Multi-Family $ 2,395,000

37 Jay St

Newark City, NJ 07103

  • 11,724 SqFt
  • 2,178 Lot Size
  • 1940 Year Built
Exceptional opportunity to acquire a fully occupied, income-generating portfolio in one of Newark's fastest-developing neighborhoods. This rare package deal features four 3-family homes (12 units total), all located on the same block:1-37 Jay Street (Block 2850 Lot 22)2-39 Jay Street (Block 2850 Lot 23)42 Hudson Street (Block 2850 Lot 33)46 Hudson Street (Block 2850 Lot 35)Each property is 100% occupied with long-term tenants, offering immediate cash flow and minimal operating overhead. Buildings are in solid condition with low property taxes and low maintenance costs, making this an ideal hands-off asset for investors looking for scale.Current gross income is strong with additional upside through rent optimization. Ideal for 1031 exchange buyers, portfolio investors, or those seeking stable, high-density cash flow in a growth market.Located just steps from Rutgers, NJIT, Essex County College, and major transportation options. The neighborhood is surrounded by new development, infrastructure upgrades, and university expansion, positioning this package for long-term appreciation.Sold strictly as-is. This is a rare-to-market multifamily opportunity with income, location, and scalability all in one block.
Listed by REALTY ONE GROUP LEGEND

PROPERTY DETAIL

  • Key Details

    Property Type Multi-Family

    Listing Status Active

    Purchase Type For Sale

    Square Footage 11, 724 sqft

    Price per Sqft $204

    MLS Listing ID 3957601

    Year Built 1940

    Annual Tax Amount $23,403

    Tax Year 2024

    Lot Size 2,178 Sqft

  • Location

    State NJ

    County Essex

    Zoning Res

  • Rooms

    Basement Unfinished

  • Building

    Story 3

    Sewer Public Sewer

    Water Public Water

  • Interior

    Heating Electric, Gas-Natural

    Cooling No Cool

    Equipment See Remarks

    Heat Source Electric, Gas-Natural

  • Exterior

    Exterior Feature Vinyl Siding

    Utilities Available Electric, Gas-Natural

    Roof Type Asphalt Shingle, Flat

  • Others

    Ownership Fee Simple

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CONTACT

Sol Castanos
Sol Castanos

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