Newark City, NJ 07105,48 Elm Rd
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Newark City, NJ 07105,48 Elm Rd
Newark City, NJ 07105,48 Elm Rd
Newark City, NJ 07105,48 Elm Rd
Newark City, NJ 07105,48 Elm Rd
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48 Elm Rd Newark City, NJ 07105

7 Beds

7 Baths

3,339 SqFt


UPDATED:

09/25/2024 12:53 PM

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 3,339 sqft

Price per Sqft $179

MLS Listing ID 3923989

Style 3-Three Story

Bedrooms 7

Full Baths 7

Annual Tax Amount $9,707

Tax Year 2023

Lot Size 3,049 Sqft

Property Description

Discover an exceptional development opportunity at 48 Elm Rd in the sought-after Ironbound section of Newark, NJ. This property comes with city-approved plans for transforming the existing commercial office space into a modern boutique three-family residence. The approved plans include a spacious 2,160-square-foot garage on the ground floor, complemented by an additional 365-square-foot outdoor patio area. The second floor features two units: Unit 201, a 2-bedroom, 2-bathroom apartment totaling 845 SF, and Unit 202, another 2-bedroom, 2-bathroom unit with 797 SF. The third floor boasts a luxurious 3-bedroom, 3-bathroom apartment with a den, office, living room, kitchen, and terrace spanning 1,697 SF. Key features of the development include Garage: On-site parking for 3 cars. Elevator: Convenient access from the ground floor to the rooftop. Rooftop Garden Lounge: A deck that can accommodate up to 20 people. High-End Finishes: Hardwood floors, central AC, energy-efficient lighting, and brand-new appliances in each unit. In-unit laundry: Each apartment includes a washer/dryer for added convenience. Private financing for acquisition and construction is available upon request. Whether you build and hold or sell the completed units, this project presents a promising opportunity for significant returns on investment. Located just minutes from Newark Penn Station, with easy access to NY Penn Station, it is a prime choice for developers ready to capitalize on the area's growth.

Location

State NJ

County Essex

Interior

Heating See Remarks

Cooling See Remarks

Heat Source See Remarks

Exterior

Exterior Feature See Remarks

Garage Built-In Garage

Garage Spaces 3.0

Roof Type See Remarks

Building

Architectural Style 3-Three Story

Others

Senior Community No


Garden State MLS(GSMLS)
Listed by COMPASS NEW JERSEY LLC

Lena Pesso

Broker Associate | License ID: 0901285

+1(973) 368-3801

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48 Elm Rd