Newark, NJ

[Thomas P.]

Can someone please break down the wards in Newark, NJ. I am looking for some buy and hold properties but do not want to go to a war zone to collect rent. I have heard good and bad about Newark. Thank you all!

[Angelique Diaz]

@James S. Taylor You’re correct but if you want to get around the restrictions, the ordinance details the type of properties which have exceptions as well. They also provide the details of the calculation. So basically, you cannot turn an average building into luxury apartments and raise rent by $1000 for individuals who live there already but you can make some money. How much is up to the amount of work you put in.

You stated 2-4 units in Newark, which is very broad and almost 60% (good guess) of its inventory. Why not trim down your criteria and hone in on specific properties, then define where they fall based on the ordinance.

I will speak with the city today and message you their response (if I receive one and have a happy person willing to work answer the phone). Wish me luck!