137 CONGRESS ST Newark, NJ 07105

Lucrative, INCOME-PRODUCING opportunity for both investors and owner occupants! This 3-FAMILY property is located in Newark's coveted IRONBOUND section, only 5 blocks from Newark Penn/PATH station. Each unit features 3 bedrooms, 1 full bathroom, a spacious living room and well-equipped kitchen. The basement is FULLY FINISHED with two additional rooms that can serve a host of purposes, a 4TH FULL BATHROOM and a COIN-OPERATED LAUNDRY ROOM. Washer and dryer are included in the sale. The property easily pays for itself, and then some, with excellent, LONG-TERM TENANTS in place. The existing month-to-month leases allow for LANDLORD FLEXIBILITY and, it should be noted rents are below market value for the area. The building is equipped with 3 CENTRAL HVAC units, 4 GAS/ELECTRICAL METERS and 4 HOT WATER HEATERS installed in 2017. Utility company and city permits approved for SOLAR PANEL installation. Please note that these panels have been PURCHASED OUTRIGHT by the seller, not leased. The property is zoned, MX-1, for POTENTIAL MIXED-USE purposes and can, therefore, house a COMMERCIAL BUSINESS on the first floor with RESIDENCES above! The possibilities are ENDLESS! All utilities, insurance, mortgage and tax payments are up to date with no liens on property. With the Ironbound section seeing recent expansion with newly established SCHOOLS in addition to clusters of appetizing RESTAURANTS and bakeries, there's no better neighborhood to INVEST and live in! Schedule a showing today!