$600,000
48 Elm Rd Newark City, NJ 07105
15
See all 15 photos
$600,000
Est. payment /mo
7 BD
7 BA
3,339 SqFt
Active
48 Elm Rd Newark City, NJ 07105
UPDATED:
09/25/2024 12:53 PM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 3,339 sqft
Price per Sqft $179
MLS Listing ID 3923989
Style 3-Three Story
Bedrooms 7
Full Baths 7
Annual Tax Amount $9,707
Tax Year 2023
Lot Size 3,049 Sqft
Property Description
Discover an exceptional development opportunity at 48 Elm Rd in the sought-after Ironbound section of Newark, NJ. This property comes with city-approved plans for transforming the existing commercial office space into a modern boutique three-family residence. The approved plans include a spacious 2,160-square-foot garage on the ground floor, complemented by an additional 365-square-foot outdoor patio area. The second floor features two units: Unit 201, a 2-bedroom, 2-bathroom apartment totaling 845 SF, and Unit 202, another 2-bedroom, 2-bathroom unit with 797 SF. The third floor boasts a luxurious 3-bedroom, 3-bathroom apartment with a den, office, living room, kitchen, and terrace spanning 1,697 SF. Key features of the development include Garage: On-site parking for 3 cars. Elevator: Convenient access from the ground floor to the rooftop. Rooftop Garden Lounge: A deck that can accommodate up to 20 people. High-End Finishes: Hardwood floors, central AC, energy-efficient lighting, and brand-new appliances in each unit. In-unit laundry: Each apartment includes a washer/dryer for added convenience. Private financing for acquisition and construction is available upon request. Whether you build and hold or sell the completed units, this project presents a promising opportunity for significant returns on investment. Located just minutes from Newark Penn Station, with easy access to NY Penn Station, it is a prime choice for developers ready to capitalize on the area's growth.
Location
State NJ
County Essex
Interior
Heating See Remarks
Cooling See Remarks
Heat Source See Remarks
Exterior
Exterior Feature See Remarks
Garage Built-In Garage
Garage Spaces 3.0
Roof Type See Remarks
Building
Architectural Style 3-Three Story
Others
Senior Community No
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Listed by COMPASS NEW JERSEY LLC
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