Discover An Exceptional Development Opportunity At 48 Elm Rd In The Sought-after Ironbound Section Of Newark, Nj. This Property Comes With City-approved Plans For Transforming The Existing Single-family Home Into A Modern Boutique Three-family Residence. The Approved Plans Include A Spacious 2,160-square-foot Garage On The Ground Floor, Complemented By An Additional 365-square-foot Outdoor Patio Area. The Second Floor Features Two Units: Unit 201, A 2-bedroom, 2-bathroom Apartment Totaling 845 Sf, And Unit 202, Another 2-bedroom, 2-bathroom Unit With 797 Sf. The Third Floor Boasts A Luxurious 3-bedroom, 3-bathroom Apartment With A Den, Office, Living Room, Kitchen, And Terrace Spanning 1,697 Sf. Key Features Of The Development Include Garage: On-site Parking For 3 Cars. Elevator: Convenient Access From The Ground Floor To The Rooftop. Rooftop Garden Lounge: A Deck That Can Accommodate Up To 20 People. High-end Finishes: Hardwood Floors, Central Ac, Energy-efficient Lighting, And Brand-new Appliances In Each Unit. In-unit Laundry: Each Apartment Includes A Washer/dryer For Added Convenience. Private Financing For Acquisition And Construction Is Available Upon Request. Whether You Build And Hold Or Sell The Completed Units, This Project Presents A Promising Opportunity For Significant Returns On Investment. Located Just Minutes From Newark Penn Station, With Easy Access To Ny Penn Station, It Is A Prime Choice For Developers Ready To Capitalize On The Area's Growth.