$1,300,000

721 Springfield Ave Newark, NJ 07103

West Side Neighborhood

Estimated payment $7,805/month

5 Beds
4 Baths
-- Sq Ft
-- Price per Sq Ft

About This Home

Rare and premier opportunity to own a prime piece of Newark real estate at 721 Springfield Ave, situated directly in a rapidly transforming municipal redevelopment zone. Offered at $1.3M, this property boasts an ultra-visible, high-traffic location with immense upside. Strategically positioned on a block where two surrounding plots of land are also located within the redevelopment footprint, this site offers savvy buyers a front-row seat to future area assemblage and massive neighborhood expansion. Capitalize on Newark's major revitalization momentum, favorable commercial/mixed-use zoning, and maximum brand exposure. Being sold strictly AS-IS. Buyer is responsible for all municipal certificates, variances, and due diligence. Secure this anchorlocation before the surrounding area fully booms!

Listing Agent

ONYEMAECHI OKAFOR

REALTY 33, LLC Brokerage Phone: 973-762-9000 Listed on: 08/27/2026

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $7,998

Lot Details

  • 32 Sq Ft Lot
  • Corner Lot

Parking

  • On-Street Parking

Home Design

  • Brick Exterior Construction

Bedrooms and Bathrooms

  • 5 Bedrooms

Basement

  • Walk-Out Basement

Community Details

  • Net Operating Income $61,800

Listing and Financial Details

  • Assessor Parcel Number 1614-02640-0000-00038-0000-

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$7,998

Lot Details

32 Sq Ft Lot

Listing Details

  • Unit Style: 2-Two Story
  • County Name: Essex
  • Directions: Corner of springfield n s 20th st
  • I D: 5456364
  • Attribution Contact: 973-762-9000
  • MLS Status: Active
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 5
  • Total Full Bathrooms: 2
  • Total Number of Half Bathrooms: 2
  • Basement: Yes
  • Basement Description: Walkout

Exterior Features

  • Exterior Description: Brick

Garage/Parking

  • Parking Driveway Description: On-Street Parking

Lot Info

  • Lot Size: 32.10X80
  • Easement: Unknown
  • Lot Description: Corner
  • Lot I D Tax: *
  • Lot Size Tax: *
  • Total Acres: 0.06
  • Zoning: Commercial re

Tax Info

  • Tax Acres: *
  • Assessed Improvement Value: *
  • Assessed Land Value: *
  • Total Tax Assessed: *
  • Streetname Tax: *
  • Street Number Tax: *
  • Tax Amount: 7998
  • Tax Amount Tax: *
  • Assessor Parcel Number: 1614-02640-0000-00038-0000-
  • Tax Rate Amount: 3.999
  • Tax Rate Tax: *
  • Tax Year Tax: *
  • Tax Year: 2025

Map

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $1,822 $163,100 $22,400 $140,700
2024 $6,371 $146,000 $21,800 $124,200
2023 $1,587 $133,300 $21,800 $111,500
2022 $1,587 $125,300 $21,800 $103,500
2021 $1,429 $113,400 $16,800 $96,600
2020 $1,130 $92,600 $16,800 $75,800
2019 $1,224 $89,000 $16,800 $72,200
2018 $1,114 $84,100 $16,800 $67,300
2017 $1,192 $82,500 $16,800 $65,700
2016 $989 $80,300 $16,800 $63,500
2014 $886 $81,100 $16,800 $64,300
2013 $778 $78,100 $16,800 $61,300
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft
08/27/2026 08/27/26 For Sale $1,300,000 -- --
Source: Garden State MLS

Source: Garden State MLS

MLS Number: 4049071

Garden State MLS
New Jersey Essex County Newark 07103 West Side

721 Springfield Ave, Newark, NJ

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Listing Agent
ONYEMAECHI OKAFOR
REALTY 33, LLC
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