About this home

Exceptional multifamily investment opportunity in the highly desirable City of Summit, NJ! This property features 5 legal residential units with the potential for a 6th unit, subject to municipal approvals. The building offers a desirable unit mix of five 2-bedroom apartments and one 1-bedroom apartment, including the potential 6th unit. Ideally located approximately 10 minutes from the Summit train station and just 5 minutes from the vibrant downtown district, offering convenient access to an outstanding selection of restaurants, boutique shops, cafes, entertainment, and everyday amenities. Summit is known for its charming downtown, beautiful parks, thriving local businesses, and excellent transportation options, including NJ Transit's Midtown Direct service to New York City. Conveniently located near major highways, including Routes 24 and 78, providing easy access throughout Northern New Jersey. This property presents an excellent opportunity for investors seeking an income-producing asset with additional value-add potential in one of Union County's most sought-after communities. A rare opportunity to own a multifamily property in a prime Summit location!!!

Facts and features

Schools

• L C Johnson Summit Middle School

  middle · 6-8 · 0.7 mi

  8

• Summit Sr High School

  high · 9-12 · 1.4 mi

  9

• Jefferson Elementary School

  elementary · 1-5 · 0.6 mi

  8

• Cpc Weekday Nursery School & Kindergarten

  elementary · PK-K · 0.7 mi

• Jefferson Primary Center

  elementary · K · 0.6 mi

• Lincoln Hubbard Elementary School

  elementary · 1-5 · 0.9 mi

  9

Price history

• Oct 28, 2026 · Listed$1,495,000
• Jul 29, 2024 · Sold$1,249,000
• Jul 14, 2021 · Listing Removed—
• Apr 13, 2021 · Listed For Rent$1,300
• Jan 28, 2020 · Sold$900,000
• Jan 25, 2020 · Listing Removed—
• Dec 16, 2019 · Listed For Rent$1,700
• Jan 29, 2007 · Sold$660,000

Tax history

• 2025$15,317 tax · $342,600 assessed
• 2024$14,923 tax · $342,600 assessed
• 2023$14,824 tax · $342,600 assessed
• 2022$14,673 tax · $342,600 assessed
• 2021$12,182 tax · $282,200 assessed
• 2020$12,303 tax · $282,200 assessed
• 2019$12,318 tax · $282,200 assessed
• 2018$12,239 tax · $282,200 assessed

Home value

$1,557,566

• Quantarium$1,557,566

Where it is