372-374 Summer Ave Under Contract Save Request In-Person Tour Request Virtual Tour
Newark City,NJ 07104
Key Details
Property Type Multi-Family, Commercial
Listing Status Under Contract
Purchase Type For Sale
Square Footage 3,102 sqft
Price per Sqft $188
Subdivision Forest Hills
MLS Listing ID 3917600
Style 3-Three Story
Bedrooms 6
Full Baths 4
Year Built 1899
Annual Tax Amount $6,948
Tax Year 2023
Lot Size 9,147 Sqft
Property Description
Buy one house and get two lots in the process! An incredible opportunity to purchase a fabulous 2-family home with a bonus third floor unit on a Double Lot. Welcome to 372-374 Summer Ave, a rare find in the sought-after Forest Hills section of Newark! This 2-family home situated on a double lot, offers not only incredible living space but also an excellent investment opportunity. Each unit boasts spacious living areas, high ceilings, hardwood floors, and loads of natural light. Both units feature 2 bedrooms, 1 bathroom, and ample space for comfortable living. The third-floor unit is a delightful bonus featuring 2 bedrooms, 1 bathroom, a cozy living area, and a kitchen-area. The fully finished basement offers an in-law suite with a bonus room, a kitchenette, and a full bath. The expansive double lot offers endless possibilities. The empty back lot is flanked on each side by newly constructed multifamily homes that are great examples of what can be built here. While the front lot is accessed from Summer Ave, the back lot has an entrance of its own on Woodside Ave. This property is perfect for a homeowner seeking a spacious residence on a large lot with rental income potential or a savvy investor looking for a remarkable opportunity to build in a sought-after location. All units are currently rented below market value and tenancy is month-to-month. Home is being conveyed in As-Is condition!
Location
State NJ
County Essex
Rooms
Basement Finished
Interior
Interior Features Carbon Monoxide Detector, Carpeting, Fire Alarm Sys, Fire Extinguisher, High Ceilings, See Remarks, Smoke Detector, Wood Floors
Heating Gas-Natural
Cooling Window A/C(s)
Heat Source Gas-Natural
Exterior
Exterior Feature Vinyl Siding
Utilities Available All Underground
Roof Type Asphalt Shingle
Building
Lot Description Possible Subdivision
Sewer Public Sewer
Water Public Water
Architectural Style 3-Three Story
Schools
Elementary Schools R Clemente
Middle Schools Hernandez
High Schools Technology
Others
Senior Community No