Commercial Real Estate for Sale at 357 Avon Ave in Newark City, NJ for $625,000

Listing data updated October 23, 2024 - 5:48pm
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357 Avon Ave | Newark City

$625,000 | 5 Baths (5 Half) | 0.0 Sq. Ft.

Prime 4-Unit Mixed-Use Property in Newark, NJ. High-Income Potential! This versatile mixed-use property offers incredible income opportunities in a highly desirable location. On the first level, there are two commercial spaces: one previously used as a hair salon and the other currently rented for $1,400/month.The second level features two newly renovated 3-bedroom apartments, both boasting fresh paint and new flooring. One unit is currently rented under market value to excellent tenants for $1,700/month, while the other is vacant and move-in ready. Both residential and commercial units have separate meters, providing ease of management. The property also includes new water heaters and a full unfinished basement, offering extra storage or expansion potential. With great tenants in place and an unbeatable location, this property is a smart investment with plenty of upside. GSMLS 3924772

Directions to property: Google Maps

MLS Listing ID: 
GSMLS 3924772
Listing Category: 
Purchase
Listing Status
Status of the Listing.
Listing Status: 
Active
Listing Status (Local): 
Active
Listing Pricing
Pricing information for this listing.
List Price: 
$625,000
Basic Property Information
Fields containing basic information about the property.
Property Type: 
Commercial
Primary Market Area: 
Newark City
Address: 
357 Avon Ave, Newark City, NJ 07108-1309, U.S.A.
County: 
Essex
Latitude: 
40.7268300
Longitude: 
-74.2064600
Directions: 
Google Maps
Public Remarks: 
Prime 4-Unit Mixed-Use Property in Newark, NJ. High-Income Potential! This versatile mixed-use property offers incredible income opportunities in a highly desirable location. On the first level, there are two commercial spaces: one previously used as a hair salon and the other currently rented for $1,400/month.The second level features two newly renovated 3-bedroom apartments, both boasting fresh paint and new flooring. One unit is currently rented under market value to excellent tenants for $1,700/month, while the other is vacant and move-in ready. Both residential and commercial units have separate meters, providing ease of management. The property also includes new water heaters and a full unfinished basement, offering extra storage or expansion potential. With great tenants in place and an unbeatable location, this property is a smart investment with plenty of upside.
Building Details
Details about the building on a property.
Stories: 
2
Year Built: 
1900
Living Area: 
0.0
Basement: 
Unfinished
Construction
Construction Materials: 
Brick/Block
Roof: 
Flat
Exterior: 
Brick/Block
Energy Information: 
Gas-Natural
Room Details
Details about the rooms in the building.
Total Bedrooms: 
0
Total Bathrooms: 
5
Total Half-Bathrooms: 
5
Utilities
Information about utilities available on the property.
Heating System: 
4+ Units, See Remarks
Heating System Fuel: 
Gas-Natural
Cooling System: 
Window A/C(s)
Water Source: 
Public Water
Sewer: 
Public Sewer
Lot/Land Details
Details about the lots and land features included on the property.
Acres: 
0.06
Lot Size (Dimensions): 
36X77.1
Waterfront: 
0
Lot Features
Driveway: 
On-Street Parking
Parking Type: 
On-Street Parking
Public Record
Parcel Number: 
1614-02630-0000-00037-0000-
Lot Number: 
37
Annual Tax: 
$7,232.00
Property Zoning: 
Commercial
Contract Details
Details about the listing contract.
Possession: 
Closing
Listing Participants
Participants (agents, offices, etc.) in the transaction.
Listing Office Name: 
RE/MAX INSTYLE

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