57 Park Ave - Apartments FOR SALE


Summit, NJ 07901
$2,100,000 USD
201-572-9297
57 Park Ave, Summit, NJ for Sale
$2,100,000 USD
Apartments - FOR SALE
1/5
null | 4.38% Cap Rate

57 Park Ave
Summit, NJ 07901


OVERVIEW

Fully occupied five-family multifamily investment property offered for sale, featuring four 2-bedroom units and one 1-bedroom unit. The property also offers strong upside potential with a fully built-out basement currently configured as a 2-bedroom unit with kitchen and full bath, presenting the possibility of adding a sixth unit (buyer to verify). All apartments are separately metered for utilities, providing efficient operations and reduced owner expenses. The property generates approximately $92,000 in NOI and is offered at a 4.38% cap rate, making it an attractive opportunity for investors, including those seeking a 1031 exchange.

FOR SALE DETAILS

PRICE

$2,100,000 USD

PRICE/SF

$581 USD /SF

# OF UNITS

5

PRICE/UNIT

$420,000

CAP RATE

4.38%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1910

PARKING SPACES

4

LAND DETAILS

LAND ACRES

0.08 AC

LAND SF

3,485 SF

ZONING

R-5

APN/PARCEL ID

18-04003-0000-00022

ASK ABOUT THIS PROPERTY

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201-572-9297

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201-572-9297

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.