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$ 890,000
Est. payment | /mo
8 Beds
5 Baths
$ 890,000
Est. payment | /mo
8 Beds
5 Baths
Key Details
Property Type Multi-Family
Sub Type 3 Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 250016220
Bedrooms 8
Full Baths 5
HOA Fees $3/mo
Annual Tax Amount $1,505
Tax Year 2024
Property Sub-Type 3 Family
Property Description
162 South 12th Street, Newark, NJ – Brand New Legal 3-Family Home | Tax Abatement Eligible Discover an exceptional investment or owner-occupant opportunity in Newark's fast-growing corridor. This brand-new construction legal 3-family home is built with size, function, and rental potential in mind. Featuring a total of 8 bedrooms, 5 bathrooms, and a bonus office/flex room, each unit offers spacious layouts, separate utilities, and in-unit laundry hookups. Unit 1 (1,500 sq ft): 2BR/1BA, 5 total rooms Unit 2 (1,621 sq ft): 3BR/2BA, 6 total rooms Unit 3 (1,621 sq ft): 3BR/2BA + Office/Flex Room, 7 total rooms Total building sq ft: approx. 4,742 Parking: 3-car garage + 2-car driveway Exterior: Modern siding with clean finishes Interior: Open layouts, generous bedrooms, and modern conveniences This property qualifies for Newark's 5-Year Tax Abatement, significantly reducing yearly taxes during the initial ownership period. Ideal for NACA buyers, veterans using VA loans, or investors seeking strong ROI and DSCR. Close to downtown Newark, universities, transit to NYC, and major redevelopment sites. Turnkey income-producing asset or perfect multi-generational setup.
Location
State NJ
County Essex
Area Newark
Rooms
Basement None
Interior
Heating Gas
Cooling Gas
Exterior
Exterior Feature Aluminum/Vinyl
Parking Features Attached
Listed by COLDWELL BANKER RESIDENTIAL BROKERAGE
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