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$560,000
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Property Description
Investor Special 3-Unit in Newark Great opportunity for investors. Three-family property with strong rental potential. Each unit has its own kitchen, bath, and living area. Needs renovation but offers excellent upside for income or resale. Full basement for storage. Convenient location close to transportation and schools. Property sold as-is, Purchaser responsible for CO.
Full Property Details
Full Property Details for 116 Mayor Gibson
General
- Price: $560,000
- Taxes: $11,595 (2024)
- Status: Active
- Type: Multi-Family
- Source: Garden_State
- MLS ID: 3994285
- Updated: 10/23/2025
- Added to Site: 85 day(s) ago
Interior
- Number of Rooms: 13
Rooms
Bathrooms
- Total Bathrooms: 3
- Full Bathrooms: 3
Bedrooms
- Total Bedrooms: 6
Location
- County: Essex
- Driving Directions: see map
Heating & Cooling
- Cooling Type: No Cooling
- Heating Type: Baseboard - Hotwater
- Heating Fuel: Natural Gas
Utilities
- Sewer: Public Sewer
- Water: Public Water
- Utility Description: Natural Gas
Structural Information
- Architectural Style: 3-Three Story
- Exterior Const.: See Remarks
- Basement: Yes
- Basement Desc.: Unfinished
- Roof: See Remarks
- Year Built: 1897
Unit Information
Unit 1
- Unit Description: See Remarks
- Levels/Stories: 1
- Total Bathrooms: 1
- Bedrooms: 2
Unit 2
- Unit Description: See Remarks
- Levels/Stories: 1
- Total Bathrooms: 1
- Bedrooms: 2
Unit 3
- Unit Description: See Remarks
- Levels/Stories: 1
- Total Bathrooms: 1
- Bedrooms: 2
Lot Features
- Lot Size (Acres): 0.07
- Lot Dimensions: 30 x 100
- Driveway/Sidewalk: See Remarks
Financial Considerations
- Assessment Amount: $288,000
- Land Assmt: $16,900
- Tax Amount: $11,595
- Tax Year: 2024
Disclosures and Reports
- Block: 522
- Lot Number: 51
Listed by Keypoint Realty Llc
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Schools
Schools serving 116 Mayor Gibson
School District:Newark City School District
| Name | Grades | Distance |
|---|---|---|
Roberto Clemente Elementary School 257 Summer Avenue, Newark, NJ 07104 | K-4 | 0.2 mi |
Rafael Hernandez Elementary School 345 Broadway, Newark, NJ 07104 | PK-4 | 0.3 mi |
Franklin Elementary School, Newark, NJ 42 Park Avenue, Newark, NJ 07104 | PK-4 | 0.4 mi |
McKinley Elementary School, Newark, NJ 1 Colonnade Place, Newark, NJ 07104 | K-4 | 0.8 mi |
Dr. William H. Horton Elementary School 291 North 7th Street, Newark, NJ 07107 | 5-8 | 1 mi |
Luis Munoz Marin Ele 663 Broadway, Newark, NJ 07104 | PK-4 | 1 mi |
First Avenue Elementary School 214 1st Avenue, Newark, NJ 07107 | 5-8 | 1 mi |
Dr. E. Alma Flagg Elementary School 150 Third St, Newark, NJ 07104 | K-4 | 1.1 mi |
Elliott Street Elementary School 721 Summer Avenue, Newark, NJ 07104 | K-4 | 1.3 mi |
Disclaimer:
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 116 Mayor Gibson
Date
Details
Price
Change
Source
10/23/2025
Listed
$560,000
1.82%
MLS
5/31/2022
Sold
$550,000
—
Public Record
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Tax History
Tax History for 116 Mayor Gibson
Year
Property Taxes
Change
Tax Assessment
Change
2024
$11,595
2%
$304,900
—
2023
$11,367
—
$304,900
—
2022
$11,391
—
$304,900
—
2021
$11,385
64%
$304,900
130%
2021
$6,948
39%
$132,800
—
2019
$4,995
2%
$132,800
—
2018
$4,904
4%
$132,800
—
2017
$4,728
4%
$132,800
—
2016
$4,568
4%
$132,800
—
2015
$4,394
7%
$132,800
—
2014
$4,118
—
$132,800
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 116 Mayor Gibson
116 Mayor Gibson, Newark, NJ 07104 (MLS# 3994285) is a Multi-Family property with 3 units containing 6 bedrooms and 3 full bathrooms. 116 Mayor Gibson is currently listed for $560,000 and was received on October 23, 2025. Want to learn more about 116 Mayor Gibson? Do you have questions about finding other Multi-Family real estate for sale in Newark? You can browse all Newark real estate or contact a Coldwell Banker agent to request more information.

