156 Franklin Avenue

Nutley, NJ 07110

$975,000
Last Sold Price
5
Beds
2
Baths
2
1/2 Baths
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

Investment Opportunity in Downtown Nutley! This newly renovated 4-unit commercial building boasts 2 updated residential units and 2 modern storefronts, perfect for a variety of businesses. This opportunity boasts new hardwood flooring, 5 bedrooms with a possible studio and 3 kitchens, one being brand new! Enjoy the convenience of this corner property having a 2-car garage and a spacious backyard with potential for expansion or additional parking on the land. Tremendous opportunity with this property...Investment Opportunity in Downtown Nutley! This newly renovated 4-unit commercial building boasts 2 updated residential units and 2 modern storefronts, perfect for a variety of businesses. This opportunity boasts new hardwood flooring, 5 bedrooms with a possible studio and 3 kitchens, one being brand new! Enjoy the convenience of this corner property having a 2-car garage and a spacious backyard with potential for expansion or additional parking on the land. Tremendous opportunity with this property being close to colleges, the Newark Airport, and close to NYC with park nearby and a great school system! Plus, explore the possibility of creating a studio apartment on the first floor. Don't miss this chance to own a versatile property in a thriving location walking distance to schools, parks, and a variety of restaurants and businesses!
  1. Listed by STEVEN N EMERY • KELLER WILLIAMS PROSPERITY REALTY
  2. Listed by ARON COOPER

Property Details for 156 Franklin Avenue

Directions
Kensington Ave to Ward Ave to Ruth Ave to Franklin Ave
Days On Market
121
LISTING UPDATED: 01/03/2025 12:11 PM

Property Details for 156 Franklin Avenue

StatusSold
MLS #3915966
Days on Market121
Taxes$16,470 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeFourplex
MLS TypeMulti Family
Year Built1937
Lot Size-
CountyEssex County

Building Information for 156 Franklin Avenue

Stories-Residences4Year Built1937Building Size-Lot Size-

Property Information for 156 Franklin Avenue

Summary
Location and General Information
  • Active Days on Market: 77
  • County #: Essex
  • Town Name: Nutley Twp.
  • Block Identifier: 7500
  • Listing Type: Exclusive Right to Sell
  • Town #: 1616.0
  • Street # Display: 156.0
  • # Parking Spaces: 2
  • County Or Parish: Essex
  • Street Name: Franklin Ave
  • Zip Code: 07110-2925
  • Total Units: 4
Taxes and HOA Information
  • Assess Total Tax: *
  • Assess Amt Land Tax: *
  • Assess Amt Bldg Tax: *
  • Block ID Tax: *
  • Acres Tax: *
  • County Tax: *
  • Tax Amount: $16,470
  • Street name Tax: *
  • Zip Code Tax: *
  • Street # Tax: *
  • City Tax: *
  • Tax Amount Tax: *
  • Assessment Total: 639400.0
  • Tax ID For Property: 1616-07500-0000-00011-0000-
  • Tax Rate Amount: $3
  • Tax Rate Tax: *
  • Tax Rate Year: 2023
  • Tax Year: 2023
  • Tax Year Tax: *
  • Lot ID Tax: *
  • Lot Size Tax: *
Parking
  • Parking/Driveway Description: Additional Parking
  • # Garage Spaces: 2
  • Garage Description: Detached Garage
Property
Lot Information
  • Lot Description: Corner
  • Lot Identifier: 11
  • Approximate Lot Size: 40X150 IRR
  • Construction Date/Year Built: 1937
  • Construction Date/Year Built Des: Unknown
Property and Assessments
  • Assessment Bldg: 219400.0
  • Assessment Land: 420000.0
Utilities
  • Cooling: Wall A/C Unit(s), Window A/C(s)
  • Services: Garbage Included
  • Utilities: Gas-Natural
  • Water: Public Water
  • Water Heater: Gas
  • Heating: 1 Unit, Radiant - Hot Water, Radiators - Hot Water, Radiators - Steam
  • Fuel Type: Gas-Natural
  • Sewer: Public Sewer
Interior and Exterior Features
Exterior Features
  • Exterior Description: Aluminum Siding, Brick/Block
  • Exterior Features: Patio, Storm Door(s)
Interior Features
  • Roof Description: Asphalt Shingle
  • Basement: Yes
  • Basement Description: Bilco-Style Door, Unfinished
  • Easement: No
Multi Family
Unit 1 Information
  • Unit 1 Appl/Equip: Carbon Monoxide Detector, Smoke Detector
  • Unit 1 Baths: 0.5
  • Unit 1 Bedrooms: 0
  • Unit 1 Fireplaces: 0.0
  • Unit 1 Handicap Modified: No
  • Unit 1 Levels: 1.0
  • Unit 1 Owner/Tenant Pays: Owner Pays Gas, Owner Pays Heat, Owner Pays Water
  • Unit 1 Rent: 600.0
  • Unit 1 Room Description: See Remarks
  • Unit 1 Rooms: 3.0
  • Unit 1 Security Deposit: 999999.0
  • Unit 1 Sq Ft: 9999.0
Unit 2 Information
  • Unit 2 Appl/Equip: Carbon Monoxide Detector, Smoke Detector
  • Unit 2 Baths: 0.5
  • Unit 2 Bedrooms: 0
  • Unit 2 Fireplaces: 0.0
  • Unit 2 Handicap Modified: No
  • Unit 2 Levels: 1.0
  • Unit 2 Owner/Tenant Pays: Owner Pays Gas, Owner Pays Heat, Owner Pays Water
  • Unit 2 Rent: 600.0
  • Unit 2 Room Description: See Remarks
  • Unit 2 Rooms: 3.0
  • Unit 2 Security Deposit: 999999.0
  • Unit 2 Sq Ft: 9999.0
Unit 3 Information
  • Unit 3 Appl/Equip: CarbMDet, CookGas, Dishwshr, Dryer, KitExhFn, Refrig, SmokeDet, Washer
  • Unit 3 Baths: 1.0
  • Unit 3 Bedrooms: 4
  • Unit 3 Fireplaces: 1.0
  • Unit 3 Handicap Modified: No
  • Unit 3 Lease Expiration: 06-30-2026
  • Unit 3 Levels: 2.0
  • Unit 3 Owner/Tenant Pays: Owner Pays Gas, Owner Pays Heat, Owner Pays Water
  • Unit 3 Rent: 3000.0
  • Unit 3 Room Description: Bedrooms, Living Room
  • Unit 3 Rooms: 9.0
  • Unit 3 Security Deposit: 4500.0
  • Unit 3 Sq Ft: 9999.0
Unit 4 Information
  • Unit 4 Appl/Equip: CarbMDet, CookGas, Dishwshr, Dryer, KitExhFn, Refrig, SmokeDet, Washer
  • Unit 4 Baths: 1.0
  • Unit 4 Bedrooms: 1
  • Unit 4 Fireplaces: 0.0
  • Unit 4 Handicap Modified: No
  • Unit 4 Lease Expiration: 10-31-2025
  • Unit 4 Levels: 1.0
  • Unit 4 Owner/Tenant Pays: Owner Pays Gas, Owner Pays Heat, Owner Pays Water
  • Unit 4 Rent: 1850.0
  • Unit 4 Room Description: Bedrooms, Living Room
  • Unit 4 Rooms: 5.0
  • Unit 4 Security Deposit: 2775.0
  • Unit 4 Sq Ft: 9999.0
Multi-Family Information
  • Unit Style: Fourplex
Income & Expenses Information
  • Total Operating Expense: $26,400.00
  • Net Operating Income: $45,600.00
  • Gross Operating Income: $72,000.00

