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$425,000 Just Listed
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Property Description
Investor Opportunity ? Value-Add Two-Family in Newark!Attention investors, contractors, and experienced value-add buyers! This two-family property presents an outstanding opportunity to add to your portfolio in one of Newark?s established residential neighborhoods. Featuring two spacious units with 3 bedrooms each, plus a finished attic offering additional living space and flexibility, this property has the layout and potential investors are looking for.Whether your strategy is to renovate and hold for long-term rental income, reposition for increased cash flow, or add value for future appreciation, this property offers an excellent foundation with significant upside. The generous floor plans and multi-family configuration create strong income-producing potential once improvements are completed.Conveniently located near Newark Penn Station, NJ Transit, major highways, shopping, restaurants, schools, and parks, the property offers excellent accessibility for future tenants and long-term investment appeal.Property is being sold strictly As-Is. This is an ideal opportunity for cash buyers, investors, contractors, or those seeking their next renovation project. Buyer is responsible for conducting all due diligence. Don?t miss the chance to unlock the full potential of this income-producing property.
Full Property Details
Full Property Details for 488 S 12th St
General
- Price: $425,000
- Taxes: $10,337 (2025)
- Status: Active
- Type: Multi-Family
- Source: Garden_State
- MLS ID: 4040252
- Updated: Today (7/13/2026)
- Added to Site: Today
Interior
- Number of Rooms: 13
Rooms
Bathrooms
- Total Bathrooms: 3
- Full Bathrooms: 3
Bedrooms
- Total Bedrooms: 7
Location
- County: Essex
- Driving Directions: Off South Orange Ave and 1th Ave.
Heating & Cooling
- Cooling Type: Window A/C(s)
- Heating Type: Electric Baseboard, See Remarks
- Heating Fuel: Natural Gas
Utilities
- Sewer: Public Sewer
- Water: Public Water
- Utility Description: Natural Gas
Structural Information
- Architectural Style: 3-Three Story, See Remarks
- Exterior Const.: Aluminum Siding
- Basement: Yes
- Basement Desc.: Unfinished
- Roof: Asphalt Shingles
- Year Built: 1940
Unit Information
Unit 1
- Unit Description: Bedrooms, Eat-In Kitchen, Family Room, Living Room, See Remarks
- Square Feet: 900
- Levels/Stories: 1
- Total Bathrooms: 1
- Bedrooms: 3
Unit 2
- Unit Description: Bedrooms, Eat-In Kitchen, Family Room, Living Room, See Remarks
- Square Feet: 1150
- Levels/Stories: 1
- Total Bathrooms: 2
- Bedrooms: 4
Unit 3
- Unit Description: Attic
Lot Features
- Lot Size (Acres): 0.05
- Lot Dimensions: 22.33 x 100
- Driveway/Sidewalk: On-Street Parking
Financial Considerations
- Assessment Amount: $228,000
- Land Assmt: $30,500
- Tax Amount: $10,337
- Tax Year: 2025
Disclosures and Reports
- Block: 287
- Lot Number: 41
Listed by Keller Williams Village Square
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Price & Sales History for 488 S 12th St
Date
Details
Price
Change
Source
7/13/2026
Listed
$425,000
—
MLS
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 488 S 12th St
Year
Property Taxes
Change
Tax Assessment
Change
2024
100%
$31,500
—
2023
100%
$31,500
—
2022
100%
$31,500
—
2021
100%
$31,500
—
2020
-100%
$31,500
—
2017
$1,121
3%
$31,500
—
2016
$1,084
4%
$31,500
—
2015
$1,042
12%
$31,500
—
2013
$930
—
$31,500
—
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 488 S 12th St
488 S 12th St, Newark, NJ 07103 (MLS# 4040252) is a Multi-Family property with 2 units containing 7 bedrooms and 3 full bathrooms. 488 S 12th St is currently listed for $425,000 and was received on July 13, 2026. Want to learn more about 488 S 12th St? 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.

