57 Park Ave , Summit City, Union 07901-3917
- $1,900,000
- $1,900,000
Overview
- 4
- 4300 Sqft
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.
Address
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Address: 57 Park Ave
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City: Summit City
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State/county: Union
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Zip/Postal Code: 07901-3917
Details
Updated on April 10, 2026 at 10:34 am-
Property ID HZ4016804
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Price $1,900,000
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Property Size 4300 Sqft
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Land Area 0.08 Acres
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Garages 4
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Garage Size x x
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Year Built 1910
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Property Status Active
Additional details
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Roof Flat
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Utilities See Remarks
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Sewer Public Sewer
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Cooling Central Air, Window A/C(s)
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Heating Forced Hot Air
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County Union
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Property Type Apartment Complex
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