770 Mount Prospect Ave Newark, NJ 07104

This exceptional 15,600 square foot commercial and residential land parcel presents a lucrative development opportunity in Newark, New Jersey's thriving North Ward, bordering Belleville. Located on Mt. Prospect Avenue, a major thoroughfare connecting Newark and Belleville, this site benefits from high visibility and convenient access to public transportation. The property is zoned R-3, permitting the construction of four three-family homes following subdivision. Each resulting lot would measure approximately 30 x 130 feet. The Broad Street train station is conveniently located approximately 2.5 miles away, and bus stops are situated directly on the block, enhancing accessibility for future residents. Given the strong market demand, new three-family homes in this neighborhood currently command sale prices exceeding $950,000. This presents a significant return on investment potential for a developer. The asking price for this exceptional development site is $1,050,000. The address is 770 Mt Prospect Ave, Newark, NJ 07104, in Essex County.