About 901-903 S 16th Street
Built in 2020, this modern multi-unit offers both immediate rental income and future potential. Currently configured as a legal two-unit and zoned with permits approved for three-unit use, this property is ideal for investors or owner-occupants. Unit 1 is vacant and includes access to the basement, which has the potential to be converted into a third legal unit with construction plans included. Unit 2 is tenant-occupied, generating $2,600 per month, including $100 for driveway parking. One year of tax abatement remains, providing reduced expenses and more substantial cash flow. Additional features include an oversized garage with off-street parking, newer construction w/updated systems and modern finishes, and a prime Newark location near schools, shopping & public transportation to NYC.
Features of 901-903 S 16th Street
| MLS® # | 2604868R |
|---|---|
| Price | $895,000 |
| Square Footage | 3,621 |
| Acres | 0.08 |
| Year Built | 2020 |
| Type | Residential Income |
| Sub-Type | 2 Family |
| Status | Active |
Community Information
| Address | 901-903 S 16th Street |
|---|---|
| City | Newark |
| County | Essex |
| State | NJ |
| Zip Code | 07108 |
Amenities
| Utilities | Electricity Connected, Natural Gas Connected |
|---|---|
| Parking | Garage, Built-In Garage, 3-4 Car Parking |
| # of Garages | 2 |
| Is Waterfront | No |
| Has Pool | No |
Interior
| Interior Features | Unit 1(Dining Room,4 Bedrooms,Kitchen,Laundry Hookup,1 1/2 Baths,2+ Baths,Den/Family Room), Unit 2(Dining Room,3 Bedrooms,Kitchen,Laundry Hookup,1 1/2 Baths,2+ Baths,Den/Family Room) |
|---|---|
| Appliances | Water Heater(Gas), Water Heater, Unit 1(Range/Oven,Refrigerator), Unit 2(Range/Oven,Refrigerator) |
| Heating | Forced Air |
| Cooling | A/C Central - All,A/C Multi-Zone, Unit 1(A/C Central), Unit 2(A/C Central) |
| Fireplace | No |
| # of Stories | 3 |
| Has Basement | No |
Exterior
| Exterior Features | Patio, Screen/Storm Window, Yard |
|---|---|
| Lot Description | Near Shopping, Near Public Transit |
| Roof | Asphalt |
Additional Information
| Days on Market | 39 |
|---|
Listing Details
| Office | REAL |
|---|