57 Park Ave Summit, NJ $ 1,249,000
57 Park Ave
$ 1,249,000
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57 Park Ave

Summit, NJ, 07901
$ 1,249,000
Baths0.0 Sq 99,999

Monthly Estimate*

$ 8,301

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Studio

Commercial Property for sale in Summit, NJ

for $1,249,000. This 99,999 square foot building was built in 1910.

Great Investment Opportunity! This remarkable 5-unit building boasts a host of recent upgrades, making it an ideal addition to any investor's portfolio. With meticulous attention to maintenance and improvements, this property promises both durability and comfort for tenants. Roof, water service, and chimney line replaced in 2007, ensuring structural integrity and peace of mind for years to come. Siding updated in 2018, lending a contemporary appeal and minimizing exterior maintenance. A newly paved drive in 2019 enhances accessibility and curb appeal. Enjoy spacious interiors with 9ft ceilings, offering a sense of openness and airiness. Three units feature brand new kitchens and bathrooms, providing modern conveniences and style to tenants. Take advantage of the inviting patio space, perfect for relaxation or outdoor gatherings, with both front and back entrances for convenience. This property represents not only a sound investment but also a testament to quality and attention to detail. Don't miss out on this fantastic opportunity to own a well-maintained and attractive multi-unit property. Schedule you viewing today! Turnkey Investment Opportunity! rented, meticulously maintained property offers hassle-free ownership with month-to-month leases. Enjoy great condition throughout, with separate utilities and central heating. Fully occupied and with a green card available, this property is ready for seamless ownership and immediate returns.

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Commercial Pending

Price

$ 1,249,000

Bedrooms

Studio

Property Type

Commercial

Taxes

$ 12,303

Style

Apartment Complex

Year Built

1910

Town/City

Summit

County/Region

Union

MLS | Web ID

3901533

Features
General
Sewer Public Sewer
Construction Brick/Block
Heating 4+ Units Baseboard - Hotwater
Cooling 4+ Units No Cool
Utilities Gas In Street
Possession At Closing
Roof Flat
Zoning Residential
Garage Spaces 3
Year Built 1910
Tenant Pays Cable T.V. Electric Gas Heat
Township Summit City
Property Type Apartment Complex Apartment Complex
Tax Year 2020
Percent Ownership Fee Simple
Location Residential Area
Lease Information Month-To-Month
County Union
Net Operating Income 9438
Operating Expense 22693
Status Under Contract
Directions Springfield Ave. to Park Ave. or Broad St. to Park Ave.
Total Units 5
Street Name Park Ave
Tax Annual Amount 12303
Drive 1 Car Width
Leasable Area 99999
Days on Market 4
Standard Status Under Contract
Tax Assessed Value 282200
Town # 2918
Tax Lot 22
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Interior
Basement Finished Full Storage Walkout
Flooring Wood
Fuel Type Gas-Natural
Total Stories 2
Half Baths 99999
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Exterior
Lot Features Level Lot
Water Source Public Water
Exterior Description Vinyl Siding
Building Area Total 99999
Lot Dimensions 41X87
Lot Size Acres 0.00
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* Excluded Features
List By
J.C. GONZALEZ

Listing Agent

Bhgre Elite

Broker

jc@elitebhg.com

Email

Affordability Calculator

$9,326
Per Month
89%
11%
0%
Monthly Principal & Interest
$8,301
Monthly Property Taxes
$1,025
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
291163 Elementary School
291353 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
5/14/2024$1,249,000 Listed Price

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57 Park Ave, Summit, NJ, 07901 is a Commercial Property for sale at $1,249,000 with 99,999 sqft. 57 Park Ave is a studio with 0.0 baths and was built in 1910. The property's zip code is 07901 which is in Summit, NJ