57 Park Ave, Summit City, NJ 07901
57 Park Ave, Summit City, NJ 07901
57 Park Ave, Summit City, NJ 07901
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Kellene Addison

Kellene Addison

+1(862) 251-4915
$ 1,900,000
Est. payment | /mo

4,300 SqFt

Save
$ 1,900,000
Est. payment | /mo
Save

4,300 SqFt

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 4,300 sqft

Price per Sqft $441

MLS Listing ID 4016804

Year Built 1910

Annual Tax Amount $15,317

Tax Year 2025

Lot Size 3,484 Sqft

Property Description

Prime Investment Opportunity " 57 Park Ave, Summit, NJ Welcome to an exceptional multi-family property located in the highly sought-after town of Summit. This well-positioned asset features 5 residential units, consisting of two 1-bedroom apartments and three 2-bedroom apartments, offering a solid and diverse rental mix with strong income potential. Situated in a prime location, the property is just minutes from downtown, shopping, dining, and major transportation making it highly desirable for tenants and ensuring consistent demand. What truly sets this property apart is its value-add potential. The basement currently includes an additional 2-bedroom layout, presenting the opportunity for a 6th unit. With proper approvals, including transitioning to 4A zoning, this could significantly increase rental income and overall property value. Highlights 5 Existing Units (2 one-bedrooms, 3 two-bedrooms) Prime Summit Location Strong Rental Demand Area Value-Add Opportunity with Potential 6th Unit Basement Layout Ready for Conversion (subject to approvals) Ideal for Investors Looking to Increase Cash Flow This is a rare chance to acquire a property in one of Union County's most desirable markets with built-in upside. Property also features a well-maintained common laundry area equipped with two coin-operated machines, providing added convenience for tenants and additional income potential.

Location

State NJ

County Union

Zoning R-5

Rooms

Basement Finished, Storage, Walkout

Interior

Heating Electric, Gas-Natural

Cooling Central Air, Window A/C(s)

Equipment Fire Alarm, Fixtures, Refrigeration Unit, Restrooms - Private, Restrooms - Public, Smoke Detector

Heat Source Electric, Gas-Natural

Exterior

Exterior Feature Brick/Block, Vinyl Siding

Utilities Available See Remarks

Roof Type Flat

Building

Story 2

Sewer Public Sewer

Water Public Water

Others

Ownership Fee Simple

Garden State MLS(GSMLS)
Information deemed reliable but not guaranteed. Copyright © 2026 Garden State Multiple Listing Service, L.L.C. All rights reserved.
Listed by HIGHMARK REAL ESTATE

Nearby Locations

Kellene Addison

"Elevating Real Estate Dreams with Heart and Expertise."

+1(862) 251-4915

addisonrealtor@gmail.com

111 Howard Blvd. Suite 202, Arlington, Jersey, 07856, United States

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57 Park Ave