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815 Mount Prospect Ave, Newark City, NJ 07104

$550,000
: 6
BD
: 3
BA

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List Price: $550,000
Status: ACTIVE
MLS#: 4063280
Bedrooms: 6
Bathrooms: 3
County: Essex
City: Newark City
Year Built: 1895

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Property Description

Excellent investment opportunity in Newark's North Ward/Forest Hill area. This fully occupied two-family property generates $4,100 in monthly rental income ($49,200 annually). The first-floor unit, including use of the registered finished basement, rents for $2,450 per month, while the second-floor unit rents for $1,650 per month. The registered basement features three multipurpose rooms, a full bathroom, and a walk-out entrance. Ideally located along the Mt. Prospect Avenue corridor, offering convenient access to Branch Brook Park, shopping, dining, public transportation, major highways, and Downtown Newark. An attractive opportunity to acquire an established income-producing multifamily property in a convenient North Ward location.

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Additional Information

Exterior: Vinyl Siding
Lot Description: Level Lot
Basement: Yes
Garage: On-Street Parking
Water: Public Water
Sewer: Public Sewer
Fuel: Gas-Natural