31-33 Chester Ave Newark, NJ 07104

Property Details for 31-33 Chester Ave

Year built

2008

Property size

3,822 SF

Property type

Commercial real estate

Description

This exceptional three-story, 2-family home presents a lucrative investment opportunity in Newark, NJ. Built in 2008 and meticulously maintained, this Class A property boasts 3,822 square feet on a 3,098 square foot lot located at 31-33 Chester Ave, Newark, NJ 07104. The property features two spacious units, each offering three bedrooms and two full bathrooms. Open living areas create comfortable and inviting spaces within each unit. A fully finished recreation room provides additional living space, potentially increasing rental income or enhancing the owner-occupied unit's appeal. Situated in the heart of North Newark, this property offers unparalleled convenience with easy access to McCarter Highway, ensuring effortless commuting for residents. The property's strong financial performance is highlighted by a 7.80% cap rate, calculated based on market rents. This exceptional property is ideal for both investors seeking high returns and owner-occupants looking for a luxurious residence with rental income potential. This is a rare opportunity to acquire a like-new, income-producing asset in a prime location. The property's excellent condition and desirable features make it a truly exceptional investment.