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    896 S 16Th St Newark, NJ 07108

    For Sale
    $879,999

    Three-family residence near transit, highways, parks, retail, and schools.

    Lot size:
    0.11 Acres

    Property Features for 896 S 16Th St

    General Information

    Lot size
    0.11 Acres

    Building Details

    Year built
    2007

    Source: RE/MAX NEW MILLENNIUM GROUP Agent RICHARD OVEDHE

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Spacious Three-Family Residence in Newark

    This expansive three-family residence presents an investment opportunity, situated on an oversized lot near I-78, the Garden State Parkway, and transit options. The property features impressive square footage and a location near downtown Newark. Each of the three units includes high ceilings, natural light, and versatile floor plans. The extra-large lot provides outdoor space suitable for parking, gardening, or future enhancements. The property is located within walking distance of NJ Transit, major highways, parks, retail centers, and educational institutions.
    Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Gym & Fitness Food Market

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Newark
    County
    Essex
    State
    New Jersey
    Longitude
    -74.2125101
    Latitude
    40.7243326

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    FAQs

    What type of property is this?
    Multifamily property - Three-family residence near transit, highways, parks, retail, and schools.
    Where is this multifamily property located?
    The property is located at 896 S 16Th St Newark, NJ.
    What is the asking price?
    The asking price for this property is $879,999.
    What are key features of this property?
    This property features: - Prime location near I-78, Garden State Parkway, NJ Transit, and downtown Newark.; - Oversized lot offering valuable outdoor space and potential for expansion or parking.; - Three generously sized units with high ceilings and abundant natural light.
    (908) 282-1234
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    Newark, NJ 07108
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    896 S 16Th St Newark, NJ 07108
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