488 S 12th St

Newark City, NJ 07103


 

Price: $425,000

GSMLS:  4040252
Type: Multi-Family
Style: 3-Three Story, See Remarks
Total Units: 2
Beds: 7
Baths: 3 Full
Garage: No
Year Built: 1940
Acres: 0.05
Property Tax: $10,337
Description
Investor Opportunity ? Value-Add Two-Family in Newark!Attention investors, contractors, and experienced value-add buyers! This two-family property presents an outstanding opportunity to add to your portfolio in one of Newark's established residential neighborhoods. Featuring two spacious units with 3 bedrooms each, plus a finished attic offering additional living space and flexibility, this property has the layout and potential investors are looking for.Whether your strategy is to renovate and hold for long-term rental income, reposition for increased cash flow, or add value for future appreciation, this property offers an excellent foundation with significant upside. The generous floor plans and multi-family configuration create strong income-producing potential once improvements are completed.Conveniently located near Newark Penn Station, NJ Transit, major highways, shopping, restaurants, schools, and parks, the property offers excellent accessibility for future tenants and long-term investment appeal.Property is being sold strictly As-Is. This is an ideal opportunity for cash buyers, investors, contractors, or those seeking their next renovation project. Buyer is responsible for conducting all due diligence. Don't miss the chance to unlock the full potential of this income-producing property.
General Info
Style:
3-Three Story, See Remarks
SqFt Building:
n/a
Total Rooms:
13
Basement:
Yes - Unfinished
Interior:
n/a
Roof:
Asphalt Shingle
Exterior:
Aluminum Siding
Lot Size:
22.33 X 100
Lot Desc:
n/a
Parking
Garage Capacity:
No
Description:
n/a
Parking:
On-Street Parking
Spaces Available:
n/a
Unit 1
Bedrooms:
3
Bathrooms:
1
Total Rooms:
5
Room Description:
Bedrooms, Eat-In Kitchen, Family Room, Living Room, See Remarks
Levels:
1
Square Foot:
n/a
Fireplaces:
n/a
Appliances:
See Remarks
Utilities:
Tenant Pays Electric, Tenant Pays Gas
Handicap:
No
Unit 2
Bedrooms:
4
Bathrooms:
2
Total Rooms:
8
Room Description:
Bedrooms, Eat-In Kitchen, Family Room, Living Room, See Remarks
Levels:
1
Square Foot:
n/a
Fireplaces:
n/a
Appliances:
See Remarks
Utilities:
Tenant Pays Electric, Tenant Pays Gas
Handicap:
No
Unit 3
Bedrooms:
n/a
Bathrooms:
n/a
Total Rooms:
n/a
Room Description:
Attic
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 - Electric, See Remarks
Heating Fuel:
Gas-Natural
Cooling:
Window A/C(s)
Water Heater:
n/a
Water:
Public Water
Sewer:
Public Sewer
Utilities:
Gas-Natural
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:
$425,000
Tax Amount:
$10,337
Land Assessment:
$30,500
Build. Assessment:
$228,000
Total Assessment:
$258,500
Tax Rate:
4.00
Tax Year:
2025
Listing Information
MLS ID:
4040252
List Date:
07-13-2026
Days On Market:
1
Listing Broker:
KELLER WILLIAMS VILLAGE SQUARE
Listing Agent:
Benjamin Rodriguez
 

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Shawn and Diane Fox
RE/MAX American Dream
3108 Route 10 West
Denville, NJ 07834
Call: (973) 277-7853
Web: MorrisCountyLiving.com


RE/MAX

Town & Valley II

211 Route 10 East
Succasunna, NJ 07876
Office: (973) 598-1008


Shawn and Diane Fox