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415 Central Ave 2 Unit Apartment Building $1,500,000 ($750,000/Unit) Newark, NJ 07107
Executive Summary
Great multi-family building with two 4BR/2BA apartments and approximately 3,000 SF of prime ground-floor commercial space in the heart of Newark's University Heights district. The ground floor was formerly operated as a lounge and is wide-open, featuring two existing bar setups areas and an adaptable layout ideal for a restaurant or cafe. Positioned just minutes from Rutgers University, NJIT, Essex County College, major hospitals, and premier attractions like NJPAC and Prudential Center, this location enjoys strong foot traffic and excellent visibility. The surrounding area is dense with students, professionals, and daily commuters, offering a built-in audience. Two bar areas in place with high ceilings and flexible interior layout. Prominent frontage along Central Avenue, steps from public transportation and major highways. Surrounded by colleges, hospitals, and downtown amenities in one of Newark's most dynamic and fast-growing corridors. Liquor License Can be purchased separately for $155,000
Property Facts
| Price | $1,500,000 | Apartment Style | Low-Rise |
| Price Per Unit | $750,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.05 AC |
| No. Units | 2 | Building Size | 9,000 SF |
| Property Type | Multifamily | No. Stories | 1 |
| Property Subtype | Apartment | Year Built | 1900 |
| Zoning | C-2 - C-2 Zone - See attached Zoning Ordinance. | ||
| Price | $1,500,000 |
| Price Per Unit | $750,000 |
| Sale Type | Investment |
| No. Units | 2 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.05 AC |
| Building Size | 9,000 SF |
| No. Stories | 1 |
| Year Built | 1900 |
| Zoning | C-2 - C-2 Zone - See attached Zoning Ordinance. |
Exceptionally walkable
100/100
Fairly drivable
50/100
Exceptional public transit
100/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 14-01846-0000-00023 | Improvements Assessment | $277,200 |
| Land Assessment | $42,500 | Total Assessment | $319,700 |
Property Taxes
Parcel Number
14-01846-0000-00023
Land Assessment
$42,500
Improvements Assessment
$277,200
Total Assessment
$319,700
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