48 Elm Rd
Newark City, NJ 07105-3025
- – beds
- – baths
- – sqft
- 3,049 sqft lot
- – on site
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.
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Last updated Sep 28, 2024
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MLS# 3923416 —
This property is listed in more than one place. See it here.
The Building
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Development Status:See Remarks
Location
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Directions:Wilson Ave Exit off Route 1-9
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Latitude:40.72197
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Longitude:-74.15692
The Property
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Lot Identifier:29
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Approx Lot Size:25 Sqft
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Total Acres:0 Sqft
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Present Use:Residential
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Zoning:Residential Multi-Family
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Road Surface:See Remarks
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Easements:Unknown
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Assessment Land:74700
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Assess Amount Land Tax:*
Listing Agent
- Contact info:
- Agent phone:
- (201) 963-1400
- Office phone:
- (551) 212-3870
Taxes
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Tax ID:*
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Tax ID For Property:1614-00995-0000-00029-0000-
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Tax Year:2023
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Tax Year:*
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Tax Rate:*
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Tax Rate Year:2023
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Tax Rate Amount:3.728
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Tax Amount:$9,707
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Tax Amount:$*
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Lot ID Tax:*
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Lot Size Tax:*
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Acres Tax:$*
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Block ID Tax:*
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City Tax:$*
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County Tax:$*
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Zip Code Tax:*
Utilities
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Utility Information:See Remarks
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Water:Public Water on Property
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Sewer:Public Sewer in Street
The Community
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Assessment Total:260400
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Assessment Total Tax:*
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Assessment Bldg:185700
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Assess Amount Building Tax:*
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
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9/11/24
Sep 11, 2024
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Listed / Active | GSMLS | $600,000 | 380.0% (33.1% / YR) |
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3/18/13
Mar 18, 2013
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GSMLS | $125,000 |
