Description

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 commercial office space into a modern boutique three-family residence. 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 with a den, office, living room, kitchen, and terrace 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. 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. 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, it is a prime choice for developers ready to capitalize on the area's growth.

• Property Type

  Lots and Land

• County

  Essex

• Style

  Lots and Land

• AD ID

  46888898