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Karen Scarpa

[email protected] +1(732) 631-4514

$ 585,000

Est. payment -/mo

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Under Contract

372-374 Summer Ave Newark City, NJ 07104

6 Beds

4 Baths

3,102 SqFt

UPDATED:

08/28/2024 02:57 AM

Key Details

Property Type Multi-Family

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

Parking Type Blacktop, Parking Lot-Exclusive, See Remarks

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

Listed by WEICHERT REALTORS

Karen Scarpa

Agent | RMFR8838475

+1(732) 631-4514

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East Brunswick, NJ

Karen Scarpa

Karen Scarpa

372-374 Summer Ave Newark City, NJ 07104

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

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372-374 Summer Ave

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