For Sale

544 Springfield Ave,Newark City, NJ 07103-1746

March 5, 2026

Fully Renovated 6-Family Multifamily Investment Opportunity in Newark NJ. 12 Bedrooms 7.5 Baths Turnkey Income-Producing Asset. Strong cash flow with two vacant units offering immediate lease-up and rental upside: updated interiors, separate utilities, and solid in-place income. A full basement adds storage and potential value. Prime location near major highways, public transportation, shopping, and downtown Newark. High-demand rental market with strong long-term appreciation and portfolio growth potential.

Property ID:PT-30711854-AXZR

Offer Type:For Sale

Property Type:Apartment Complex

Price: 1,200,000 $

Year Built:1930

Listing Details

Status: Active

Location

County: Essex

Lotsize: 31.11X60.7

Lot Description: Level Lot, Open Lot

Property Type: Apartment Complex

Lot Identifier: 3

Home Details

Location: Business District, Residential Area

Acreage: 0.04

Sale Includes: Building & Land

Renovated: 2026

Construction: Brick/Block

Exterior Description: Brick/Block

Roof Description: Flat

Number of Units: 6

Number of Lavatories: 7

Parking Desc: On-Street Parking

Easement/Desc: No

Basmnt/Desc: Yes - Finished, Full

YB/Desc: 1930 - Approximate, Renovated

Block Identifier: 314

County Number: 16

Town Number: 1614

Possession: TBD

Taxes, Fees & Assessments

For Sale Or Lease: For Sale

Documents Available: Leases

Ownership: Fee Simple

Tax ID For Property: 1614-00314-0000-00003-0000-

Tax Amount: $10,305.00

Tax Year: 2025

Tax Rate: 3.999%

Tax Rate Year: 2025

Land Assessment: $120,000.00

Building Assessment: $137,700.00

Total Assessment: $257,700.00

Utilities

Equipment Available: Smoke Detector, Sprinkler System

Heat Source: Gas-Natural

Heat System: 4+ Units

Cool System: 4+ Units

Water: Public Water

Sewer: Public Available

Utilities: Gas-Natural

Other

Permitted Use: For a 6-Family

Zoning: C2

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Listing Details

544 Springfield Ave,Newark City, NJ 07103-1746

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