$1,495,000

Rare development opportunity in one of Newark's most desirable and rapidly evolving locations. This property consists of 2 fully cleared lots totaling approximately 12,377 square feet, ideally positioned near Downtown Newark and the University Heights section. Surrounded by significant new development this location offers strong long term upside for developers and investors looking to capitalize on Newark's continued rental growth. The site offers potential for the development of 5 Triplex Unit Structures and or 24 residential units as of right, creating a compelling opportunity for a sizable multifamily building and or individual triplexes. With slight density increase and or variance the unit counts can increase drastically. A substantial portion of the early site preparation has been completed allowing a developer to focus on design, approvals, and construction. Buyer and buyer's representatives are responsible for independently verifying all zoning, permitted uses, density, unit count, buildability, and development potential directly with the City of Newark. No representations or guarantees are made regarding approvals or development rights. Renderings, illustrations, and digitally enhanced images are for conceptual and marketing purposes only and may not reflect the final design, finishes, materials, landscaping, dimensions, or completed condition of the property. All plans, features, and specifications are subject to change. Buyers should independently verify all information.