For Multi Family

472 S 16Th St,Newark City, NJ 07103-4580

February 24, 2026

3-Family Investment Property offering 9 bedrooms / 5 full baths. Renovated in 2019 with impeccable hardwood floors throughout. Separate utilities, including 3 individual HVAC systems. Semi-finished basement with separate entrance. All units have similar floor plans; However, units 2 and 3 come with primary bedrooms with en-suite / private baths. Kitchens are generously sized with expansive cabinetry and ample countertop space, featuring true eat-in layouts that accommodate dining areas. All five bathrooms include shower stalls and soaking tubs. Basement is standing height, full size, and offers substantial space with potential for additional use. The current rent roll is $5,400 per month; however, projected market rents support approximately $7,500 per month, equating to $90,000 annually. With annual taxes of approximately $6,026 the property offers strong income potential and significant upside for improved cash flow and return on investment. Proximity to NYC trains and buses. Approximately 7 minutes to Newark International airport and 20 minutes to Midtown NYC

Property ID:PT-29688771-AXZR

Offer Type:For Multi Family

Property Type:Multi-Family

Price: 650,000 $

Bedrooms:9

Year Built:1915

Listing Details

Status: Active

Location

County: Essex

Lotsize: 25X100

Lot Identifier: 39

Lot Description: Level Lot

Lot Identifier: 39

Home Details

Open Parking: 0

Basement: Yes

Renovated: 2019

Basmnt/Desc: Yes - Finished-Partially, Full, Walkout

Acreage: 0.06

Total Baths: 5.00

Unit Style: 3-Three Story

Number of Units: 3

Rooms: 17

Easement/Desc: No

Exterior Description: Aluminum Siding

Roof Description: Asphalt Shingle

Possesion: Y

Unit 1 Appliances/Equipment: Carbon Monoxide Detector, Range/Oven - Gas, Refrigerator, Smoke Detector

Unit 1 Levels: 1

Unit 1 Rooms: 5

Unit 1 Beds: 3

Unit 1 Baths: 1.0

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

Unit 1 Handicap: No

Unit 1 SqFt: 1300

Unit 1 Rent: 2100

Unit 1 Room Description: Bedrooms, Eat-In Kitchen, Living Room, Master Bedroom

Unit 1 Security Deposit: 1550

Unit 2 Appliances/Equipment: Carbon Monoxide Detector, Range/Oven - Gas, Refrigerator, Smoke Detector

Unit 2 Levels: 1

Unit 2 Rooms: 6

Unit 2 Beds: 3

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: 1425

Unit 2 Rent: 1250

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

Unit 3 Appliances/Equipment: Carbon Monoxide Detector, Range/Oven - Gas, Refrigerator, Smoke Detector

Unit 3 Levels: 1

Unit 3 Rooms: 6

Unit 3 Beds: 3

Unit 3 Baths: 2.0

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

Unit 3 Handicap: No

Unit 3 SqFt: 1425

Unit 3 Rent: 2100

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

Unit 3 Security Deposit: 1750

Block Identifier: 328

County Number: 16

Town Number: 1614

YB/Desc: 1915 - Approximate

Easement: No

Parking/Driveway Description: On-Street Parking

Block Identifier: 328

County Number: 16

Town Number: 1614

Possession: Y

Taxes, Fees & Assessments

Gross Operating Income: 1

Net Operating Income: 1

Tax ID For Property: 1614-00328-0000-00039-0000-

Tax Amount: $6,026.00

Tax Year: 2025

Tax Rate: 3.999%

Tax Rate Year: 2025

Land Assessment: $31,300.00

Building Assessment: $119,400.00

Total Assessment: $150,700.00

FHA Age Restricted: No

Utilities

Water Heater: Gas

Heat Source: Gas-Natural

Heat System: 3 Units, Forced Hot Air

Cool System: None

Water: Public Water

Sewer: Public Sewer

Utilities: Electric, Gas-Natural

Services: Cable TV Available, Fiber Optic Available

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Listing Details

472 S 16Th St,Newark City, NJ 07103-4580

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