Large single family colonial 6 bedroom home spread over three floors w/ low taxes 1.5 baths and a full unfinished basement. The first floor features a separate living/ dining room, enclosed porch and kitchen overlooking the garden. The second floor consists of 4 bedrooms with access to a large walk up attic room. A great opportunity to maximize the current floor plan to create additional living or income producing space by finishing the basement and adding a full bathroom. The home needs some TLC, updates, repairs and once renovated will be valued in the region of $570-600K. Great floor plan to convert into a multi family with a 2 bedroom apartment on the first floor and a 3 bedroom duplex on the 2nd and 3rd floor with appropriate city approvals and permits. The estimated value for a fully renovated multifamily will be in the region of $600-650K generating a rental icome of $5000- $5500 pcm+. Close to all modes of public transportation and minutes away from I-280 and Garden State Pkwy an easy commute to New York. Seller would be willing to provide sellers concession for strong offers over the list price to help with financing to buy down the interest rate or to reduce the amount of down payment and closing costs. We will only accept offers from direct end buyers no wholesalers please. This opportunity will not last for long.
Property Type :
Single Family
County :
Essex
Style :
Single Family
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ByOwner last updated this listing 05/01/2024 @ 18:39
MLS: 3834004
LISTED BY: , RE/MAX FIRST REALTY II
SOURCE: Garden State MLS - New Jersey
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.
