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851 Summer Ave, Newark City, NJ 07104

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For Sale

$760,000

5 beds • 2 baths • 3 half baths • 3,294 sqft

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Multi-Family (2-4 Units)
    Property type

  • $230.72
    Price per square foot

  • Over 50 Years Old
    Age

  • Basement
    Rooms

Explore this Property

Calling all investors!! Welcome to an exceptional investment opportunity in the prime location of the Forest Hill section of Newark, NJ. This recently renovated corner property features 3 mixed use units (3 bedroom, 2 bedroom, commercial unit) fully occupied month-to-month with long term tenants. The commercial space is home to a well-established social club that has been a fixture in the community for over 40 years. New roof installed 4/24 and interior renovation in 2019. This property is an excellent addition to any investment portfolio with a solid ROI at nearly 7%. Assumable FHA mortgage for qualified buyer at a highly desirable interest rate with 25 years remaining, seller financing options open for discussion. Significant potential for high rental yields. Easy commute to the PATH train, to New York City close access to Branch Brook Park.
MLS# 3906042

Courtesy Of eXp Realty, LLC

(866) 201-6210

Property Features

  • Age
    Over 50 Years Old
  • Amenities
    Basement
  • Appliances
    Oven - Gas, Refrigerator
  • Architecture Style
    Other
  • Cooling System
    Window Unit(s) A/C
  • Exterior Type
    Aluminum Siding, Brick
  • Lot Size
    0.04 Acres
  • Roof Type
    Asphalt
  • Rooms
    Basement, Bedroom, Eat-In Kitchen, Full Bath, Half Bath, Living Room

Map and Directions

Directions to 851 Summer Ave, Newark City, NJ 07104

Home seller CENTURY 21 Realty Group

Get to know the neighborhood. A local affiliated CENTURY 21 office will help you set up tours, give advice, and negotiate with sellers.

CENTURY 21 Realty Group

(201) 854-8888
Learn More About Us

Mortgage Calculator

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Monthly Payment Breakdown

  • Principle and Interest
    $0
  • Property Taxes
    $0
  • Hazard Insurance
    $0
  • Private Mortgage Insurance
    $0
  • HOA Dues
    $0
  • Total Monthly Payment:
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Calculators provided for estimating purposes only. Consult with your lender to determine precise payment requirements.

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Copyright © 2024 Garden State MLS, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. Information being provided is 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 being provided is 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.

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This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person's eligibility to attend a school or to use or benefit from other city, town or local services.

† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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