108 Vassar Ave
Newark City, NJ 07112
Price: $770,000
GSMLS: 4014650Type: Multi-Family
Style: 3-Three Story
Total Units: 3
Beds: 8
Baths: 4 Full
Garage: 1-Car
Year Built: 1917
Acres: 0.11
Property Tax: $11,665
Description
Projected $94,800 Annual Rental Income Vacant Legal 3-Family Weequahic " NewarkExcellent opportunity to acquire a vacant legal 3-family property in Newark's desirable Weequahic section, offering strong rental income potential and long-term appreciation. Delivered vacant, allowing the new owner to immediately establish market rents and maximize income.Unit Mix?-Unit 1 " 1st Floor: 3 Bedrooms 1 Bath " Potential Rent $3,200/month (split systems for heating & air); Unit 2 " 2nd Floor: 3 Bedrooms 1 Bath " Potential Rent $3,200/month;Unit 3 " 3rd Floor: 2 Bedrooms 1 Bath " Potential Rent $2,300/monthInvestment Highlights. Projected Monthly Income: $7,900. Projected Annual Income: $94,800;2025 Taxes: $11,665?;Pro-Forma Cap Rate: 8%+ depending on purchase price and operating expensesConveniently located near Weequahic Park, Newark Beth Israel Medical Center, public transportation, major highways, shopping, and schools, with easy access to downtown Newark, Newark Liberty International Airport, and NYC commuter routes.Strong rental demand area with limited multifamily inventory. Ideal for investors seeking an income-producing property or owner-occupants looking to offset their mortgage with rental income.
General Info
Style:
3-Three Story
SqFt Building:
5,000
Total Rooms:
21
Basement:
Yes - Full, Unfinished
Interior:
Fire Extinguisher, Smoke Detector, Tile Floors, Wood Floors
Roof:
Asphalt Shingle
Exterior:
Brick
Lot Size:
50X100
Lot Desc:
n/a
Parking
Garage Capacity:
1-Car
Description:
Detached Garage, See Remarks
Parking:
1 Car Width, Concrete, Driveway-Shared, Off-Street Parking
Spaces Available:
2
Unit 1
Bedrooms:
3
Bathrooms:
1
Total Rooms:
8
Room Description:
Bedrooms, Dining Room, Eat-In Kitchen, Living Room, Porch, Sunroom
Levels:
n/a
Square Foot:
n/a
Fireplaces:
1
Appliances:
Carbon Monoxide Detector, Range/Oven - Gas, Refrigerator
Utilities:
Owner Pays Water
Handicap:
No
Unit 2
Bedrooms:
3
Bathrooms:
1
Total Rooms:
8
Room Description:
Bedrooms, Dining Room, Eat-In Kitchen, Living Room, Pantry, Sunroom
Levels:
n/a
Square Foot:
n/a
Fireplaces:
1
Appliances:
Carbon Monoxide Detector, Range/Oven - Gas, Refrigerator
Utilities:
Owner Pays Water
Handicap:
No
Unit 3
Bedrooms:
2
Bathrooms:
1
Total Rooms:
5
Room Description:
Bedrooms, Kitchen
Levels:
n/a
Square Foot:
n/a
Fireplaces:
n/a
Appliances:
Carbon Monoxide Detector, Refrigerator
Utilities:
Owner Pays Water
Handicap:
No
Unit 4
Bedrooms:
n/a
Bathrooms:
n/a
Total Rooms:
n/a
Room Description:
n/a
Levels:
n/a
Square Foot:
n/a
Fireplaces:
n/a
Appliances:
n/a
Utilities:
n/a
Handicap:
n/a
Utilities
Heating:
Baseboard - Hotwater, Radiators - Steam
Heating Fuel:
Gas-Natural
Cooling:
See Remarks
Water Heater:
Gas
Water:
Public Water
Sewer:
Public Sewer
Utilities:
See Remarks
Services:
n/a
School Information
Elementary:
n/a
Middle:
n/a
High School:
n/a
Community Information
County:
Essex
Town:
Newark City
Neighborhood:
n/a
Financial Considerations
List Price:
$770,000
Tax Amount:
$11,665
Land Assessment:
$20,200
Build. Assessment:
$271,500
Total Assessment:
$291,700
Tax Rate:
4.00
Tax Year:
2025
Listing Information
MLS ID:
4014650
List Date:
03-16-2026
Days On Market:
0
Listing Broker:
ALEXANDER ANDERSON REAL ESTATE
Listing Agent:
Cynthia Barrett-bismuth
Request More Information
Shawn and Diane Fox
RE/MAX American Dream
3108 Route 10 West
Denville, NJ 07834
Call: (973) 277-7853
Web: MorrisCountyLiving.com
