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67 Broadway , Newark, NJ 07104

$950,000

Detail

  • Property ID: 24036221
  • Price: $950,000
  • Year Built: 1900-1939
  • Property Type: 5+ Family/Mixed Use
  • Property Status: Mixed Use

Description

Discover a highly desirable mixed-use property just five blocks from the heart of downtown, offering excellent rental income at 7.25% CAP Rate and long-term leases. This property is ideal for investors looking for a steady revenue stream with growth potential! Commercial Space (1st Floor): Spacious commercial area with a basement, currently leased for $2,570 per month with a secure 10-year lease and a 3% annual rent increase. This setup ensures reliable income with a growth trajectory for years to come. Residential Units: 2nd Floor: Fully renovated 4-bedroom, 1-bathroom apartment with a lease in place. Enjoy $2,550 in monthly rent for this renovated unit, offering a comfortable living space for tenants. 3rd Floor: 3 bedrooms, 1-bathroom unit renting at $2,000 per month. Additional Highlights: No on-site parking, but conveniently located just a short five-block walk to downtown.

  • Address: 67 Broadway
  • City: Newark
  • State/county: ESSEX / NJ
  • Zip/Postal Code: 07104
  • Country: United States

Listing provided by Christie's International Real Estate Group-Hoboken

The data relating to the real estate for sale on this web site comes in part from the Internet Data Exchange Program of the NJMLS. Real estate listings held by brokerage firms other than Prominent Properties Sotheby's International Realty are marked with the Internet Data Exchange logo and information about them includes the name of the listing brokers. Some properties listed with the participating brokers do not appear on this website at the request of the seller. Listings of brokers that do not participate in Internet Data Exchange do not appear on this website.

All information deemed reliable but not guaranteed. Last date updated: 2024-11-28 8:00 AM. Source: New Jersey Multiple Listing Service, Inc.

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