About 901-903 S 16th Street
Built in 2020, this modern multi-unit offers both immediate rental income and future potential. Currently configured as a legal two-unit and zoned with permits approved for three-unit use, this property is ideal for investors or owner-occupants. Unit 1 is vacant and includes access to the basement, which has the potential to be converted into a third legal unit with construction plans included. Unit 2 is tenant-occupied, generating $2,600 per month, including $100 for driveway parking. One year of tax abatement remains, providing reduced expenses and more substantial cash flow. Additional features include an oversized garage with off-street parking, newer construction with updated systems and modern finishes, and a prime Newark location near schools, shopping, major highways, and public transportation to New York City. This is a rare opportunity to purchase a low-maintenance property with existing rental income and significant upside for long-term value and appreciation.
Features of 901-903 S 16th Street
| MLS® # | 25029698 |
|---|---|
| Price | $895,000 |
| Bedrooms | 7 |
| Bathrooms | 5.00 |
| Full Baths | 4 |
| Half Baths | 1 |
| Type | 2-4 Family |
| Status | Active |
Community Information
| Address | 901-903 S 16th Street |
|---|---|
| City | Newark |
| County | ESSEX |
| State | NJ |
| Zip Code | 07108 |
Amenities
| Utilities | Electricity Connected, Natural Gas Connected, Sep Heat, Water Connected |
|---|---|
| Is Waterfront | No |
| Has Pool | No |
Interior
| Fireplace | No |
|---|---|
| Has Basement | No |
Additional Information
| Date Listed | August 16th, 2025 |
|---|---|
| Foreclosure | No |
| RE / Bank Owned | No |
Listing Details
| Agent | Vivian D. Kelly |
|---|---|
| Office | Real |