#25006700, Augusto Verissimo, Listing Office: Weichert Home City Realty
48 Elm Rd Newark City, NJ 07105
Property details
About 48 Elm Rd
Discover an exceptional development opportunity at 48 Elm Rd in the sought-after Ironbound section of Newark, NJ. This property comes with city-approved plans for transforming the existing commercial office space into a modern boutique three-family residence. The approved plans include a spacious 2,160-square-foot garage on the ground floor, complemented by an additional 365-square-foot outdoor patio area. The second floor features two units: Unit 201, a 2-bedroom, 2-bathroom apartment totaling 845 SF, and Unit 202, another 2-bedroom, 2-bathroom unit with 797 SF. The third floor boasts a luxurious 3-bedroom, 3-bathroom apartment with a den, office, living room, kitchen, and terrace spanning 1,697 SF. Key features of the development include Garage: On-site parking for 3 cars. Elevator: Convenient access from the ground floor to the rooftop. Rooftop Garden Lounge: A deck that can accommodate up to 20 people. High-End Finishes: Hardwood floors, central AC, energy-efficient lighting, and brand-new appliances in each unit. In-unit laundry: Each apartment includes a washer/dryer for added convenience. Private financing for acquisition and construction is available upon request. Whether you build and hold or sell the completed units, this project presents a promising opportunity for significant returns on investment. Located just minutes from Newark Penn Station, with easy access to NY Penn Station, it is a prime choice for developers ready to capitalize on the area's growth.
Highlights
Summary
- MLS Number: 3923989
- Office Name: COMPASS NEW JERSEY LLC
- Office Phone: (347) 292-8750
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Last updated on: 3/4/2025, 12:55:47 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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$600,000
48 Elm Rd
$7,125
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Price information
Property sales
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Tax history
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Nearby schools
1
East Ward Elementary School
Public District PK-3
0.6 mi
•104 Oliver St
4
Newark Educators Community Charter School
Public Charter PK-4
1.4 mi
•9-11 Hill St
5
Hamilton Intermediate School
Public District 4-5
1.8 mi
•223 Hamilton St
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $55,303. Typical income of Newark City, NJ residents is between $35k-100k annually. The most common type of family is single, no kids. Residents of this area typically have high school diploma education.
Similar homes for sale
This home is located at 48 Elm Rd in Newark City, NJ and zip code 07105 in the East Ward neighborhood. Features: 7 bedrooms, 7 bathrooms. It has been listed on Rocket Homes since September 14, 2024 and is currently priced at $600,000.
The number of homes for sale in Newark City, NJ increased by 18.4% between January and February 2025. In February 2025 median list price was $495,000 and the average listing age was 100 days.