250 Berkeley Ave
Newark City, NJ 07107
Price: $550,000
GSMLS: 4029437Type: Multi-Family
Style: 2-Two Story
Total Units: 2
Beds: 4
Baths: 3 Full
Garage: No
Year Built: 1999
Acres: 0.11
Property Tax: $5,878
Description
Rare investment and development opportunity in the heart of Newark's thriving Roseville section. 250-252 Berkeley Avenue, a legal two-family property, is being offered together with the neighboring institutional/commercial property as a package deal, creating an approximate combined lot size of 100 x 100.This unique assemblage presents exceptional potential for developers, investors, builders, or end-users seeking redevelopment opportunities in a rapidly growing area. Preliminary development concepts may support multiple new construction residential units, subject to buyer due diligence, zoning requirements, subdivision approvals, and municipal approvals.The existing two-family property provides immediate rental income potential and may remain tenant-occupied while developers pursue approvals, plans, and redevelopment opportunities, creating the possibility for cash flow during the planning and entitlement process.Conveniently located near major highways, public transportation, shopping, schools, and residential neighborhoods, this offering provides strong upside potential in an area experiencing continued growth and redevelopment activity.Buyer responsible for independently verify
General Info
Style:
2-Two Story
SqFt Building:
n/a
Total Rooms:
12
Basement:
Yes - Finished
Interior:
n/a
Roof:
Asphalt Shingle
Exterior:
Aluminum Siding
Lot Size:
50X100
Lot Desc:
n/a
Parking
Garage Capacity:
No
Description:
n/a
Parking:
Blacktop
Spaces Available:
n/a
Unit 1
Bedrooms:
2
Bathrooms:
1
Total Rooms:
5
Room Description:
See Remarks
Levels:
1
Square Foot:
n/a
Fireplaces:
n/a
Appliances:
Range/Oven - Gas, Refrigerator
Utilities:
Owner Pays Water, Tenant Pays Electric, Tenant Pays Gas, Tenant Pays Heat
Handicap:
No
Unit 2
Bedrooms:
2
Bathrooms:
1
Total Rooms:
5
Room Description:
Utility Room
Levels:
2
Square Foot:
n/a
Fireplaces:
n/a
Appliances:
Range/Oven - Gas, Refrigerator
Utilities:
Owner Pays Water, Tenant Pays Electric, Tenant Pays Gas, Tenant Pays Heat
Handicap:
No
Unit 3
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
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
Heating Fuel:
Gas-Natural
Cooling:
None
Water Heater:
n/a
Water:
Public Water
Sewer:
Public Available
Utilities:
Electric, Gas In Street
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:
$550,000
Tax Amount:
$5,878
Land Assessment:
$53,800
Build. Assessment:
$93,200
Total Assessment:
$147,000
Tax Rate:
4.00
Tax Year:
2025
Listing Information
MLS ID:
4029437
List Date:
05-22-2026
Days On Market:
0
Listing Broker:
REALTY ONE GROUP SUNRISE
Listing Agent:
Stanley Francois
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
