1. New Jersey
2. Newark City
3. 901 S 16Th St

901 S 16Th St, Newark City, NJ 07108

• 7 beds |
• 3 baths

Property Description

Built in 2020, this modern multi-unit offers both immediate rental income and future potential. Currently configured as a legal two-unit and zoned with permits approved for three-unit use, this property is ideal for investors or owner-occupants. Unit 1 is vacant and includes access to the basement, which has the potential to be converted into a third legal unit with construction plans included. Unit 2 is tenant-occupied, generating $2,600 per month, including $100 for driveway parking. One year of tax abatement remains, providing reduced expenses and more substantial cash flow. Additional features include an oversized garage with off-street parking, newer construction with updated systems and modern finishes, and a prime Newark location near schools, shopping, major highways, and public transportation to New York City. This is a rare opportunity to purchase a low-maintenance property with existing rental income and significant upside for long-term value and appreciation.

Listing Status:

Active

Listing Office:

REAL : 855-450-0442

MLS ID:

3981716

Interior

• General: Carbon Monoxide DetectorFire ExtinguisherHigh CeilingsIntercomShadesSmoke DetectorVinyl-Linoleum FloorsWalk-In Closet
• A/C: Central Air
• Heating: 2 UnitsForced Hot AirElectricGas-Natural

Exterior

Construction

Location

Lot

Utilities

Financial

This listing courtesy of REAL