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285 Weequahic Ave, Newark City, NJ 07112

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For Sale

$389,000

5 beds • 1 baths

Estimated Payment

$      /mo. †

APR for 30 years

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  • Multi-Family (2-4 Units)
    Property type

  • Basement
    Rooms

  • Basement
    Amenities

Explore this Property

This is a 1-family investment opportunity zoned for a 2 to 3-family in Newark that NEEDS city approvals from the township to convert into a 2 -3-family home. Brand new siding and ready for your completion with your final touches. The current owner's lender estimated an after-repair value of $625-645K+. With pending permits, there's an opportunity for the buyer to continue the project, unlocking even greater potential. Options abound to enhance the property's value, including extending the home on the second floor and replacing the deck to create additional rooms and a bathroom. Alternatively, convert into a 2-family home with relevant city approvals. A renovated basement will add further value, providing additional recreational space and elevating the after-repair value to $600-650K+. Located near all modes of public transport Once done; this property will have a good amount of equity since renovated homes go above $680k.Can Features a 2 bed / 1 bath on the first floor & a 5 bed / 1 bath duplex on the 2nd floor to make a Master suite.+ private driveway with garage. New roof and windows replaced Close commute to NYC, Newark airport, highways, and public transportation also Weequahic Park, schools, and Newark Beth Israel hospital. This home Won't last!
MLS# 3879238

Courtesy Of eXp Realty, LLC

(866) 201-6210

Property Features

  • Amenities
    Basement, Attic
  • Appliances
    Refrigerator
  • Architecture Style
    Other
  • Cooling System
    None
  • Exterior Type
    Vinyl Siding
  • Lot Size
    0.09 Acres
  • Roof Type
    Asphalt
  • Rooms
    Basement, Bedroom, Den, Eat-In Kitchen, Family Room, Full Bath, Living Room

Map and Directions

Directions to 285 Weequahic Ave, Newark City, NJ 07112

Home seller CENTURY 21 Full Service Realty

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CENTURY 21 Full Service Realty

(845) 639-1234
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Monthly Payment Breakdown

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This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person's eligibility to attend a school or to use or benefit from other city, town or local services.

† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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