37 Jay St Active Save Request In-Person Tour Request Virtual Tour
Newark City,NJ 07103
Key Details
Property Type Multi-Family, Condo
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
Property Description
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.
Location
State NJ
County Essex
Zoning Res
Interior
Heating Electric, Gas-Natural
Cooling No Cool
Equipment See Remarks
Exterior
Exterior Feature Vinyl Siding
Utilities Available Electric, Gas-Natural
Roof Type Asphalt Shingle, Flat
Building
Story 3
Sewer Public Sewer
Water Public Water