179 Mapes Avenue

Newark, NJ 07112

$425,000
Last Sold Price
10
Beds
3
Baths
2
1/2 Baths
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

Amazing opportunity for an owner or investor to acquire 4 income producing multi-family properties in one of the fastest growing areas of Newark & Irvington. See portfolio: 3679213, 3679235, 3679245. Potential to be sold separately or as a package comprising 13 units. Renovated and fully occupied. All Tenants month to month. Separate Utilities. Off-Street parking for 4 cars. Ability to install coin-operated laundry to increase NOI. Conveniently located near Weequahic Park, Beth Israel Hospital, shopping,...Amazing opportunity for an owner or investor to acquire 4 income producing multi-family properties in one of the fastest growing areas of Newark & Irvington. See portfolio: 3679213, 3679235, 3679245. Potential to be sold separately or as a package comprising 13 units. Renovated and fully occupied. All Tenants month to month. Separate Utilities. Off-Street parking for 4 cars. Ability to install coin-operated laundry to increase NOI. Conveniently located near Weequahic Park, Beth Israel Hospital, shopping, and public transportation. Whether you are a first time home buyer interested in living in one unit (individual units can be delivered vacant) and collecting passive income or you are a seasoned investor looking to add to your portfolio this property has it all. Individual Cap Rate 12% Combined Cap Rate 9.2%.

Listing Agent

  1. Carlos Beltran

    Carlos Beltran

    Listing Agent

    Compass

Property Details for 179 Mapes Avenue

Directions
Bergen St & Osborne Ter
Days On Market
108

Location

Add your commute
LISTING UPDATED: 06/05/2022 03:04 AM

Property Details for 179 Mapes Avenue

StatusSold
MLS #3679225
Days on Market108
Taxes$6,702 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family
Year Built1922
Lot Size0.08 AC / 3,484 SF
CountyEssex County

