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320 Summer Ave

Newark City, NJ 07104
  • $599,000
  • STATUS: Active Under Contract
  • ON SITE: 31 Days
  • MLS #: 4009538
Under Contract
UPDATED: 25 min ago
$599,000
  • 4
    BEDS
  • 0.09
    ACRES
  • 2
    BATHS
  • 0
    1/2 BATHS
Type:
Multi-Family
Built:
1877
County:
Area:

School Ratings & Info

Description

Welcome to this well-maintained two-unit property offering excellent income potential and flexible living space. Each unit features 2 spacious bedrooms, 1 full bathroom, a bright living room, and an eat-in kitchen perfect for comfortable everyday living. The finished attic provides additional rooms ideal for home office, storage or recreation, while the finished basement offers even more versatility for storage, entertaining, or personal use. A rare 2-car detached garage (which fits 4+ cars) adds tremendous value and convenience, with plenty of space for parking or additional storage. Conveniently located near public transportation, shopping, dining, and major highways, making commuting and daily errands a breeze. This property is an outstanding opportunity for investors seeking strong rental potential or for Owner-occupants looking to offset mortgage costs with rental income. Don't miss this versatile and income-producing property in a prime location!

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Garden State MLS logo © 2026 Garden State Multiple Listing Service, LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Christie's International Real Estate Group. Notice: The dissemination of listings on this website does not constitute the consent required by N.J.A.C. 11:5.6.1 (n) for the advertisement of listings exclusively for sale by another broker. Any such consent must be obtained in writing from the listing broker.The data relating to real estate for sale or lease on this web site comes in part from GSMLS. Real estate listings held by brokerage firms other than Christie's International Real Estate Group are marked with the GSMLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. Data last updated 2026-03-16T09:48:43.593.
www.srrealestategroup.com/homes/173009125
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320 Summer Ave Newark City, NJ 07104

  • Price: $599,000
  • Status: Active Under Contract
  • On Site: 31 Days
  • Updated: 25 min ago
  • MLS #: 4009538
4
Beds
2
Baths
0
½ Baths
0.09
Acres
1877
Built
County:
Essex
Area:
Newark City
Property Description
Welcome to this well-maintained two-unit property offering excellent income potential and flexible living space. Each unit features 2 spacious bedrooms, 1 full bathroom, a bright living room, and an eat-in kitchen perfect for comfortable everyday living. The finished attic provides additional rooms ideal for home office, storage or recreation, while the finished basement offers even more versatility for storage, entertaining, or personal use. A rare 2-car detached garage (which fits 4+ cars) adds tremendous value and convenience, with plenty of space for parking or additional storage. Conveniently located near public transportation, shopping, dining, and major highways, making commuting and daily errands a breeze. This property is an outstanding opportunity for investors seeking strong rental potential or for Owner-occupants looking to offset mortgage costs with rental income. Don't miss this versatile and income-producing property in a prime location!
Exterior Features

Approximate Lot Size 25X150 Exterior Description Aluminum Siding Garage Description Detached Garage Number Of Parking Spaces 4 Parking Driveway Description Off-Street Parking Roof Description Asphalt Shingle

Interior Features

Basement Yes Basement Description Finished Cooling None Heating 1 UnitRadiators - Steam Total Number Of Rooms 10 Unit1 Appliances Equipment Range/Oven - GasRefrigerator Unit1 Baths 1.0 Unit1 Bedrooms 2 Unit1 Fireplaces 0 Unit1 Handicap Modified No Unit1 Levels 1 Unit1 Room Description BedroomsEat-In KitchenLiving Room Unit1 Rooms 4 Unit1 Security Deposit 1450 Unit1 Sq Ft 0 Unit2 Appliances Equipment Range/Oven - GasRefrigerator Unit2 Baths 1.0 Unit2 Bedrooms 2 Unit2 Fireplaces 0 Unit2 Levels 1 Unit2 Room Description BedroomsEat-In KitchenLiving Room Unit2 Rooms 4 Unit2 Sq Ft 0

Property Features

Assessment Total 162600 Building Assessment 132300 Easement Unknown Expenses Include Taxes Fha Age Restricted No Fuel Type Gas-Natural Gross Operating Income 29280 Land Assessment 30300 Net Operating Income 23097 Sewer Public Sewer Tax Amount 6183 Tax Rate Amount 3.803 Tax Rate Year 2025 Tax Year 2024 Total Operating Expense 6184 Unit Style 3-Three Story Unit1 Lease Expiration 2027-01-31 Unit1 Owner Tenant Pays Owner Pays ElectricOwner Pays GasOwner Pays HeatOwner Pays Water Unit1 Rent 1450 Unit2 Handicap Modified No Unit2 Owner Tenant Pays Owner Pays ElectricOwner Pays GasOwner Pays HeatOwner Pays Water Unit2 Rent 990 Unit2 Security Deposit 0 Utilities ElectricGas-Natural Water Public Water Year Built Description Approximate

Listing information © 2026 Garden State Multiple Listing Service,LLC.
Listing provided courtesy of : 973-583-7594.


Garden State MLS logo © 2026 Garden State Multiple Listing Service, LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Christie's International Real Estate Group. Notice: The dissemination of listings on this website does not constitute the consent required by N.J.A.C. 11:5.6.1 (n) for the advertisement of listings exclusively for sale by another broker. Any such consent must be obtained in writing from the listing broker.The data relating to real estate for sale or lease on this web site comes in part from GSMLS. Real estate listings held by brokerage firms other than Christie's International Real Estate Group are marked with the GSMLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. Data last updated 2026-03-16T09:48:43.593.
 
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Christie's International Real Estate Group
47 Maple Street
Summit NJ, 07901