136 Elm St new Save Request In-Person Tour Request Virtual Tour
Newark City,NJ 07105
Key Details
Property Type Single Family Home
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 3,600 sqft
Price per Sqft $1,083
MLS Listing ID 3964131
Year Built 1930
Annual Tax Amount $28,522
Tax Year 2024
Lot Size 2,613 Sqft
Property Sub-Type Mixed Use
Property Description
Discover this exceptional income-producing commercial property situated prominently at the corner of Elm Street and Pacific Street in the heart of the vibrant Ironbound section of Newark. Located just 3 minutes from the Prudential Center and 5 minutes from Newark Penn Station, this mixed-use building offers unparalleled convenience and accessibility. The property features 10 total units, including 8 luxury residential apartments and 2 commercial storefronts. The residential layout includes one 1-bedroom, four 2-bedroom, and three 3-bedroom high-end apartments, all thoughtfully designed to appeal to discerning tenants. Each residential unit boasts an open-concept layout, seamlessly connecting the living room and eat-in kitchen, featuring sleek quartz countertops. These units also offer spacious bedrooms, modern bathrooms, and the convenience of an in-unit washer and dryer, with central air and forced hot air throughout. The ground floor hosts two well-established businesses: a charming flower shop and a popular restaurant, providing steady commercial income and neighborhood foot traffic. With modern finishes, a prime location, and high rental demand, this building presents a rare chance to own a well-maintained, turn-key property in one of Newark's most desirable neighborhoods. This is a perfect opportunity for investors looking for both appreciation and consistent rental income.
Location
State NJ
County Essex
Zoning 4A
Interior
Heating Electric, Gas-Natural
Cooling Central Air
Equipment Exhaust System, Smoke Detector
Heat Source Electric, Gas-Natural
Exterior
Exterior Feature Brick/Block
Utilities Available Electric, Gas-Natural
Roof Type Flat
Building
Lot Description Corner
Story 3
Sewer Public Sewer
Water Public Water
Others
Ownership Fee Simple