Location

Add your commute

Building Information for 179 Mapes Avenue

Stories-Residences3Year Built1922Building Size-Lot Size0.08 AC / 3,484 SF

Payment Calculator

$2,878 per month

30 year fixed, 7.25% Interest

Principal and Interest

$2,319

Property Taxes

$559

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 179 Mapes Avenue

Summary
Location and General Information
  • Active Days on Market: 34
  • Renovated Year: 2018
  • County #: Essex
  • Town Name: Newark City
  • Block Identifier: 3664
  • Listing Type: Exclusive Right to Sell
  • Street # Display: 179.0
  • # Parking Spaces: 4
  • County Or Parish: Essex
  • Street Name: MAPES AVE
  • Zip Code: 07112-2017
  • Total Units: 3
Taxes and HOA Information
  • Assess Total Tax: *
  • Assess Amt Land Tax: *
  • Assess Amt Bldg Tax: *
  • Block ID Tax: *
  • Acres Tax: *
  • County Tax: *
  • Tax Amount: $6,702
  • Street name Tax: *
  • Zip Code Tax: *
  • Street # Tax: *
  • City Tax: *
  • Tax Amount Tax: *
  • Assessment Total: 203700.0
  • Tax ID For Property: 1614-03664-0000-00054-0000-
  • Tax Rate Amount: $4
  • Tax Rate Tax: *
  • Tax Rate Year: 2019
  • Tax Year: 2019
  • Tax Year Tax: *
  • Lot ID Tax: *
  • Lot Size Tax: *
Parking
  • Parking/Driveway Description: See Remarks
Property
Lot Information
  • Lot Identifier: 54
  • Approximate Lot Size: 35X100
  • Total Acres: 0.08
  • Construction Date/Year Built: 1922
  • Construction Date/Year Built Des: Renovated
Property and Assessments
  • Assessment Bldg: 174900.0
  • Assessment Land: 28800.0
Utilities
  • Cooling: 3 Units, Central Air
  • Utilities: Gas-Natural
  • Water: Public Water
  • Water Heater: Gas
  • Heating: 3 Units, Forced Hot Air
  • Fuel Type: Gas-Natural
  • Sewer: Public Sewer
Interior and Exterior Features
Exterior Features
  • Exterior Description: Vinyl Siding
Interior Features
  • Roof Description: See Remarks
  • Basement: Yes
  • Basement Description: Full
  • Easement: Unknown
Multi Family
Unit 1 Information
  • Unit 1 Appl/Equip: See Remarks
  • Unit 1 Baths: 2.0
  • Unit 1 Bedrooms: 4
  • Unit 1 Fireplaces: 0.0
  • Unit 1 Handicap Modified: No
  • Unit 1 Levels: 1.0
  • Unit 1 Owner/Tenant Pays: Owner Pays Water, Tenant Pays Electric, Tenant Pays Gas, Tenant Pays Heat
  • Unit 1 Rent: 1985.0
  • Unit 1 Room Description: Bedrooms, Kitchen, Living/Dining Room, See Remarks
  • Unit 1 Rooms: 9.0
  • Unit 1 Security Deposit: 9999.0
  • Unit 1 Sq Ft: 0.0
Unit 2 Information
  • Unit 2 Appl/Equip: See Remarks
  • Unit 2 Baths: 2.0
  • Unit 2 Bedrooms: 4
  • Unit 2 Fireplaces: 0.0
  • Unit 2 Handicap Modified: No
  • Unit 2 Levels: 1.0
  • Unit 2 Owner/Tenant Pays: Owner Pays Water, Tenant Pays Electric, Tenant Pays Gas, Tenant Pays Heat
  • Unit 2 Rent: 1985.0
  • Unit 2 Room Description: Bedrooms, Kitchen, Living/Dining Room, See Remarks
  • Unit 2 Rooms: 9.0
  • Unit 2 Security Deposit: 9999.0
  • Unit 2 Sq Ft: 0.0
Unit 3 Information
  • Unit 3 Appl/Equip: See Remarks
  • Unit 3 Baths: 1.0
  • Unit 3 Bedrooms: 2
  • Unit 3 Fireplaces: 0.0
  • Unit 3 Handicap Modified: No
  • Unit 3 Levels: 1.0
  • Unit 3 Owner/Tenant Pays: Owner Pays Water, Tenant Pays Electric, Tenant Pays Gas, Tenant Pays Heat
  • Unit 3 Rent: 1700.0
  • Unit 3 Room Description: Bedrooms, Kitchen, Living/Dining Room, See Remarks
  • Unit 3 Rooms: 5.0
  • Unit 3 Security Deposit: 9999.0
  • Unit 3 Sq Ft: 0.0
Unit 4 Information
  • Unit 4 Appl/Equip: See Remarks
  • Unit 4 Owner/Tenant Pays: Owner Pays Water, Tenant Pays Electric, Tenant Pays Gas, Tenant Pays Heat
Multi-Family Information
  • Unit Style: Triplex
Income & Expenses Information
  • Total Operating Expense: $12,114.00
  • Expenses Include: All Utilities, Insurance, Maintenance, Taxes
  • Net Operating Income: $55,926.00
  • Gross Operating Income: $68,040.00

Property History for 179 Mapes Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 179 Mapes Avenue

Taxable ValueLand$28,800Additions$174,900Total$203,700
Tax Record2021$5,743 ($479 / month)
Home Facts
Beds0Total Finished SqFt2,649 SqFtAbove Grade Finished SqFt2,649 SqFtStories2Lot Size3,498 SqFtStyleSingle Family ResidenceYear Built1922CountyESSEXAPN14 03664-0000-00054

Schools near 179 Mapes Avenue

This home is within The Newark Public School District.
Rating
School
Type
Grades
Distance
Public - PK to 8
Public - 9 to 12
Public - PK to 8
Public - K to 8
Rating
School
Distance
Mount Vernon Elementary School
PublicPK to 8

Technology High School
Public9 to 12

Lincoln Elementary School
PublicPK to 8

Speedway Academies
PublicK to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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Similar Sold Homes

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of COLDWELL BANKER REALTY, Carlos Beltran

The data relating to the real estate for sale and sold listing information on this website comes from the New Jersey Multiple Listing Service, Inc. Virtual Office Website (VOW) program. This website may not include listings or property addresses of sellers who have directed their listing brokers to withhold their listing or their property address from display on the Internet. Sold listings may have been listed and/or sold by a real estate brokerage other than (insert office name). All information deemed reliable but not guaranteed. NLMLS makes no representation or warranty regarding the accuracy of the data. This data and information is protected under federal copyright laws which prohibit the unauthorized copying or alternation of all or any part of copyrighted materials, including certain compilations of data and information. Copyright violators may be subject to severe fines and penalties under federal law. Source: New Jersey Multiple Listing Service Inc. Last date updated 04/18/2024 11:59 PM © 2024 New Jersey Multiple Listing Service Inc. All rights reserved.