For Multi Family

366 Summer Ave,Newark City, NJ 07104-5283

November 5, 2025

Fantastic Owner-Occupant or Investor Opportunity! Discover this well-maintained 3-family property offering strong rental potential and long-term value. Ideally located near transportation, shopping, schools, and houses of worship, this property delivers both convenience and growth opportunity. Each apartment features updated kitchens and modernized baths, with separate utilities tenants pay their own gas, heat, and electric keeping operating costs low. The recently redone basement and plumbing add peace of mind and functionality. large double back lot provides ample off-street parking or potential for a future build or subdivision (variance required), offering excellent upside for investors or developers. With low taxes, no oil tank on the property, and solid existing condition, this home is truly turnkey and ready to go.

Property ID:PT-8388066-AXZR

Offer Type:For Multi Family

Property Type:Multi-Family

Price: 699,999 $

Bedrooms:6

Year Built:1881

Listing Details

Status: Active

Location

County: Essex

Lotsize: 25X180

Lot Identifier: 20

Home Details

Open Parking: 2

Basement: Yes

Renovated: 2020

Basmnt/Desc: Yes - Full, Slab, Walkout

Acreage: 0.10

Total Baths: 3.00

Unit Style: 3-Three Story, Duplex-Side by Side

Number of Units: 3

Rooms: 15

Easement/Desc: No

Exterior Description: Brick, Vinyl Siding

Roof Description: Asphalt Shingle, Composition Shingle

Possesion: At closing

Unit 1 Appliances/Equipment: CarbMDet,CookGas,RgOvGas,Refrig,SmokeDet

Unit 1 Levels: 1

Unit 1 Rooms: 5

Unit 1 Beds: 2

Unit 1 Baths: 1.0

Unit 1 Owner/Tenant Pays: Tenant Pays Electric, Tenant Pays Gas, Tenant Pays Heat, Tenant Pays Water

Unit 1 Handicap: No

Unit 1 Rent: 1250

Unit 1 Room Description: Bedrooms, Dining Room, Family Room, Kitchen, Living Room

Unit 2 Appliances/Equipment: CarbMDet,CookGas,RgOvGas,Refrig,SmokeDet

Unit 2 Levels: 1

Unit 2 Rooms: 5

Unit 2 Beds: 2

Unit 2 Baths: 1.0

Unit 2 Owner/Tenant Pays: Tenant Pays Electric, Tenant Pays Gas, Tenant Pays Heat, Tenant Pays Water

Unit 2 Handicap: No

Unit 2 Rent: 900

Unit 2 Room Description: Bedrooms, Dining Room, Family Room, Kitchen, Living Room

Unit 3 Appliances/Equipment: CarbMDet,CookGas,RgOvGas,Refrig,SmokeDet

Unit 3 Levels: 1

Unit 3 Rooms: 5

Unit 3 Beds: 2

Unit 3 Baths: 1.0

Unit 3 Owner/Tenant Pays: Tenant Pays Electric, Tenant Pays Gas, Tenant Pays Heat, Tenant Pays Water

Unit 3 Handicap: No

Unit 3 Rent: 1250

Unit 3 Room Description: Bedrooms, Dining Room, Family Room, Kitchen, Living Room

Block Identifier: 611

County Number: 16

Town Number: 1614

YB/Desc: 1881 - Approximate

Easement: No

Parking/Driveway Description: Non-Surfaced, Off-Street Parking, On-Street Parking

Block Identifier: 611

County Number: 16

Town Number: 1614

Possession: At closing

Utilities

Water Heater: Gas

Heat Source: Gas-Natural

Heat System: 3 Units, Baseboard - Hotwater

Cool System: Window A/C(s)

Water: Public Water

Sewer: Public Sewer

Utilities: Gas-Natural

Taxes, Fees & Assessments

Tax ID For Property: 1614-00611-0000-00020-0000-

Tax Amount: $8,381.00

Tax Year: 2024

Tax Rate: 3.803%

Tax Rate Year: 2025

Land Assessment: $28,700.00

Building Assessment: $191,700.00

Total Assessment: $220,400.00

FHA Age Restricted: No

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Listing Details

366 Summer Ave,Newark City, NJ 07104-5283

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