24 Franklin Pl Summit, NJ $ 1,888,000
24 Franklin Pl
$ 1,888,000
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24 Franklin Pl

Summit, NJ, 07901
$ 1,888,000
Bedrooms6 Baths5.0 Sq 3,712

Monthly Estimate*

$ 11,625

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Multi-Family Home for sale in Summit, NJ

for $1,888,000 with 6 bedrooms and 5 full baths. This 3,712 square foot home was built in 1898 on a lot size of 0.27.

Welcome to a sun-filled & well-maintained four-unit multifamily home with 3 vacant units, (can be delivered fully vacant), a front lawn & backyard, located in the heart of Summit, a short walk to Summit Train Station & Downtown. Ideal for owners/renters who commute to Manhattan, Wall Street, etc. The Summit schools are highly rated & among the Best. The 1st floor has 2 one-bedroom apartment units. Unit A has one bedroom, one bath, & one living room sun drenched by panoramic bay-window. The living room & bedroom are separated by a French door. These rooms are spacious. Apartment B has one bedroom, one living room, a bath & one large oversized kitchen w/ large dining area. The entire 2nd floor is a newly remodeled 3 bedroom unit w/ a huge living room, ideal for owner occupancy or rental. The spaciously remodeled kitchen, the new wood floors In living room & spacious 3 bedrooms add to the charm of this beautiful unit. The coffered ceiling adds to the beauty of this unit. 2 bathrooms, 3 bedroom rental units are rare & valuable in Summit, commanding premium rents. On the 3rd floor is the remodeled 4th unit w/new HW floors. The bedroom is comfortable & the living room is spacious. The new kitchen has new appliances. This building commands premium rents due to proximity to train station & downtown. The 8 parking spaces bring in additional income, commuters prefer to rent the assigned spaces. Possible conversion to 5 units & condo plans drawn up by architect. Great Potential!!!

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Multi-Family Active

Price

$ 1,888,000

Bedrooms

6

Full Bath

5

Property Type

Multi-Family

Taxes

$ 15,934

Style

3-Three Story

Lot Size

0.27

Year Built

1898

Town/City

Summit

County/Region

Union

MLS | Web ID

4001836

Features
Interior
Interior Amenities Blinds Carbon Monoxide Detector Carpeting Fire Extinguisher High Ceilings Smoke Detector Tile Floors Wood Floors
Basement Full Unfinished
Unit 1 Baths Total 1.0
Unit 1 Beds Total 1
Unit 2 Baths Total 1.0
Unit 2 Beds Total 1
Unit 3 Baths Total 2.0
Unit 3 Beds Total 3
Unit 4 Baths Total 1.0
Unit 4 Beds Total 1
Fuel Type Electric Gas-Natural
Half Baths 0
Total Bedrooms 6
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General
Sewer Public Sewer
Heating 3 Units Baseboard - Hotwater Radiators - Hot Water
Cooling Window A/C(s)
Utilities Electric Gas-Natural
Possession TBA
Roof Asphalt Shingle Flat
Water Heater Gas
Zoning Residential
Architectural Style 3-Three Story
Exclusions None
Year Built 1898
Township Summit City
Tax Year 2024
Gross Income 0
County Union
Net Operating Income 0
Operating Expense 0
Subdivision Name Northside Downtown
Total Rooms 23
Full Baths 5
Status Active
Directions Summit Ave or Beechwood rd to Franklin Place.
High School Summit HS
Open Parking Spaces 8
Number Of Units Total 4
Elementary School Lincoln-Hubbard
Tax Annual Amount 15934
Home Warranty Y/N No
Middle/Junior High School Summit MS
Drive 2 Car Width Assigned Blacktop
Standard Status Active
Tax Assessed Value 365800
Town # 2918
Tax Lot 17
Farm Assessment No
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Exterior
Exterior Amenities Curbs Deck See Remarks Sidewalk Storm Window(s) Thermal Windows/Doors
Lot Features Level Lot
Water Source Public Water
Exterior Description Aluminum Siding
Building Area Total 3712
Lot Dimensions 65X180
Lot Size Acres 0.27
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* Excluded Features
List By
Arlene Gonnella

Listing Agent

Weichert Realtors

Broker

Short Hills

Office

(201) 306-1357

Phone

Affordability Calculator

$12,953
Per Month
90%
10%
0%
Monthly Principal & Interest
$11,625
Monthly Property Taxes
$1,328
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.25% 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
289020 Elementary School
290614 Middle School
Summit HS High School
Pricing History
DatePricePrice ChangeDescription
12/16/2025$1,888,000 Listed Price

Map


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24 Franklin Pl, Summit, NJ, 07901 is a Multi-Family Home for sale at $1,888,000 with 3,712 sqft and a lot size of 0.27. 24 Franklin Pl has 6 bedrooms, 5.0 baths, and was built in 1898. The property's zip code is 07901 which is in Summit, NJ