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Newark City, NJ 07103 37 Jay St

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Presented By: REALTY ONE GROUP LEGEND; 646-546-4725
  • Garden State MLS (GSMLS) - 38 - NJ
  • MLS# 3957601
  • 04/18/2025
  • Request Tour
  • Request Info
Disclaimer: The information contained in this listing has not been verified by MyHouseNJ.com and should be verified by the buyer.
  • Full/Half Baths • 0 / 12
  • SQFT • 11,724

Home Details

Incredible investment opportunity in the heart of University Heights, Newark! This package deal includes four fully occupied 3-family homes (total of 12 units) all located within the same block:1-37 Jay St (Block 2850 Lot 22)2-39 Jay St (Block 2850 Lot 23)3-46 Hudson St (Block 2850 Lot 33)4-46 Hudson St (Block 2850 Lot 35)The four properties are fully occupied with long-term tenants. All buildings are in good-average condition with low maintenance costs and low property taxes, making this a turnkey cash-flowing asset in one of Newark's fastest-growing neighborhoods.Attractive current gross income with further upside through rent optimization. Sold strictly as-is, this package is ideal for investors or 1031 exchange buyers seeking stability and scale. Cap rate to be calculated based on GOI.This is a rare chance to own a high-density, income-producing portfolio all in one block steps from universities, transportation, and new development.
Presented By: REALTY ONE GROUP LEGEND; 646-546-4725

Interior Features for 37 Jay St

Bedrooms

Num 4 Bed Units

Bathrooms

Num Units w/Full Bath12
Num Units w/Half Bath
Half Baths12

Other Interior Features

Price Per Sq Ft212.81
Available Sq Ft11724
Num 3 Bdrm Units5
Num 2 Bdrm Units7
Num 1 Bdrm Units
BasementUnfinished
Fuel TypeElectric, Gas-Natural
Total Stories3

General for 37 Jay St

ConstructionSee Remarks
CoolingNo Cool
CountyEssex
DirectionsSussex Ave to Jay St
Documents AvailableIncome & Expenses
DriveNone
EasementUnknown
Equipment AvailableSee Remarks
Gross Income183108
Heating4+ Units
Leasable Area
LocationResidential Area
Num Apts12
Number Of Units Total12
OwnershipFee Simple
PossessionAt Closing
Property TypeApartment Complex
Property TypeApartment Complex
RoofAsphalt Shingle, Flat
SewerPublic Sewer
Standard StatusActive
StatusActive
Tax Annual Amount23403
Tax Assessed Value615400
Tax Lot22, 23, 33, 3
Tax Year2024
Town #1614
TownshipNewark City
UtilitiesElectric, Gas-Natural
Year Built1940
ZoningRes

Exterior for 37 Jay St

Building Area Total11724
Exterior DescriptionVinyl Siding
Lot Dimensions100x100
Lot Size Acres0.05
Max Ceiling Height0
Max Door Height0
Number of Bays0
Number of Docks0
Water SourcePublic Water

Additional Details

Price History

Glenn Wechsler and Rob DiMeo Team

Price $2,495,000
MLS#3957601
List Date 04/18/2025
Property Type Commercial
Phone 201.777.0660
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