Property History for 156 Franklin Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 156 Franklin Avenue

Taxable ValueLand$420,000Additions$219,400Total$639,400
Tax Record2023$16,471 ($1,373 / month)
Home Facts
Lot Size6,000 SqFtStyleMiscellaneous CommercialYear Built1926ZoningB-3CountyESSEXAPN16 07500-0000-00011

Schools near 156 Franklin Avenue

This home is within Nutley Public School District.
Rating
School
Type
Grades
Distance
Public - K to 6
Public - 7 to 8
Public - 9 to 12
Public - PK to 6
Rating
School
Distance
Lincoln Elementary School
PublicK to 6

John H Walker Middle School
Public7 to 8

Nutley High School
Public9 to 12

Radcliffe Elementary School
PublicPK to 6

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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Similar Sold Homes

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of KELLER WILLIAMS PROSPERITY REALTY, STEVEN N EMERY

The data relating to the real estate for sale on this website comes in part from the Internet Data Exchange Program of the NJMLS. Real estate listings held by brokerage firms other than (insert office name) aremarked with the Internet Data Exchange logo and information about them includes the name of the listing brokers. Some properties listed with the participating brokers do not appear on this website at the request of the seller. Listings of brokers that do not participate in Internet Data Exchange do not appear on this website. All information deemed reliable but not guaranteed. Last date updated: 01/15/2025 12:41 AM. Source: New Jersey Multiple Listing Service, Inc. © 2025 New Jersey Multiple Listing Service, Inc. All rights. The data relating to the real estate for sale and sold listing information on this website comes from the New Jersey Multiple Listing Service, Inc. Virtual Office Website (VOW) program. This website may not include listings or property addresses of sellers who have directed their listing brokers to withhold their listing or their property address from display on the Internet. Sold listings may have been listed and/or sold by a real estate brokerage other than (insert office name). All information deemed reliable but not guaranteed. NLMLS makes no representation or warranty regarding the accuracy of the data. This data and information is protected under federal copyright laws which prohibit the unauthorized copying or alternation of all or any part of copyrighted materials, including certain compilations of data and information. Copyright violators may be subject to severe fines and penalties under federal law. Source: New Jersey Multiple Listing Service Inc. Last date updated: 01/15/2025 12:41 AM © 2025 New Jersey Multiple Listing Service Inc. All rights reserved.