Newark City Multifamily Investment
37 Jay St, Newark, NJ 07103
- Added:
- Apr 18, 2025
- Days on Market:
- 410
- Last Refresh:
- Jun 1 at 7:06 am
Property Features for 37 Jay St
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- Res
- Rooms
- Basement
- Basement Y/N
- 1
- Standard status
- Pending
- Size
- 11,724 SF
- Lot size
- 0.05 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 23403
Utilities
- Cooling system
- None (Cooling)
Building Details
- Year built
- 1940
- Floors in Building
- 3
- Number of units
- 12
- Building materials
- Vinyl Siding
- Roof type
- Asphalt, Flat, Shingle
- Architectural style
- Other
Listing agent SOL CASTANOS (973) 686-7777
Listing office REALTY ONE GROUP LEGEND 600 GETTY AVENUE, Wayne, NJ (973) 772-0660
Listing date Apr 18, 2025
MLS# 3957601
Listing URL
Copyright © 2026 Garden State MLS, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Fully occupied portfolio of four 3‑family homes (12 units total) on the same block, providing immediate cash flow.
- Located in a rapidly developing Newark neighborhood near Rutgers, NJIT, and Essex County College.
- Low property taxes and maintenance costs, ideal for hands‑off investors.
- Strong current gross income with potential for rent optimization.
- Buildings are in solid condition with long‑term tenants.
- Proximity to major transportation options and new development, positioning the package for long‑term appreciation.
Overview
This offering presents an opportunity to acquire a fully occupied, income-generating portfolio in a developing Newark neighborhood. The package includes four 3-family homes, totaling 12 units, situated on the same block. The properties are located at 37 Jay Street, 39 Jay Street, 42 Hudson Street, and 46 Hudson Street. Each property is fully occupied with long-term tenants, providing immediate cash flow. The buildings are described as being in solid condition, with low property taxes and low maintenance costs. The current gross income is strong, with potential for further upside through rent optimization. The properties are located near Rutgers, NJIT, Essex County College, and major transportation options. The surrounding area features new development, infrastructure upgrades, and university expansion. The properties total 11724 square feet on a 0.05-acre lot. The intended use of the properties is for multifamily residential purposes. This portfolio is suitable for 1031 exchange buyers, portfolio investors, or those seeking stable cash flow in a growth market.
Property Profile
Location Intelligence
Current Use by Public Records
1031 exchange properties
Location Insight
- Map
- Local Demand
- City
- Newark
- County
- Essex
- State
- New Jersey
- Longitude
- -74.18262
- Latitude
- 40.74815
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Fully occupied multifamily portfolio in Newark's developing neighborhood.
Where is this apartment building located?
The property is located at 37 Jay St Newark, NJ.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Fully occupied portfolio of four 3‑family homes (12 units total) on the same block, providing immediate cash flow.; Located in a rapidly developing Newark neighborhood near Rutgers, NJIT, and Essex County College.; Low property taxes and maintenance costs, ideal for hands‑off investors.
