270 Montclair Ave , Newark City, NJ 07104-2342

This spectacular four-family property is perfectly situated in the highly sought-after Forest Hills neighborhood of Newark. Boasting a total of five bedrooms and four bathrooms, this property offers ample living space of approximately 2,960 square feet. Nestled on an oversized lot measuring 66 x 135 square feet, this investment opportunity promises both comfort for your pocket $$$ and convenience for tenants. Floor plan is thoughtfully designed. The first level has two units side by side. On the second level, there are another two units, also side by side. The third level contains an attic which can be combined with one of the second-level units to create a two-bedroom unit, or it can be kept separate, making it a potential fifth unit. The potential annual rental income is $90,000, with annual taxes amounting to $10,401. This results in a net annual income of $79,599 before utilities and debt servicing charges. Current rent roll is approx $57,000 annually). The basement is full, with standing height, and features a separate walkout. This well-maintained property is move-in ready and includes a new roof, new heating system, a two-car garage, and parking for at least six cars side by side. (Pls note utilities are not separated) .This is a commuter’s delight, conveniently located near a NYC bus stop, within walking distance to NYC light rail to Newark Penn Station, 10 minutes from Newark Liberty Airport, and close to major highways and shopping malls. (Hard Money or Cash only)