Newark City, NJ 07102 587 Dr Martin Luther King J
$630,000
4 more
Presented By: TWRG REALTY GROUP; 908-355-1717
- MLS# 3963920
- 05/18/2025
Disclaimer: The information contained in this listing has not been verified by MyHouseNJ.com and should be verified by the buyer.
Beds • 6
Baths • 3
Home Details
This legal three-family property is a rare find in the heart of downtown Newark and a prime investment opportunity in a rapidly growing area. Live in one unit and rent out the others for steady income while building equity. The property features three units plus a basement with a walk-out to the street, ready to be finished for added value. Enjoy low taxes and a location surrounded by major redevelopment, just minutes from the Prudential Center, top restaurants, shopping, schools, Newark Penn Station, colleges, hospitals, and a vibrant downtown. There's also easy access to major highways, public transit, and Newark Airport. This is your chance to join the New Newark renaissance. Act now!
Presented By: TWRG REALTY GROUP; 908-355-1717
Interior Features for 587 Dr Martin Luther King J
Bedrooms
Total Bedrooms6
Unit 1 Beds Total2
Unit 2 Beds Total2
Unit 3 Beds Total2
Bathrooms
Half Baths0
Unit 1 Baths Total1.0
Unit 2 Baths Total1.0
Unit 3 Baths Total1.0
Other Interior Features
Unit 1 Sq Ft0
Unit 2 Sq Ft0
Unit 3 Sq Ft0
Unit 1 Levels1
Unit 2 Levels2
Unit 3 Levels3
UnitType1TotalRent1475
UnitType2TotalRent0
UnitType3TotalRent1650
Unit 3 Fireplaces0
Unit 3 Handicap ModifiedNo
Unit 2 Handicap ModifiedNo
Unit 2 Fireplaces
Unit 1 Fireplaces
Unit 1 Handicap ModifiedNo
Unit 1 Appl/EquipCarbon Monoxide Detector, Range/Oven - Gas, Refrigerator, Smoke Detector
Unit 2 Appl/EquipCarbon Monoxide Detector, Range/Oven - Gas, Refrigerator, Smoke Detector
Unit 3 Appl/EquipCarbon Monoxide Detector, Range/Oven - Gas, Refrigerator, Smoke Detector
BasementUnfinished
Fuel TypeGas-Natural
Other Rooms
Unit 2 Rooms5
Unit 1 Rooms5
Unit 3 Rooms5
Unit 3 Room DescriptionBedrooms, Eat-In Kitchen, Living Room
Unit 1 Room DescriptionBedrooms, Eat-In Kitchen, Living Room
Unit 2 Room DescriptionBedrooms, Eat-In Kitchen, Living Room
General for 587 Dr Martin Luther King J
Architectural Style3-Three Story
CoolingWall A/C Unit(s)
CountyEssex
DirectionsBetween Court & Mercer
DriveOn-Street Parking
EasementUnknown
Full Baths3
Gross Income
Heating3 Units
Net Operating Income
Number Of Units Total3
Open Parking Spaces
Operating Expense
PossessionTo agree
RoofAsphalt Shingle
SewerPublic Sewer
Standard StatusActive
StatusActive
Tax Annual Amount5750
Tax Assessed Value151200
Tax Lot53
Tax Year2024
Total Rooms14
Town #1614
TownshipNewark City
UtilitiesGas-Natural
Year Built9999
Exterior for 587 Dr Martin Luther King J
Exterior DescriptionStone
Lot Dimensions18.7X100
Lot Size Acres0.04
Water SourcePublic Water
Additional Details
Price History
