Renovated Three-Family
For Sale
$775,000
51 Myrtle Ave 3, Newark, NJ 07107
Renovated three-family property with current tenant occupancy and two month-to-month units for flexible leasing options.
Property SizeContact for details
Days on Market54
Property Features for 51 Myrtle Ave 3
General Information
Standard status
Active
Property subtype
Multi Family
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$13,456
Building Details
Year Built
1952
Units
3
Listing Agency:
PROMINENT PROPERTIES SIR
(973) 744-5544
Listed By:
TIFFANY BOOKER · License #304502
Source:
Elliman
Added: Jun 19
Changed: Aug 8
Last Checked: Aug 10 at 7:51AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of PROMINENT PROPERTIES SIR
Investment Insights
Based on property information with market context.
This renovated three-family home is currently occupied and configured as three separate residential units. The property has undergone significant renovation work within the last few years, providing updated interior conditions for long-term rental use. Two of the units are on month-to-month leases, giving the next owner added flexibility relative to fixed-term tenancies while maintaining occupancy across the building.
The property is located in Newark and is described as being convenient to public transportation, local shopping, and essential services. WalkScore is listed as 69 (somewhat walkable) and transitScore is listed as 61 (good transit), with a bikeScore of 50 (bikeable), supporting everyday accessibility for tenants.
For investors or owner-occupants, this setup offers a practical mix of stability and flexibility, with the building operating under current tenant occupancy and two units on month-to-month terms. Prospective buyers should review the specific lease dates and unit-by-unit arrangements, given the variation in lease structure across the property.
The property is located in Newark and is described as being convenient to public transportation, local shopping, and essential services. WalkScore is listed as 69 (somewhat walkable) and transitScore is listed as 61 (good transit), with a bikeScore of 50 (bikeable), supporting everyday accessibility for tenants.
For investors or owner-occupants, this setup offers a practical mix of stability and flexibility, with the building operating under current tenant occupancy and two units on month-to-month terms. Prospective buyers should review the specific lease dates and unit-by-unit arrangements, given the variation in lease structure across the property.
Key Highlights
- Renovated three‑family home built in 1952 with current tenant occupancy
- Two units are on month‑to‑month leases, allowing flexible leasing changes
- Significant renovations completed within the last few years
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,322
Businesses Nearby
Explore this area
Business Placement
Demographics for 07107, NJ
41,627
Population
16,084
Households
2.6
Avg Household Size
33
Median Age
13%
College-Educated
77%
High-School Grad
1.6 sq mi
ZIP Area
26,017
Density / Sq Mi
$49,892
Median Household Income
$35,700
Median Earnings
$1,259
Median Rent
$353,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Renovated three-family property with current tenant occupancy and two month-to-month units for flexible leasing options.
Where is this triplex located?
The property is located at 51 Myrtle Ave 3 Newark, NJ.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Renovated three‑family home built in 1952 with current tenant occupancy; Two units are on month‑to‑month leases, allowing flexible leasing changes; Significant renovations completed within the last few years
