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51 Richards St

Newark City, NJ 07105
  • $1,775,000
  • STATUS: Active
  • ON SITE: 131 Days
  • MLS #: 4023710
$1,775,000
  • 0
    BEDS
  • 0.08
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
County:
Area:

School Ratings & Info

Description

Rare opportunity to acquire a six-family property in the highly sought-after Ironbound section of Newark. 51 Richards Street features six spacious 2-bedroom apartments. Ideal for investors seeking stable cash flow in a prime location with built-in rental demand. The Ironbound market continues to outperform with its vibrant restaurant scene, proximity to Newark Penn Station, and easy access to NYC. Significant upside potential through rent increases and long-term appreciation. A strong addition to any portfolio in one of Newark?s most desirable rental neighborhoods.

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Garden State MLS logo © 2026 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 2026-09-06T23:48:33.303.
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51 Richards St Newark City, NJ 07105

  • Price: $1,775,000
  • Status: Active
  • On Site: 131 Days
  • MLS #: 4023710
0
Beds
0
Baths
0
½ Baths
0.08
Acres
Neighborhood:
Ironbound
County:
Essex
Area:
Newark City
Property Description
Rare opportunity to acquire a six-family property in the highly sought-after Ironbound section of Newark. 51 Richards Street features six spacious 2-bedroom apartments. Ideal for investors seeking stable cash flow in a prime location with built-in rental demand. The Ironbound market continues to outperform with its vibrant restaurant scene, proximity to Newark Penn Station, and easy access to NYC. Significant upside potential through rent increases and long-term appreciation. A strong addition to any portfolio in one of Newark?s most desirable rental neighborhoods.
Exterior Features

Approximate Lot Size 35X100 Available Parking Spaces 0 Construction Brick/BlockWood Exterior Description Brick/BlockVinyl Siding Location Business DistrictResidential Area Lot Description Level Lot Number Of Bays 0 Number Of Docks 0 Parking Driveway Description On-Street Parking Roof Description Flat

Interior Features

Basement Yes Basement Description FinishedFullWalkout Cooling Window A/C(s) Equipment Available Smoke Detector Floors TileVinyl-Linoleum Heating 4+ UnitsBaseboard - Hotwater Max Ceiling Height 8 Max Door Height 7 Number Of Doors 0 Number Of Lavatories 7 Office Sq Ft 0

Property Features

Building Number 1 Expenses Include InsuranceMaintenance - InteriorTaxesWater/Sewer For Sale Or Lease For Sale Fuel Type ElectricGas-Natural Gross Operating Income 129648 Net Operating Income 98602 Primary Property Type Apartment Complex Property Type Apartment Complex Sale Includes Building & Land Sewer Public Sewer Suite Number 1 Tax Amount 14396 Tax Rate Amount 3.999 Tax Rate Year 2025 Tax Year 2025 Total Operating Expense 31046 Utilities ElectricGas In Street Utilities Paid By Tenant Water Public Water Year Built Description Unknown Zoning RDV

Listing information © 2026 Garden State Multiple Listing Service,LLC.
Listing provided courtesy of EXIT REALTY LUCKY ASSOCIATES: 973-817-7700.


Garden State MLS logo © 2026 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 2026-09-06T23:48:33.303.
 
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Manalapan NJ, 08527