492 Springfield Avenue

Newark, NJ 07103

$950,000
Price
4
Beds
2
Baths
1
1/2 Bath
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

Prime Mixed-Use Opportunity on Springfield AvenueWelcome to 492 Springfield Avenue, Newark, NJ a versatile mixed-use property offering a perfect blend of commercial potential and residential income. This well-positioned building features two spacious apartments, each boasting 3 bedrooms and 1 bath, with separate utilities for convenience and flexibility. The ground-level commercial space is ideal for retail, office, or service businesses, benefiting from high visibility on a bustling thoroughfare...Prime Mixed-Use Opportunity on Springfield AvenueWelcome to 492 Springfield Avenue, Newark, NJ a versatile mixed-use property offering a perfect blend of commercial potential and residential income. This well-positioned building features two spacious apartments, each boasting 3 bedrooms and 1 bath, with separate utilities for convenience and flexibility. The ground-level commercial space is ideal for retail, office, or service businesses, benefiting from high visibility on a bustling thoroughfare in the vibrant West Side neighborhood. With its proximity to public transportation, schools, shops, and other amenities, this property is a magnet for both tenants and customers. Situated in an area of growth and development, it presents a unique opportunity for investors, business owners, or those seeking a live-work space. Don't miss your chance to own a high-potential property in the heart of Newark!
  1. Listed by CLAUDIA BROMBAUER • SIGNATURE REALTY NJ

Property Details for 492 Springfield Avenue

Directions
Springfield ave Corner of Blum
Days On Market
0
LISTING UPDATED: 12/06/2024 08:56 PM

Property Details for 492 Springfield Avenue

StatusActive
MLS #3937288
Days on Market11
Taxes$12,000 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family / 3-Three Story
Year Built9999
Lot Size0.04 AC / 1,742 SF
CountyEssex County

