Exceptional multifamily investment opportunity in the highly desirable City of Summit, NJ! This property features 5 legal residential units with the potential for a 6th unit, subject to municipal approvals. The building offers a desirable unit mix of five 2-bedroom apartments and one 1-bedroom apartment, including the potential 6th unit.… Read More Ideally located approximately 10 minutes from the Summit train station and just 5 minutes from the vibrant downtown district, offering convenient access to an outstanding selection of restaurants, boutique shops, cafes, entertainment, and everyday amenities. Summit is known for its charming downtown, beautiful parks, thriving local businesses, and excellent transportation options, including NJ Transit's Midtown Direct service to New York City. Conveniently located near major highways, including Routes 24 and 78, providing easy access throughout Northern New Jersey. This property presents an excellent opportunity for investors seeking an income-producing asset with additional value-add potential in one of Union County's most sought-after communities. A rare opportunity to own a multifamily property in a prime Summit location!!! Read Less
Courtesy of ELITE REALTORS OF NEW JERSEY.
Listing Snapshot
Days Online
1
Last Updated
Property Type
Other
Beds
10
Lot Size
0.08 Acres
Year Built
1910
MLS Number
4061603
30 Days Snapshot Of 07901
$994k
-47%
(avg) sold price
10
-9%
homes sold
61
+41%
(avg) days on market
Snapshot
Area Map
Additional Details
Basement
Finished, Yes
Building
Built in 1910
Cooling
Wall A/C Unit(s)
Expenses
Expenses: See Remarks
Exterior Features
Brick, Metal Siding
Water Features
Public Water
Heating
Gas-Natural, Radiators - Steam
Lot
Approximate Lot Size: 41X87, 0.08 acres
Parking
4 parking spaces, Blacktop, Driveway-Shared
Property
4 units, FHA Age Restricted: No
Roof
Flat
Sewer
Public Sewer
Taxes
Annual Tax Amount: $15,317, Tax Rate: 4.471
Unit One
Handicap Accessibility: No, Carbon Monoxide Detector, Fire Alarm System, Range/Oven - Gas, Refrigerator, See Remarks
Unit Two
Handicap Accessibility: No, Carbon Monoxide Detector, Fire Alarm System, Range/Oven - Gas, Refrigerator, See Remarks
Unit Three
Handicap Accessibility: No, Carbon Monoxide Detector, Fire Alarm System, Range/Oven - Gas, Refrigerator, See Remarks
Unit Four
Handicap Accessibility: No, Carbon Monoxide Detector, Fire Alarm System, Range/Oven - Gas, Refrigerator, See Remarks
Utilities
All Underground
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