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48 Elm Rd Newark NJ 07105

  • Newark , NJ
  • $600,000

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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 single-family home into a modern three-family residence, making it an ideal investment for developers looking to buy and hold or build and sell. 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, complete with a den, office, living room, and kitchen, 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, offering stunning views of Downtown Newark. 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. For developers looking to maximize the potential of this property, there is an option to eliminate the elevator and increase the square footage of the apartments. The 4th floor can be split into two separate units or converted into condos with city approval for a lucrative condo conversion project. The layout is also perfect for Airbnb, offering flexible rental opportunities and the potential for high returns in this desirable location. Airbnb management services are available post-construction, offering investors a hands-off, passive income opportunity. This well-positioned property, featuring an oversized lot, offers numerous possibilities. 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, the Light Rail, and Downtown Newark, 48 Elm Rd is perfectly positioned in a thriving community, making it a prime choice for developers ready to capitalize on the area's growth. Don’t miss this rare opportunity to invest in one of Newark’s most desirable neighborhoods.

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 single-family home into a modern three-family residence, making it an ideal investment for developers looking to buy and hold or build and sell.

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, complete with a den, office, living room, and kitchen, 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, offering stunning views of Downtown Newark.
  • 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.

For developers looking to maximize the potential of this property, there is an option to eliminate the elevator and increase the square footage of the apartments. The 4th floor can be split into two separate units or converted into condos with city approval for a lucrative condo conversion project.

The layout is also perfect for Airbnb, offering flexible rental opportunities and the potential for high returns in this desirable location. Airbnb management services are available post-construction, offering investors a hands-off, passive income opportunity.

This well-positioned property, featuring an oversized lot, offers numerous possibilities. 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, the Light Rail, and Downtown Newark, 48 Elm Rd is perfectly positioned in a thriving community, making it a prime choice for developers ready to capitalize on the area's growth.

Don’t miss this rare opportunity to invest in one of Newark’s most desirable neighborhoods. 

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 single-family home into a modern three-family residence, making it an ideal investment for developers looking to buy and hold or build and sell. 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, complete with a den, office, living room, and kitchen, 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, offering stunning views of Downtown Newark. 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. For developers looking to maximize the potential of this property, there is an option to eliminate the elevator and increase the square footage of the apartments. The 4th floor can be split into two separate units or converted into condos with city approval for a lucrative condo conversion project. The layout is also perfect for Airbnb, offering flexible rental opportunities and the potential for high returns in this desirable location. Airbnb management services are available post-construction, offering investors a hands-off, passive income opportunity. This well-positioned property, featuring an oversized lot, offers numerous possibilities. 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, the Light Rail, and Downtown Newark, 48 Elm Rd is perfectly positioned in a thriving community, making it a prime choice for developers ready to capitalize on the area's growth. Don’t miss this rare opportunity to invest in one of Newark’s most desirable neighborhoods.
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7

7

Total Bedrooms

7

7

Total Bathrooms

3,268

3,268

Sq.Ft.

Living Space

0.073

0.073

Acres

Lot Size

image

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Thank you for your interest in 48 Elm Rd , Newark , NJ 07105. We are reviewing your request and will be in touch shortly!
01

Interior

Total Bedrooms

7

Total Bathrooms

7

Full Bathrooms

7
01

Exterior & Building

Stories

3

Parking

3
01

Lot & Area

Status

For Sale

Living Area

3,268 Sq.Ft.

Total Area

6,448 Sq.Ft.

Lot Size

0.073 Acres

MLS® ID

5312046

Type

Land , Multi-Family

Neighborhood

Ironbound Newark

Lifestyles

Metropolitan

Elementary School

East Ward Elementary School

Middle School

Oliver Street School

High School

East Side High School
01

Finance

Sales Price

$600,000

Buyer Agency Compensation

2.5%
Carlos Beltran

The Ironbound neighborhood continues to experience strong demand, driven by its cultural appeal, dining scene, and proximity to NYC. Developing this property now, while the area is still affordable, presents a significant upside for investors and developers, offering strong cash flow potential and long-term appreciation.

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Ironbound Newark

Offers a unique and unparalleled experience with its diverse community, rich cultural heritage.

