NJ > Newark City
Newark City, NJ 07103,37 Jay St
Newark City, NJ 07103,37 Jay St
Newark City, NJ 07103,37 Jay St
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$2,395,000
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11,724 SqFt
Price Dropped by $100K

37 Jay St Newark City, NJ 07103

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Jonathan Greene

Jonathan Greene

+1(973) 873-0734

UPDATED:

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

Rooms

Basement Unfinished

Interior

Heating Electric, Gas-Natural

Cooling No Cool

Equipment See Remarks

Heat Source Electric, Gas-Natural

Exterior

Exterior Feature Vinyl Siding

Utilities Available Electric, Gas-Natural

Roof Type Asphalt Shingle, Flat

Building

Story 3

Sewer Public Sewer

Water Public Water

Others

Ownership Fee Simple

Garden State MLS(GSMLS)
Information deemed reliable but not guaranteed. Copyright © 2025 Garden State Multiple Listing Service, L.L.C. All rights reserved.
Listed by REALTY ONE GROUP LEGEND

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agent

Jonathan Greene

Team Leader | License ID: 1433604

+1(973) 873-0734

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37 Jay St

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