472 S 16TH ST, NEWARK, NJ
Sold Price: $675,000
Asking Price: $650,000
3-Family Investment Property offering 9 bedrooms/5 full baths. Renovated in 2019 with impeccable hardwood floors throughout. Separate utilities, including 3 individual HVAC systems. Semi-finished basement with separate entrance. All units have similar floor plans; However, units 2 and 3 come with primary bedrooms with en-suite/private baths. Kitchens are generously sized with expansive cabinetry and ample countertop space, featuring true eat-in layouts that accommodate dining areas. All five bathrooms include shower stalls and soaking tubs. Basement is standing height, full size, and offers substantial space with potential for additional use. The current rent roll is $5,400 per month; however, projected market rents support approximately $7,500 per month, equating to $90,000 annually. With annual taxes of approximately $6,026 the property offers strong income potential and significant upside for improved cash flow and return on investment. Proximity to NYC trains and buses. Approximately 7 minutes to Newark International airport and 20 minutes to Midtown NYC.
Reviews
Marvin did an excellent job assisting us with the sale of our investment property. He was able to get us a contract in two weeks and close the deal in about 30 days later. Time is of the essence...
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08/13/2026 - DanielSanon8
I recently sold my two-family investment property in Irvington, which was my first flip. Working with Marvin Williams made the entire process smooth and rewarding.From the initial listing to closing,...
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08/05/2026 - trncldwsrh
I was appointed Administrator of my father’s property in Union Township and initially was not fully clear on my role or the required steps involved in selling the property. From the very beginning,...
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08/01/2026 - alyhealth7
Marvin was really nice, however after spending $150 on applications fee and sending pay stubs, we never heard back. He informed us that we will hear from him and we never did. The next thing you know...
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03/08/2025 - agnesanokye
In February 2020, when we were preparing our home for the market the pandemic hit us. We were downsizing our home and hoping to buy a townhouse in Bridgewater. We became concerned that it was the...
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03/28/2021 - t daley2
We worked with Marvin to sell an investment property in Elizabeth. NJ. There were touchy situations with tenants that Marvin did not need to involve himself in, but he did and was a huge asset in...
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03/03/2021 - Toby 2007
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