28
See all 28 photos
$649,999
Est. payment /mo
2,613 Sqft Lot
Under Contract
504 Springfield Ave Newark City, NJ 07103
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Key Details
Property Type Single Family Home
Sub Type Mixed Use
Listing Status Under Contract
Purchase Type For Sale
MLS Listing ID 4017527
Year Built 1947
Annual Tax Amount $10,713
Tax Year 2024
Lot Size 2,613 Sqft
Property Sub-Type Mixed Use
Property Description
Mixed-Use Building: Taxes 10,713 Lot 24x105 offers both commercial and residential income opportunities. The first floor retail unit previously occupied by a pharmacy, making it an excellent opportunity for a variety of potential businesses. The 2nd and 3rd floors each include large, residential apartments with 3 or potential for 4 bedrooms 1 bathroom. (Note: some bedrooms do not include a closet.) These units offer high ceilings, generous layouts, & both front and rear stair access. Separate utilities, Unfinished basement w/ bilco door. Building upgrades completed in 2006, including updated electrical systems, central air, hot water baseboard heating. The property is being sold as-is, presenting a fantastic opportunity for an investor or owner-occupant to add value and maximize income. Store Rent Potential $2,500 - $3,000 - (Potential Annual Income $100,000 -$110,000(+/-) - Total 4,700 sq ft (+/-) Basement is 1,229 sq ft Retail Floor is 1,099 Sq ft - 2nd Floor Unit is 1,184sqft, 3rd Floor Unit is 1,184 sq ft (SQ FT Measurement calculated by the Matterport System and should be approx.
Location
State NJ
County Essex
Zoning Mixed Use
Rooms
Basement Unfinished
Interior
Heating Gas-Natural
Cooling 1 Unit, Central Air
Flooring Vinyl-Linoleum
Equipment See Remarks, Sign - Roof, Smoke Detector
Heat Source Gas-Natural
Exterior
Exterior Feature Brick/Block
Utilities Available Electric, Gas-Natural
Roof Type Flat
Building
Lot Description Level Lot
Story 3
Sewer Public Sewer
Water Public Water
Others
Ownership Fee Simple
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