219 Mount Prospect AveNewark, NJ 07104

This exceptional three-story, 9,000 square foot apartment building at 219 Mt. Prospect Avenue in Newark, New Jersey, presents a compelling investment opportunity. Built in 1910, this stately structure boasts 20 licensed single-room occupancy (SRO) units, providing substantial rental income potential. Situated on a double lot (59x105 feet) in a desirable neighborhood, just two minutes from Branch Brook Park and near highly-rated schools, the property offers convenient access to amenities and excellent transportation links. The building features on-site parking accommodating 10-12 vehicles, a significant advantage in a densely populated area. The heating and hot water system is gas-fired and only two years old, ensuring efficient and reliable operation. Utilities are provided by PSE&G (gas and electricity). The property is zoned C-1 Neighborhood Commercial, offering flexibility for future development or expansion. The building will be delivered vacant, allowing for immediate renovation or repositioning to maximize returns. This is a rare opportunity to acquire a well-located, multi-unit property in a thriving New Jersey market. The asking price is $2,600,000.