161-167 7th - Apartments FOR SALE


Newark, NJ 07107
$1,575,000 USD
347-697-0010
161-167 7th, Newark, NJ for Sale
$1,575,000 USD
Apartments - FOR SALE
1/6
null | Request Cap Rate

161-167 7th
Newark, NJ 07107


OVERVIEW

Exceptional Investment Opportunity to secure an SRO building situated in a highly coveted neighborhood within an outstanding suburban area! SROs are becoming increasingly scarce in this locale, and the demand is incredibly high. Originally erected in the early 19th century as a splendid mansion crafted from fine stone, this property has evolved over time to obtain a single occupancy license, accommodating up to twenty individuals or couples. Each floor features a communal kitchen, and five units boast private baths. With a touch of creative TLC, this historic home can be upgraded to exude 20th-century charm. As an added bonus, the seller has devised plans proposing an extension featuring over 40 studio units at the rear of the mansion. Furthermore, the seller is open to entertaining private financing options, making this investment opportunity even more enticing! Don't miss out on this unique chance to own a piece of history with potential for lucrative returns.

FOR SALE DETAILS

PRICE

$1,575,000 USD

PRICE/SF

$176 USD /SF

# OF UNITS

4

PRICE/UNIT

$393,750

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1910

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.22 AC

LAND SF

9,583 SF

ZONING

-

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Esther SilveraSilvera Realty CoMore Info
347-697-0010

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Esther SilveraSilvera Realty CoMore Info
347-697-0010

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.