Building Information for 492 Springfield Avenue

Stories-Residences3Year Built9999Building Size-Lot Size0.04 AC / 1,742 SF

Property Information for 492 Springfield Avenue

Summary
Location and General Information
  • Building #: 492
  • County #: Essex
  • Town Name: Newark City
  • Block Identifier: 307
  • Listing Type: Exclusive Right to Sell
  • Color of Building: Beige
  • Town #: 1614.0
  • Street # Display: 492.0
  • # Parking Spaces: 0
  • County Or Parish: Essex
  • Street Name: Springfield Ave
  • Zip Code: 07103-2084
  • Total Units: 3
Taxes and HOA Information
  • Assess Total Tax: *
  • Assess Amt Land Tax: *
  • Assess Amt Bldg Tax: *
  • Block ID Tax: *
  • County Tax: *
  • Tax Amount: $12,000
  • Street name Tax: *
  • Zip Code Tax: *
  • Street # Tax: *
  • City Tax: *
  • Assessment Total: 193300.0
  • Tax ID For Property: 1614-00307-0000-00018-0000-
  • Tax Rate Amount: $4
  • Tax Rate Tax: *
  • Tax Rate Year: 2024
  • Tax Year: 2023
  • Tax Year Tax: *
  • Lot ID Tax: *
  • Lot Size Tax: *
Parking
  • Parking/Driveway Description: On-Street Parking
Property
Lot Information
  • Lot Description: Irregular Lot
  • Lot Identifier: 18
  • Approximate Lot Size: 25X75.6
  • Total Acres: 0.04
  • Construction Date/Year Built: 9999
Property and Assessments
  • Assessment Bldg: 142700.0
  • Assessment Land: 50600.0
Utilities
  • Cooling: Central Air
  • Utilities: All Underground, Electric, Gas-Natural
  • Water: Public Water
  • Heating: 3 Units
  • Fuel Type: Gas-Natural
  • Sewer: Public Sewer
Interior and Exterior Features
Exterior Features
  • Exterior Description: Vinyl Siding
Interior Features
  • Interior Features: Carbon Monoxide Detector, Fire Extinguisher, Smoke Detector
  • Roof Description: Flat, Rubberized
  • Basement: Yes
  • Basement Description: Unfinished
  • Easement: Unknown
Multi Family
Unit 1 Information
  • Unit 1 Appl/Equip: Carbon Monoxide Detector, See Remarks, Smoke Detector
  • Unit 1 Baths: 1.0
  • 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 Water, Tenant Pays Electric, Tenant Pays Gas, Tenant Pays Heat
  • Unit 1 Rent: 2200.0
  • Unit 1 Room Description: See Remarks, Storage
  • Unit 1 Rooms: 7.0
  • Unit 1 Security Deposit: 0.0
  • Unit 1 Sq Ft: 0.0
Unit 2 Information
  • Unit 2 Appl/Equip: Carbon Monoxide Detector, Dishwasher, Range/Oven - Gas, Smoke Detector
  • Unit 2 Baths: 1.0
  • Unit 2 Bedrooms: 3
  • Unit 2 Fireplaces: 0.0
  • Unit 2 Handicap Modified: No
  • Unit 2 Levels: 2.0
  • Unit 2 Owner/Tenant Pays: Owner Pays Water, Tenant Pays Electric, Tenant Pays Gas, Tenant Pays Heat
  • Unit 2 Rent: 1500.0
  • Unit 2 Room Description: Bedrooms, Kitchen, Living/Dining Room, See Remarks
  • Unit 2 Rooms: 5.0
  • Unit 2 Security Deposit: 2250.0
  • Unit 2 Sq Ft: 0.0
Unit 3 Information
  • Unit 3 Appl/Equip: Carbon Monoxide Detector, Dishwasher, Range/Oven - Gas, Smoke Detector
  • Unit 3 Baths: 1.0
  • Unit 3 Bedrooms: 3
  • Unit 3 Fireplaces: 0.0
  • Unit 3 Handicap Modified: No
  • Unit 3 Levels: 3.0
  • Unit 3 Owner/Tenant Pays: Owner Pays Water, Tenant Pays Electric, Tenant Pays Gas, Tenant Pays Heat
  • Unit 3 Rent: 1050.0
  • Unit 3 Room Description: Bedrooms, Kitchen, Living/Dining Room, See Remarks
  • Unit 3 Rooms: 5.0
  • Unit 3 Security Deposit: 0.0
  • Unit 3 Sq Ft: 0.0
Multi-Family Information
  • Unit Style: 3-Three Story
Income & Expenses Information
  • Total Operating Expense: $21,400.00
  • Expenses Include: See Remarks, Taxes
  • Net Operating Income: $50,600.00
  • Gross Operating Income: $72,000.00

Property History for 492 Springfield 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 492 Springfield Avenue

Taxable ValueLand$50,600Additions$142,700Total$193,300
Tax Record2023$7,206 ($601 / month)
Home Facts
Stories3Lot Size1,891 SqFtStyleMiscellaneous CommercialCountyESSEXAPN14 00307-0000-00018

Schools near 492 Springfield Avenue

This home is within The Newark Public School District.
Rating
School
Type
Grades
Distance
Public - PK to 8
Public - PK to 8
Public - PK to 8
Public - PK to 8
Rating
School
Distance
Thirteenth Avenue Elementary School
PublicPK to 8

Louise A. Spencer Elementary School
PublicPK to 8

Belmont-Runyon Elementary School
PublicPK to 8

South Seventeenth Street Elementary School
PublicPK to 8

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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492 Springfield Avenue is a multi-family home for sale in Newark, NJ 07103. This property was listed for sale on December 6, 2024 by SIGNATURE REALTY NJ, it's currently listed at $950,000. It has been on the market for a total of 11 days and was last sold on October 4, 2005. This listing's school district is The Newark Public School District. Nearby schools include Thirteenth Avenue Elementary School, Louise A. Spencer Elementary School and Belmont-Runyon Elementary School. 492 Springfield Avenue is a 4-bed, 2.5-bath, multi-family home built in 9999.

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 SIGNATURE REALTY NJ, CLAUDIA BROMBAUER

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: 12/18/2024 07:10 AM. Source: New Jersey Multiple Listing Service, Inc. © 2024 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: 12/18/2024 07:10 AM © 2024 New Jersey Multiple Listing Service Inc. All rights reserved.