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492 Springfield Ave

Newark City, NJ 07103
  • $950,000
  • STATUS: Active
  • ON SITE: 37 Days
  • MLS #: 3937288
UPDATED: 86 min ago
$950,000
  • 4
    BEDS
  • 0.04
    ACRES
  • 2
    BATHS
  • 1
    1/2 BATHS
  • 1,890
    SQFT
  • $503
    $/SQFT
Type:
Multi-Family
County:
Area:

School Ratings & Info

Description

Prime Mixed-Use Opportunity on Springfield AvenueWelcome to 492 Springfield Avenue, Newark, NJ a versatile mixed-use property offering a perfect blend of commercial potential and residential income. This well-positioned building features two spacious apartments, each boasting 3 bedrooms and 1 bath, with separate utilities for convenience and flexibility. The ground-level commercial space is ideal for retail, office, or service businesses, benefiting from high visibility on a bustling thoroughfare in the vibrant West Side neighborhood. With its proximity to public transportation, schools, shops, and other amenities, this property is a magnet for both tenants and customers. Situated in an area of growth and development, it presents a unique opportunity for investors, business owners, or those seeking a live-work space. Don't miss your chance to own a high-potential property in the heart of Newark!

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Garden State MLS logo © 2025 Garden State Multiple Listing Service, LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Team Gio | RE/MAX Central. Notice: The dissemination of listings on this website does not constitute the consent required by N.J.A.C. 11:5.6.1 (n) for the advertisement of listings exclusively for sale by another broker. Any such consent must be obtained in writing from the listing broker.The data relating to real estate for sale or lease on this web site comes in part from GSMLS. Real estate listings held by brokerage firms other than Team Gio | RE/MAX Central are marked with the GSMLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. Data last updated 2025-01-13T10:46:49.787.
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492 Springfield Ave Newark City, NJ 07103

  • Price: $950,000
  • Status: Active
  • On Site: 37 Days
  • Updated: 86 min ago
  • MLS #: 3937288
4
Beds
2
Baths
1
½ Baths
0.04
Acres
1,890
SQFT
$503
$/SQFT
County:
Essex
Area:
Newark City
Property Description
Prime Mixed-Use Opportunity on Springfield AvenueWelcome to 492 Springfield Avenue, Newark, NJ a versatile mixed-use property offering a perfect blend of commercial potential and residential income. This well-positioned building features two spacious apartments, each boasting 3 bedrooms and 1 bath, with separate utilities for convenience and flexibility. The ground-level commercial space is ideal for retail, office, or service businesses, benefiting from high visibility on a bustling thoroughfare in the vibrant West Side neighborhood. With its proximity to public transportation, schools, shops, and other amenities, this property is a magnet for both tenants and customers. Situated in an area of growth and development, it presents a unique opportunity for investors, business owners, or those seeking a live-work space. Don't miss your chance to own a high-potential property in the heart of Newark!
Exterior Features

Approximate Lot Size 25X75.6 Color Of Building Beige Exterior Description Vinyl Siding Lot Description Irregular Lot Number Of Parking Spaces 0 Parking Driveway Description On-Street Parking Roof Description FlatRubberized

Interior Features

Basement Yes Basement Description Unfinished Cooling Central Air Heating 3 Units Interior Features Carbon Monoxide DetectorFire ExtinguisherSmoke Detector Total Number Of Rooms 14 Unit1 Appliances Equipment Carbon Monoxide DetectorSee RemarksSmoke Detector Unit1 Baths 1.0 Unit1 Bedrooms 0 Unit1 Fireplaces 0 Unit1 Handicap Modified No Unit1 Levels 1 Unit1 Room Description See RemarksStorage Unit1 Rooms 7 Unit1 Security Deposit 0 Unit1 Sq Ft 0 Unit2 Appliances Equipment Carbon Monoxide DetectorDishwasherRange/Oven - GasSmoke Detector Unit2 Baths 1.0 Unit2 Bedrooms 3 Unit2 Fireplaces 0 Unit2 Levels 2 Unit2 Room Description BedroomsKitchenLiving/Dining RoomSee Remarks Unit2 Rooms 5 Unit2 Sq Ft 0 Unit3 Baths 1.0 Unit3 Bedrooms 3 Unit3 Fireplaces 0 Unit3 Levels 3 Unit3 Room Description BedroomsKitchenLiving/Dining RoomSee Remarks Unit3 Rooms 5 Unit3 Sq Ft 0

Property Features

Assessment Total 193300 Building Assessment 142700 Building Number 492 Easement Unknown Expenses Include See RemarksTaxes Fha Age Restricted No Fuel Type Gas-Natural Gross Operating Income 72000 Land Assessment 50600 Net Operating Income 50600 Sewer Public Sewer Tax Amount 12000 Tax Rate Amount 3.728 Tax Rate Year 2024 Tax Year 2023 Total Operating Expense 21400 Unit Style 3-Three StorySee Remarks Unit1 Owner Tenant Pays Owner Pays WaterTenant Pays ElectricTenant Pays GasTenant Pays Heat Unit1 Rent 2200 Unit2 Handicap Modified No Unit2 Owner Tenant Pays Owner Pays WaterTenant Pays ElectricTenant Pays GasTenant Pays Heat Unit2 Rent 1500 Unit2 Security Deposit 2250 Unit3 Handicap Modified No Unit3 Owner Tenant Pays Owner Pays WaterTenant Pays ElectricTenant Pays GasTenant Pays Heat Unit3 Rent 1050 Unit3 Security Deposit 0 Utilities All UndergroundElectricGas-Natural Water Public Water

Listing information © 2025 Garden State Multiple Listing Service,LLC.
Listing provided courtesy of Signature Realty Nj: 973-680-2920.


Garden State MLS logo © 2025 Garden State Multiple Listing Service, LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Team Gio | RE/MAX Central. Notice: The dissemination of listings on this website does not constitute the consent required by N.J.A.C. 11:5.6.1 (n) for the advertisement of listings exclusively for sale by another broker. Any such consent must be obtained in writing from the listing broker.The data relating to real estate for sale or lease on this web site comes in part from GSMLS. Real estate listings held by brokerage firms other than Team Gio | RE/MAX Central are marked with the GSMLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. Data last updated 2025-01-13T10:46:49.787.
 
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