Welcome to Ironbound Newark

The Ironbound Section of Newark stands as a vibrant and coveted neighborhood, drawing both locals and visitors to its dynamic location. Recognized as the crown jewel of Newark, the Ironbound Section offers a unique and unparalleled experience with its diverse community, rich cultural heritage, renowned dining scene, and convenient access to major transportation hubs.

A notable highlight of the Ironbound Section is its highly desirable location, prominently featuring the bustling Ferry Street. This vibrant thoroughfare boasts an array of shops, bars, and restaurants, creating an inviting atmosphere that encourages residents and visitors to explore the diverse offerings of this cultural hub. Additionally, the neighborhood is just a short distance from Newark Penn Station, allowing for efficient transportation into Manhattan within a mere 30 minutes.

Housing options in the Ironbound Section cater to various preferences and lifestyles, presenting a mix of single-family homes, multi-family residences, and condominiums. The neighborhood's proximity to Newark Downtown adds to its appeal, as it experiences a renaissance with new investments and the emergence of luxury buildings, further enhancing the living experience for residents.

Beyond its strategic location and housing diversity, the Ironbound Section is celebrated for its rich cultural heritage. The community serves as a melting pot of cultures, contributing to a dynamic and inclusive atmosphere. Residents have the opportunity to engage in cultural events, festivals, and celebrations that reflect the neighborhood's diverse identity.

Moreover, the renowned dining scene in the Ironbound Section adds to its allure. From authentic Portuguese and Spanish cuisines to a variety of international flavors, the neighborhood is a culinary haven. Local eateries and restaurants along Ferry Street create a gastronomic journey, making it a destination for food enthusiasts.

Residents can also enjoy the scenic beauty of Riverbank Park by walking along its paths overlooking the Passaic River. This serene escape adds an extra layer of tranquility to the vibrant energy of the Ironbound Section.

The Ironbound is more than just a neighborhood; it's a vibrant community that offers an unmatched living experience. With its strategic location, diverse housing options, rich cultural heritage, exceptional dining scene, and scenic retreats like Riverbank Park, this neighborhood stands as a testament to Newark's dynamic and evolving urban landscape.
Welcome to Ironbound Newark The Ironbound Section of Newark stands as a vibrant and coveted neighborhood, drawing both locals and visitors to its dynamic location. Recognized as the crown jewel of Newark, the Ironbound Section offers a unique and unparalleled experience with its diverse community, rich cultural heritage, renowned dining scene, and convenient access to major transportation hubs. A notable highlight of the Ironbound Section is its highly desirable location, prominently featuring the bustling Ferry Street. This vibrant thoroughfare boasts an array of shops, bars, and restaurants, creating an inviting atmosphere that encourages residents and visitors to explore the diverse offerings of this cultural hub. Additionally, the neighborhood is just a short distance from Newark Penn Station, allowing for efficient transportation into Manhattan within a mere 30 minutes. Housing options in the Ironbound Section cater to various preferences and lifestyles, presenting a mix of single-family homes, multi-family residences, and condominiums. The neighborhood's proximity to Newark Downtown adds to its appeal, as it experiences a renaissance with new investments and the emergence of luxury buildings, further enhancing the living experience for residents. Beyond its strategic location and housing diversity, the Ironbound Section is celebrated for its rich cultural heritage. The community serves as a melting pot of cultures, contributing to a dynamic and inclusive atmosphere. Residents have the opportunity to engage in cultural events, festivals, and celebrations that reflect the neighborhood's diverse identity. Moreover, the renowned dining scene in the Ironbound Section adds to its allure. From authentic Portuguese and Spanish cuisines to a variety of international flavors, the neighborhood is a culinary haven. Local eateries and restaurants along Ferry Street create a gastronomic journey, making it a destination for food enthusiasts. Residents can also enjoy the scenic beauty of Riverbank Park by walking along its paths overlooking the Passaic River. This serene escape adds an extra layer of tranquility to the vibrant energy of the Ironbound Section. The Ironbound is more than just a neighborhood; it's a vibrant community that offers an unmatched living experience. With its strategic location, diverse housing options, rich cultural heritage, exceptional dining scene, and scenic retreats like Riverbank Park, this neighborhood stands as a testament to Newark's dynamic and evolving urban landscape.
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Carlos Beltran

EM

Carlos Beltran

Broker Associate | Real Estate Agent

He is an attorney and licensed Broker Associate/Real Estate Agent, with over 20 years of combined experience.

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