67 Broadway
Newark, NJ 07104
#24036221
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.
Construction Details
- StyleRes/Com Mixed
- Property TypePurchase
- SubstyleRtl/Apt
Condition
- Year Built1900-1939
Community and Neighborhood Details
- CountyESSEX
Financial Details
- Taxes Annual$9,586
Other
- MLS #24036221
Location
Legal
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 Salvatore Bocchino 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: 01/09/2023
2023 New Jersey Multiple Listing Service, Inc. All rights reserved.
Last Updated: . Source: NJMLS
Listing Courtesy
Listing Agent: Maikol Puebla (#1014646), Phone: (201) 710-0598
Listing Office: Christie's International Real Estate Group-Hoboken (#271406)
Note: The results shown are estimates only and do not include all factors. Speak with a licensed agent or loan provider for exact details. This tool is sourced from CloseHack.
