587 S Orange Ave, Newark City NJ 07106-1308

$549,000
Active
Newark City

About this home

Excellent mixed-use investment opportunity on busy South Orange Avenue! This income-producing property features a commercial space on the first floor with an established tenant and lease in place. The second floor offers a renovated two-bedroom apartment, providing an additional source of rental income. A full unfinished basement provides additional storage. Renovated in 2021 and situated in Newark's C-2 Community Commercial and Residential Zone, the property offers strong visibility and convenient access to major highways, public transportation, shopping and neighborhood amenities. A great opportunity to add a versatile mixed-use property to your investment portfolio. Buyer responsible for verifying permitted uses and property information with the City of Newark.

Taxes & fees

Annual property tax
$12,996
Tax year
2025
Tax rate
3.999

Property details

Year Built
1900
Roof (*text)
Flat
Lot Size Area
0.06
MLS #
4052304

Features & amenities

Year Built (*numeric)
1900
Basement
Yes
Roofing (*text)
Flat
Days on market
7
Basement (*text)
Yes
Cooling (*text)
Central Air
Heating
2 Units, Forced Hot Air, See Remarks
Lot dimensions
25X100
Property Location

40.74419, -74.21136

Geo Lat Long Proximity (field_pro_lat_long)
Units: Miles
Origin Coordinates
Value in decimal degrees. Use dot (.) as decimal separator.
Listing source
GSMLS
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