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$2,395,000
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Property Description
Exceptional opportunity to acquire a fully occupied, income-generating portfolio in one of Newark's fastest-developing neighborhoods. This rare package deal features four 3-family homes (12 units total), all located on the same block:1-37 Jay Street (Block 2850 Lot 22)2-39 Jay Street (Block 2850 Lot 23)42 Hudson Street (Block 2850 Lot 33)46 Hudson Street (Block 2850 Lot 35)Each property is 100% occupied with long-term tenants, offering immediate cash flow and minimal operating overhead. Buildings are in solid condition with low property taxes and low maintenance costs, making this an ideal hands-off asset for investors looking for scale.Current gross income is strong with additional upside through rent optimization. Ideal for 1031 exchange buyers, portfolio investors, or those seeking stable, high-density cash flow in a growth market.Located just steps from Rutgers, NJIT, Essex County College, and major transportation options. The neighborhood is surrounded by new development, infrastructure upgrades, and university expansion, positioning this package for long-term appreciation.Sold strictly as-is. This is a rare-to-market multifamily opportunity with income, location, and scalability all in one block.
Full Property Details
Full Property Details for 37 Jay St
General
- Price: $2,395,000
- Taxes: $23,403 (2024)
- Status: Active
- Type: Apartment
- Source: Garden_State
- MLS ID: 3957601
- Updated: 2/18/2026
- Added to Site: 310 day(s) ago
Business
- Includes: Building & Land
Rooms
Bathrooms
- Total Bathrooms: 12
- Restrooms: 12
Additional Information
- Equipment: See Remarks
Parking
- Parking: None
Location
- County: Essex
- Driving Directions: Sussex Ave to Jay St
- Location Details: Residential Area
Heating & Cooling
- Cooling Type: No Cool
- Heating Type: 4+ Units
- Heating Fuel: Electric, Natural Gas
Utilities
- Sewer: Public Sewer
- Water: Public Water
- Utility Description: Electric, Natural Gas
Structural Information
- Construction: See Remarks
- Exterior Const.: Vinyl Siding
- Basement: Yes
- Basement Desc.: Unfinished
- Roof: Asphalt Shingles, Flat
- Stories in Building: 3
- Square Feet: 11,724
- Aprox. Leasable: 11,724 Sq. Ft.
- Year Built: 1940
Unit Information
- 1 Bedroom Units: 1
- 2 Bedroom Units: 6
- 3 Bedroom Units: 5
- Units w/Full Bath: 12
Lot Features
- Lot Size (Acres): 0.05
- Lot Size: 100x100
- Zoning: Res
Financial Considerations
- Price Per Sq. Ft.: $212
- Assessment Amount: $615,400
- Land Assmt: $83,200
- Tax Amount: $23,403
- Tax Year: 2024
Disclosures and Reports
- Ownership: Fee Simple
- Documents Avail.: Income & Expenses
- APN: 1614-02850-0000-00022-0000-
- Block: 2850
- Lot Number: 2223333
Listed by Realty One Group Legend
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Schools
Schools serving 37 Jay St
School District:Newark City School District
| Name | Grades | Distance |
|---|---|---|
Sussex Avenue Elementary School 307 Sussex Avenue, Newark, NJ 07107 | K-4 | 0.4 mi |
Camden Street Elementary School 281 Camden Street, Newark, NJ 07103 | PK-8 | 1.1 mi |
Quitman Street School 21 Quitman Street, Newark, NJ 07103 | K-8 | 1.2 mi |
Cleveland Elementary School 388 Bergen St, Newark, NJ 07103 | K-6 | 1.3 mi |
Harriet Tubman Elementary School 504 South 10th Street, Newark, NJ 07103 | PK-4 | 1.4 mi |
Lafayette Street Elementary School 205 Lafayette Street, Newark, NJ 07105 | K-8 | 1.6 mi |
Oliver Street Elementary School 86 Oliver Street, Newark, NJ 07105 | PK-8 | 1.6 mi |
South Street Elementary School 44-48 Hermon Street, Newark, NJ 07105 | K-8 | 1.8 mi |
Wilson Avenue Elementary School 19 Wilson Ave, Newark, NJ 07108 | K-8 | 2.1 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 37 Jay St
Date
Details
Price
Change
Source
7/30/2025
Price Reduced
$2,395,000
-4.01%
MLS
4/18/2025
Listed
$2,495,000
565.33%
MLS
5/12/2022
Sold
$375,000
—
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 37 Jay St
Year
Property Taxes
Change
Tax Assessment
Change
2024
$6,283
2%
$165,200
—
2022
$6,172
—
$165,200
—
2021
$6,169
33%
$165,200
—
2021
$4,650
-24%
$165,200
—
2018
$6,101
4%
$165,200
—
2017
$5,881
3%
$165,200
—
2016
$5,683
4%
$165,200
—
2015
$5,466
-12%
$165,200
—
2019
$6,213
21%
$165,200
—
2014
$5,123
—
$165,200
—
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 37 Jay St
37 Jay St, Newark, NJ 07103 (MLS# 3957601) is a Apartment property. 37 Jay St is currently listed for $2,395,000 and was received on April 18, 2025. Want to learn more about 37 Jay St? Do you have questions about finding other Apartment real estate for sale in Newark? You can browse all Newark real estate or contact a Coldwell Banker agent to request more information.

