319 Summer Avenue

Newark, NJ 07104

$699,000
Price
11
Beds
4
Baths
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

This property is a remarkable investment opportunity for savvy investors! Featuring a total of four units, this income-generating gem offers a diverse range of accommodation options. Each unit is set up with an eat-in kitchen, providing convenience and comfort for tenants. Additionally, all units also offer a living room to enjoy movie night. Unit one boasts 2 bedrooms, unit two offers an impressive 4 bedrooms, unit three provides 2 bedrooms, and unit four is equipped with 3 bedrooms, making a total...This property is a remarkable investment opportunity for savvy investors! Featuring a total of four units, this income-generating gem offers a diverse range of accommodation options. Each unit is set up with an eat-in kitchen, providing convenience and comfort for tenants. Additionally, all units also offer a living room to enjoy movie night. Unit one boasts 2 bedrooms, unit two offers an impressive 4 bedrooms, unit three provides 2 bedrooms, and unit four is equipped with 3 bedrooms, making a total of 11 bedrooms across the property. Currently, all tenants are on a month-to-month lease, presenting an excellent chance for strategic updates and enhancements to maximize the property's potential. The tenant responsibility for all utilities except water ensures a consistent cash flow for investors. Don't miss out on this golden opportunity to invest in a property with numerous possibilities and strong income potential.
  1. Listed by Lauren Turano • Coldwell Banker, Wayne • (973) 694-8000

Property Details for 319 Summer Avenue

Style
4 Family
Sub style
Top/Btm
Waterfront
Lake Rights
Garage
None

Location

Listing Courtesy of Coldwell Banker, Wayne, Lauren Turano
Add your commute
LISTING UPDATED: 04/08/2024 01:14 PM

Property Details for 319 Summer Avenue

StatusActive
MLS #23031415
Days on Market209
Taxes$8,394 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family / 4 Family
Year Built-
Lot Size0.06 AC / 2,749 SF
CountyEssex County

Location

Listing Courtesy of Coldwell Banker, Wayne, Lauren Turano
Add your commute

Building Information for 319 Summer Avenue

Stories-Residences-Year Built-Building Size-Lot Size0.06 AC / 2,749 SF

Payment Calculator

$4,514 per month

30 year fixed, 7.25% Interest

Principal and Interest

$3,815

Property Taxes

$700

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 319 Summer Avenue

Summary
Location and General Information
  • Area: 0714
  • Area name: Newark
  • Flood plain: None
  • Street Name: Summer
  • County Name: ESSEX
  • Status: ACTIVE
  • Street Number Numeric: 319
  • Zip Code: 07104
Taxes and HOA Information
  • Tax: $8,394
Owner
  • Ownership: Private
Property
Lot Information
  • Lot size: 2749.0
  • Lot: 00046
  • Year Built: Pre 1900
  • Views exposure: Sunrise, Sunset
  • Lot Description: Regular
  • Miscellaneous: None
  • Block: 00576
Property and Assessments
  • Photo: Y
  • Photo Number: 2
  • CourtAppYN: No
Utilities
  • Sewer: Municipal
  • Utilities: Sep Elec, Sep Gas, Sep Heat
  • Heatcool: Baseboard, Gas
  • Cooling Type: Baseboard, Gas
Interior and Exterior Features
Interior Features
  • Bedrooms: 11
  • Baths full: 4
  • Baths partial: 0
  • Ground Floor: Living room, Eat in kitchen, Bedrooms
  • Floor 1St: Living room, Eat in kitchen, Bedrooms
  • Floor 2Nd: Living room, Eat in kitchen, Bedrooms
  • Floor 3Rd: Living room, Eat in kitchen, Bedrooms
  • Basement: Finished, Full
  • Number of rooms: 20
  • Laundry: None
  • Lifestyle: Close/Parks, Close/School, Close/Shopg, Close/Trans, Close/Wrshp
  • Full Baths Total: 4
  • Num of Baths: 4.0
Exterior Features
  • Fireplace: None
Agent
Sale and Listing Information
  • Search Class: 2to4
  • List Price: $699,000.00
  • Listing Date: 10-11-2023
  • Status Date: 10-11-2023
Showing Information
  • Internet Remarks: This property is a remarkable investment opportunity for savvy investors! Featuring a total of four units, this income-generating gem offers a diverse range of accommodation options. Each unit is set up with an eat-in kitchen, providing convenience and comfort for tenants. Additionally, all units also offer a living room to enjoy movie night. Unit one boasts 2 bedrooms, unit two offers an impressive 4 bedrooms, unit three provides 2 bedrooms, and unit four is equipped with 3 bedrooms, making a total of 11 bedrooms across the property. Currently, all tenants are on a month-to-month lease, presenting an excellent chance for strategic updates and enhancements to maximize the property's potential. The tenant responsibility for all utilities except water ensures a consistent cash flow for investors.Don't miss out on this golden opportunity to invest in a property with numerous possibilities and strong income potential.
Rental
Rental Information
  • Ground Floor Lease: M2M
  • Floor Lease 1St: M2M
  • Floor Lease 2Nd: M2M
  • Floor Lease 3Rd: M2M

Property History for 319 Summer Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 319 Summer Avenue

Taxable ValueLand$27,200Additions$197,500Total$224,700
Tax Record2022$8,395 ($700 / month)
Home Facts
Beds0Total Finished SqFt3,858 SqFtAbove Grade Finished SqFt3,858 SqFtStories3Lot Size2,749 SqFtStyleSingle Family ResidenceYear Built1897CountyESSEXAPN14 00576-0000-00046

Schools near 319 Summer Avenue

This home is within The Newark Public School District.
Rating
School
Type
Grades
Distance
Public - PK to 8
Public - 9 to 12
Public - PK to 6
Public - PK to 6
Rating
School
Distance
Rafael Hernandez Elementary School
PublicPK to 8

Technology High School
Public9 to 12

Roberto Clemente Elementary School
PublicPK to 6

Franklin Elementary School
PublicPK to 6

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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Similar Sold Homes

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319 Summer Avenue is a multi-family home for sale in Newark, NJ 07104. This property was listed for sale on October 11, 2023 by Coldwell Banker, Wayne, it's currently listed at $699,000. This listing's school district is The Newark Public School District. Nearby schools include Rafael Hernandez Elementary School, Technology High School and Roberto Clemente Elementary School. 319 Summer Avenue is a 11-bed, 4-bath, multi-family home.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity. Subject to change at any time. Compass makes no guarantee, warranty or representation regarding the accuracy of any waterfront feature, water view or waterfront view.

Listing Courtesy of Coldwell Banker, Wayne, Lauren Turano

The data relating to the real estate for sale and sold listing information on this website comes from the New Jersey Multiple Listing Service, Inc. Virtual Office Website (VOW) program. This website may not include listings or property addresses of sellers who have directed their listing brokers to withhold their listing or their property address from display on the Internet. Sold listings may have been listed and/or sold by a real estate brokerage other than (insert office name). All information deemed reliable but not guaranteed. NLMLS makes no representation or warranty regarding the accuracy of the data. This data and information is protected under federal copyright laws which prohibit the unauthorized copying or alternation of all or any part of copyrighted materials, including certain compilations of data and information. Copyright violators may be subject to severe fines and penalties under federal law. Source: New Jersey Multiple Listing Service Inc. Last date updated 05/08/2024 10:02 AM © 2024 New Jersey Multiple Listing Service Inc. All rights reserved.