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570 Mount Prospect Ave

Newark City, NJ 07104
  • $599,900
  • STATUS: Active Under Contract
  • ON SITE: 136 Days
  • MLS #: 3988838
Under Contract
UPDATED: 48 min ago
$599,900
  • 8
    BEDS
  • 0.27
    ACRES
  • 5
    BATHS
  • 0
    1/2 BATHS
Type:
Multi-Family
Built:
1920
County:
Area:

School Ratings & Info

Description

Investor Opportunity " 4-Family in Newark Located in the City of Newark, this legal 4-family property is positioned on a busy street surrounded by a mix of residential homes and professional office spaces, making it an excellent candidate for redevelopment or value-add investment. With a total of 23 rooms, 8 bedrooms, multiple bathrooms, and a detached 2-car garage, this property offers significant scale and potential. While the property is in need of renovations, it presents a unique opportunity for investors seeking to reposition a multi-family in a high-demand market. The large footprint and flexible layout provide options for reconfiguration, modernization, or conversion to meet today's rental and mixed-use demand. With strong rental demand in Newark and the growing trend of mixed-use conversions in the area, this property offers excellent upside potential for the right buyer. This is your chance to acquire a value-add project in a prime location ideal for seasoned investors or developers looking to maximize return on investment.

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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 Trompeter Real Estate. 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 Trompeter Real Estate 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 2026-02-08T19:48:30.94.
www.trompeterrealestate.com/homes/168222136
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570 Mount Prospect Ave Newark City, NJ 07104

  • Price: $599,900
  • Status: Active Under Contract
  • On Site: 136 Days
  • Updated: 48 min ago
  • MLS #: 3988838
8
Beds
5
Baths
0
½ Baths
0.27
Acres
1920
Built
County:
Essex
Area:
Newark City
Property Description
Investor Opportunity " 4-Family in Newark Located in the City of Newark, this legal 4-family property is positioned on a busy street surrounded by a mix of residential homes and professional office spaces, making it an excellent candidate for redevelopment or value-add investment. With a total of 23 rooms, 8 bedrooms, multiple bathrooms, and a detached 2-car garage, this property offers significant scale and potential. While the property is in need of renovations, it presents a unique opportunity for investors seeking to reposition a multi-family in a high-demand market. The large footprint and flexible layout provide options for reconfiguration, modernization, or conversion to meet today's rental and mixed-use demand. With strong rental demand in Newark and the growing trend of mixed-use conversions in the area, this property offers excellent upside potential for the right buyer. This is your chance to acquire a value-add project in a prime location ideal for seasoned investors or developers looking to maximize return on investment.
Exterior Features

Approximate Lot Size 90X130 Exterior Description See RemarksStucco Garage Description Detached Garage Number Of Parking Spaces 2 Parking Driveway Description 1 Car WidthBlacktop Roof Description See Remarks

Interior Features

Basement Yes Basement Description Full Cooling NoneSeeRem Heating 1 UnitSee Remarks Interior Features See Remarks Total Number Of Rooms 23 Unit1 Appliances Equipment See Remarks Unit1 Baths 1.0 Unit1 Bedrooms 1 Unit1 Fireplaces 0 Unit1 Handicap Modified No Unit1 Levels 1 Unit1 Room Description BedroomsKitchenLiving Room Unit1 Rooms 4 Unit1 Security Deposit 0 Unit1 Sq Ft 0 Unit2 Appliances Equipment See Remarks Unit2 Baths 2.0 Unit2 Bedrooms 3 Unit2 Fireplaces 0 Unit2 Levels 1 Unit2 Room Description BedroomsDining RoomKitchenLiving Room Unit2 Rooms 8 Unit2 Sq Ft 0 Unit3 Baths 1.1 Unit3 Bedrooms 2 Unit3 Fireplaces 0 Unit3 Levels 2 Unit3 Room Description BedroomsDining RoomKitchenLiving Room Unit3 Rooms 5 Unit3 Sq Ft 0 Unit4 Appliances Equipment See Remarks Unit4 Baths 1.0 Unit4 Bedrooms 1 Unit4 Fireplaces 0 Unit4 Levels 3 Unit4 Room Description BedroomsKitchenLiving Room Unit4 Rooms 4 Unit4 Sq Ft 0

Property Features

Assessment Total 341400 Building Assessment 302300 Easement Unknown Easement Description Unknown Exclusions All Tenants Personal Property is excluded. Farm Assessment No Fha Age Restricted No Fuel Type Gas-NaturalSee Remarks Gross Operating Income 0 Home Warranty No Land Assessment 39100 Net Operating Income 0 Sewer Public Sewer Tax Amount 12983 Tax Rate Amount 3.803 Tax Rate Year 2024 Tax Year 2024 Total Operating Expense 0 Unit Style 3-Three Story Unit1 Owner Tenant Pays Owner Pays ElectricOwner Pays GasOwner Pays HeatOwner Pays Water Unit1 Rent 0 Unit2 Handicap Modified No Unit2 Owner Tenant Pays Owner Pays ElectricOwner Pays GasOwner Pays HeatOwner Pays Water Unit2 Rent 0 Unit2 Security Deposit 0 Unit3 Handicap Modified No Unit3 Owner Tenant Pays Owner Pays ElectricOwner Pays GasOwner Pays HeatOwner Pays Water Unit3 Rent 0 Unit3 Security Deposit 0 Unit4 Handicap Modified No Unit4 Owner Tenant Pays Owner Pays ElectricOwner Pays GasOwner Pays HeatOwner Pays Water Unit4 Rent 0 Unit4 Security Deposit 0 Utilities ElectricGas-Natural Water Public Water Year Built Description Approximate

Listing information © 2026 Garden State Multiple Listing Service,LLC.
Listing provided courtesy of Century 21 Alliance Realty: 908-587-5222.


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 Trompeter Real Estate. 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 Trompeter Real Estate 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 2026-02-08T19:48:30.94.
 
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