NJ > Newark City
Newark City, NJ 07105,48 Elm Rd
Newark City, NJ 07105,48 Elm Rd
Newark City, NJ 07105,48 Elm Rd
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Steven Pagan

Steven Pagan

+1(609) 631-5668
$600,000
Est. payment /mo
3,049 Sqft Lot
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UPDATED:

09/28/2024 04:08 PM

Key Details

Property Type Vacant Land

Listing Status Active

Purchase Type For Sale

MLS Listing ID 3923416

HOA Y/N No

Annual Tax Amount $9,707

Tax Year 2023

Lot Size 3,049 Sqft

Property Description

Discover an exceptional development opportunity at 48 Elm Rd in the sought-after Ironbound section of Newark, NJ. This property comes with city-approved plans for transforming the existing commercial office space into a modern boutique three-family residence. The approved plans include a spacious 2,160-square-foot garage on the ground floor, complemented by an additional 365-square-foot outdoor patio area. The second floor features two units: Unit 201, a 2-bedroom, 2-bathroom apartment totaling 845 SF, and Unit 202, another 2-bedroom, 2-bathroom unit with 797 SF. The third floor boasts a luxurious 3-bedroom, 3-bathroom apartment with a den, office, living room, kitchen, and terrace spanning 1,697 SF. Key features of the development include Garage: On-site parking for 3 cars. Elevator: Convenient access from the ground floor to the rooftop. Rooftop Garden Lounge: A deck that can accommodate up to 20 people. High-End Finishes: Hardwood floors, central AC, energy-efficient lighting, and brand-new appliances in each unit. In-unit laundry: Each apartment includes a washer/dryer for added convenience. Private financing for acquisition and construction is available upon request. Whether you build and hold or sell the completed units, this project presents a promising opportunity for significant returns on investment. Located just minutes from Newark Penn Station, with easy access to NY Penn Station, it is a prime choice for developers ready to capitalize on the area's growth.

Location

State NJ

County Essex

Building

Sewer Public Sewer in Street

Water Public Water on Property

Others

Senior Community No

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Garden State MLS(GSMLS)
Information deemed reliable but not guaranteed. Copyright © 2024 Garden State Multiple Listing Service, L.L.C. All rights reserved.
Listed by COMPASS NEW JERSEY LLC
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Our passion for real estate and love for New Jersey are a perfect match. We have made it our mission to help local residents sell their homes quickly and at the best possible prices, and  homebuyers in finding their perfect piece of paradise in New Jersey. 

+1(609) 631-5668

steven.pagan@foxroach.com

352 Stokes Rd, Medford, NJ, 08055, USA

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