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$549,000
Est. payment /mo
2 Beds
4 Baths
9,999 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 9,999 sqft
Price per Sqft $54
MLS Listing ID 3976630
Style Fixer Upper
Bedrooms 2
Full Baths 4
Year Built 1930
Annual Tax Amount $15,849
Tax Year 2024
Lot Size 6,098 Sqft
Property Description
Introducing a Prime Investment Opportunity in a Highly Desirable Location! This captivating brick building offers exceptional versatility, serving both immediate commercial use and lucrative developmental prospects within the ARC-4 zoning district, as part of the Sussex Ave Redevelopment Plan. IMMEDIATE COMMERCIAL USE: The existing structure features sizable garages and multiple rooms, ideal for warehousing or office space, offering immediate rental income potential as you plan for future development. DEVELOPMENT POTENTIAL: With unapproved plans to convert the building into 14 residential units as of right, this property presents a significant opportunity to capitalize on the zoning benefits and strategic location. EXPANSION OPPORTUNITY: Consider expanding your investment by purchasing the adjacent city-owned property, where plans allow for the addition of 17 more residential units, further enhancing profitability. Positioned in a sought-after area with easy access to essential amenities, public transportation, and community facilities, making it attractive for both commercial tenants and future residents. Seize this unique opportunity to invest in a property offering both immediate commercial returns and substantial long-term development potential. Schedule a showing today to explore the endless possibilities this remarkable building holds for your portfolio!
Location
State NJ
County Essex
Interior
Heating Gas-Natural
Cooling See Remarks
Heat Source Gas-Natural
Exterior
Exterior Feature Brick
Parking Features Garage Parking
Garage Spaces 2.0
Utilities Available All Underground
Roof Type Rubberized
Building
Sewer Public Sewer
Water Public Water
Architectural Style Fixer Upper
Others
Senior Community No
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Listed by KELLER WILLIAMS VALLEY REALTY