5
See all 5 photos
$550,000
Est. payment /mo
4 Beds
3 Baths
2,000 SqFt
Exclusive Listing
New
250 Berkeley Ave Newark City, NJ 07107
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Key Details
Property Type Multi-Family, Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 2,000 sqft
Price per Sqft $275
MLS Listing ID 4029437
Style 2-Two Story
Bedrooms 4
Full Baths 3
Year Built 1999
Annual Tax Amount $5,878
Tax Year 2025
Lot Size 4,791 Sqft
Property Description
Rare investment and development opportunity in the heart of Newark?s thriving Roseville section. 250-252 Berkeley Avenue, a legal two-family property, is being offered together with the neighboring institutional/commercial property as a package deal, creating an approximate combined lot size of 100 x 100.This unique assemblage presents exceptional potential for developers, investors, builders, or end-users seeking redevelopment opportunities in a rapidly growing area. Preliminary development concepts may support multiple new construction residential units, subject to buyer due diligence, zoning requirements, subdivision approvals, and municipal approvals.The existing two-family property provides immediate rental income potential and may remain tenant-occupied while developers pursue approvals, plans, and redevelopment opportunities, creating the possibility for cash flow during the planning and entitlement process.Conveniently located near major highways, public transportation, shopping, schools, and residential neighborhoods, this offering provides strong upside potential in an area experiencing continued growth and redevelopment activity.Buyer responsible for independently verify
Location
State NJ
County Essex
Rooms
Basement Finished
Interior
Heating Gas-Natural
Cooling None
Heat Source Gas-Natural
Exterior
Exterior Feature Aluminum Siding
Utilities Available Electric, Gas In Street
Roof Type Asphalt Shingle
Building
Sewer Public Available
Water Public Water
Architectural Style 2-Two Story
Others
Senior Community No
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