unknown
Basmnt/Desc: Yes - Unfinished
YB/Desc: 1920 - Approximate
Block Identifier: 269
County Number: 16
Town Number: 1614
Possession: Immediate

Taxes, Fees & Assessments

For Sale Or Lease: For Sale
Documents Available: Income & Expenses, Leases
Lease Type: Other
Lease Info: Month-To-Month
Ownership: Fee Simple
Tax ID For Property: 1614-00269-0000-00017-0000-
Tax Amount: $10,880.00
Tax Year: 2024
Tax Rate: 3.803%
Tax Rate Year: 2025
Farm Assessment: No
Land Assessment: $33,000.00
Building Assessment: $253,100.00
Total Assessment: $286,100.00

Utilities

Equipment Available: Smoke Detector
Heat Source: Gas-Natural
Heat System: 4+ Units, Baseboard - Electric, Radiators - Hot Water, Radiators - Steam
Cool System: Window A/C(s)
Water: Public Water
Sewer: Public Sewer
Utilities: Gas-Natural
Services: Fiber Optic Available

Other

Zoning: Res

Statistics

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