Prime Investment Opportunity This income-producing fourplex is ready for immediate occupancy, ideal for the savvy investor and buyers looking to offset expenses with rental income. Located minutes from Seton Hall University, this property offers convenience and rental appeal. Each spacious unit features an oversized kitchen, 2 or 3 bedrooms, a dedicated dining area, and ample closets, ensuring comfort and functionality for tenants. The shared spaces are well-designed, with a private fenced backyard that includes a generous deck perfect for outdoor gatherings. Additionally, a private driveway offering ample off-street parking for tenants and visitors. Separate utilities in the partially finished basement, accessible through a private above-ground entrance, opens possibilities for additional creative uses. The basement adds valuable square footage and functionality to the property without compromising tenant privacy. This fourplex is ideally situated close to South Orange's charming downtown area, known for its array of dining, shopping, and entertainment options. Public transportation is easily accessible, with bus lines and the South Orange Train Station nearby, offering convenient commutes to New York City and other neighboring towns. Quick access to major highways adds to the appeal, attracting tenants who value both suburban charm and urban accessibility. Don't miss out on this outstanding investment opportunity with strong income potential in a sought-after location
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Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
Elementary School
3
/10
Lincoln Elementary School
87 Richelieu Ter
Distance between this listing and this school0.46 miles
Public District Grades PK-8
High School
1
/10
Central High School
250 18th Ave
Distance between this listing and this school2.37 miles
Public District Grades 9-12
1
/10
Barringer High School
90 Parker St
Distance between this listing and this school2.69 miles
Public District Grades 9-12
1
/10
Weequahic High School
279 Chancellor Ave
Distance between this listing and this school2.72 miles
Public District Grades 9-12
Assigned Schools
3
/10
Lincoln Elementary School
87 Richelieu Ter
Distance between this listing and this school0.46 miles
Public District Grades PK-8
Nearby Schools
4
/10
Langston Hughes Elementary School
160 Rhode Island Ave
Distance between this listing and this school0.56 miles
Public District Grades PK-5
2
/10
Speedway Avenue School
701 South Orange Ave
Distance between this listing and this school0.77 miles
Public District Grades PK-8
Nearby Schools
4
/10
Benjamin Banneker Academy
500 S Clinton St
Distance between this listing and this school0.27 miles
Public District Grades PK-8
6
/10
Pride Academy Charter School
117 Elmwood Ave
Distance between this listing and this school0.69 miles
Public Charter Grades 5-8
4
/10
Universiy Middle School
255 Myrtle Ave
Distance between this listing and this school0.99 miles
Public District Grades 6-8
Assigned Schools
1
/10
Central High School
250 18th Ave
Distance between this listing and this school2.37 miles
Public District Grades 9-12
1
/10
Barringer High School
90 Parker St
Distance between this listing and this school2.69 miles
Public District Grades 9-12
1
/10
Weequahic High School
279 Chancellor Ave
Distance between this listing and this school2.72 miles
The neighbors living near this home have an average income of $32,734. Most Newark, NJ residents have annual incomes less than $35k. Residents typically live in single, no kids family. The most common level of education of people living in this area is post secondary degree.
This home is located at 121 Smith St Unit 4 in Newark City, NJ and zip code 07106 in the West Ward neighborhood. This home, which was built in 1950, sits on a 0.11 acre lot. Features: 10 bedrooms, 4 bathrooms. It has been listed on Rocket Homes since November 01, 2024 and is currently priced at $799,000.
In October 2024 more than 24 listings in Newark, NJ were sold above the asking price. During the same period more than 3 listings were sold at asking price, while more than 7 were sold below. The number of listings in Newark, NJ increased by 25.4% between September 2024 and October 2024. Listings spent 75 days on the market in October 2024, and had a median list price of $396,125 during the same period.
From Rocket Homes Real Estate and based on county public records data.