For Multi Family

42 Mount Prospect Ave,Newark City, NJ 07104-1012

March 5, 2026

Full renovation opportunity for investors and developers! Welcome to 42 Mount Prospect Ave, a large 2-family property in Newark that has been fully gutted and is ready for a complete transformation. This expansive building offers a massive footprint with a total of 12 bedrooms and 6 full bathrooms across two oversized units, providing a strong foundation for a high-value renovation project. The property also includes a finished basement and sits on a generous lot with skyline views and a private driveway. With its substantial size, flexible layout, and prime redevelopment potential, this property is a rare opportunity for experienced investors looking to design and rebuild a high-performing multi-family asset. Bring your vision and unlock the full potential of this major value-add project.

Property ID:PT-30631680-AXZR

Offer Type:For Multi Family

Property Type:Multi-Family

Price: 579,000 $

Bedrooms:12

Year Built:1837

Listing Details

Status: Active

Location

County: Essex

Lotsize: 63X87.61

Lot Identifier: 38.01

Lot Description: Skyline View

Lot Identifier: 38.01

Home Details

Open Parking: 1

Basement: Yes

Basmnt/Desc: Yes - Finished

Acreage: 0.13

Total Baths: 6.00

Unit Style: 3-Three Story

Number of Units: 2

Rooms: 19

Easement/Desc: No

Exterior Description: Brick

Roof Description: Flat

Possesion: ASAP

Unit 1 Appliances/Equipment: Carbon Monoxide Detector

Unit 1 Levels: 1

Unit 1 Rooms: 9

Unit 1 Beds: 6

Unit 1 Baths: 3.0

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

Unit 1 Handicap: No

Unit 1 SqFt: 9999

Unit 1 Rent: 9999

Unit 1 Room Description: Bedrooms, Family Room, Kitchen, Living/Dining Room

Unit 1 Security Deposit: 9999

Unit 2 Appliances/Equipment: Carbon Monoxide Detector

Unit 2 Levels: 2

Unit 2 Rooms: 10

Unit 2 Beds: 5

Unit 2 Baths: 2.0

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

Unit 2 Handicap: No

Unit 2 SqFt: 9999

Unit 2 Rent: 9999

Unit 2 Room Description: Bedrooms, Family Room, Kitchen, Living/Dining Room, Porch

Unit 2 Security Deposit: 9999

Block Identifier: 610

County Number: 16

Town Number: 1614

YB/Desc: 1837 - Approximate

Easement: No

Parking/Driveway Description: 1 Car Width

Block Identifier: 610

County Number: 16

Town Number: 1614

Possession: ASAP

Taxes, Fees & Assessments

Gross Operating Income: 9999

Net Operating Income: 9999

Tax ID For Property: 1614-00610-0000-00038-0001-

Tax Amount: $11,905.00

Tax Year: 2025

Tax Rate: 3.999%

Tax Rate Year: 2025

Land Assessment: $30,100.00

Building Assessment: $267,600.00

Total Assessment: $297,700.00

FHA Age Restricted: No

Utilities

Heat Source: Gas-Natural

Heat System: 1 Unit

Cool System: Window A/C(s)

Water: Public Water

Sewer: Public Sewer

Utilities: Electric, Gas-Natural

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Listing Details

42 Mount Prospect Ave,Newark City, NJ 07104-1012

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