161-167 7th
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161-167 7th
4 Unit Apartment Building $1,575,000 ($393,750/Unit) Newark, NJ 07107
Executive Summary
Exceptional Investment Opportunity to secure an SRO building situated in a highly coveted neighborhood within an outstanding suburban area! SROs are becoming increasingly scarce in this locale, and the demand is incredibly high.
Originally erected in the early 19th century as a splendid mansion crafted from fine stone, this property has evolved over time to obtain a single occupancy license, accommodating up to twenty individuals or couples. Each floor features a communal kitchen, and five units boast private baths. With a touch of creative TLC, this historic home can be upgraded to exude 20th-century charm.
As an added bonus, the seller has devised plans proposing an extension featuring over 40 studio units at the rear of the mansion. Furthermore, the seller is open to entertaining private financing options, making this investment opportunity even more enticing! Don't miss out on this unique chance to own a piece of history with potential for lucrative returns.
Originally erected in the early 19th century as a splendid mansion crafted from fine stone, this property has evolved over time to obtain a single occupancy license, accommodating up to twenty individuals or couples. Each floor features a communal kitchen, and five units boast private baths. With a touch of creative TLC, this historic home can be upgraded to exude 20th-century charm.
As an added bonus, the seller has devised plans proposing an extension featuring over 40 studio units at the rear of the mansion. Furthermore, the seller is open to entertaining private financing options, making this investment opportunity even more enticing! Don't miss out on this unique chance to own a piece of history with potential for lucrative returns.
Property Facts
| Price | $1,575,000 | Property Subtype | Apartment |
| Price Per Unit | $393,750 | Lot Size | 0.22 AC |
| Sale Type | Investment | Building Size | 8,956 SF |
| No. Units | 4 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1910 |
| Price | $1,575,000 |
| Price Per Unit | $393,750 |
| Sale Type | Investment |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Lot Size | 0.22 AC |
| Building Size | 8,956 SF |
| No. Stories | 3 |
| Year Built | 1910 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 4 | - | - |
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Walk Score ®
Very Walkable (79)
Transit Score ®
Excellent Transit (71)
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161-167 7th
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