1878 Springfield Ave

Maplewood Twp, 07040-2930

$1,600,000

$1,600,000
Under Contract
Under Contract
 - For Sale
baths
3 Baths
property_type
Other
calendar
Built 1927
Fantastic opportunity to own a mixed-use building in Maplewood's highly sought-after commercial area is now available for purchase. Separately metered, this 6,000 sq ft, multi-tenant investment property comes 100% leased with 2 long-term storefront tenants with annual rental increases, 4 residential apartments and comes with 4 parking spots and finished basement. Located on a busy, high visibility street - first level includes a well-known restaurant and a nail salon. Second level has 3 two-bedroom apartments and 1 studio apartment (currently leased at way below market value). Close in proximity to the Maplewood business district, charming Maplewood downtown, parks and Maplewood Country Club; just minutes of GSP and Rt 78, less than 10 miles away from Newark International Airport and within minutes from various public transportation options, this location is very commuter accessible as well as desirable. Additionally, this building comes with various upgrades and repairs completed within the last few years: new roof (2021), 3 newer hot water tanks (2021), updated bath and paint in Apt A (2021) new kitchen cabinets in Apt B (2022), entire building and basement repainted (2022), new security system/cameras (2022). Rare offerings like this don't come around too often in such prime locations, so take ownership on this one and reach out today!
MLS® ID:
3817750
Updated:
1/29/23

Interior Features

Total Bedrooms
0
Total Bathrooms
3
Cooling
Central Air
Heating
4 Units, Forced Hot Air

Exterior/Building Features

Lot Size
4,791 ft² lot
Roof
Flat, Rubberized
Sewer
Public Sewer

Other Property Details

Taxes
$36991
Tax Frequency
per YEAR
Garage
No
Parking
N
View
N
County
Essex
Utilities
Electric, Gas-Natural
Water Source
Public Water
Pool
No
Total Stories
2
Zoning
PRB

Property History

Date
Event
Price
Value
1/8/23
Under Contract
-
-

 

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