USANJSummit57 Park Ave
57 Park Ave | Image 1
57 Park Ave | Image 2
57 Park Ave | Image 3

$2,100,000

For Sale

15 days ago

57 Park Ave, Summit

Condo

MLS® 4016804

0 Bed

5 Bath

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  • Key Facts
  • Description
  • Map

Key Facts

Type Apartment
Levels Commercial Sale
Size -
Garage 
HOA Fees 
Taxes $15,317
Days Active 15
Approx. Age 1910
MLS® Number 4016804

Property Address: 57 Park Ave, Summit, NJ, 07901-3917

Average square foot calculated using Size range provided by listing agent.

Description

Prime Investment Opportunity " 57 Park Ave, Summit, NJ Welcome to an exceptional multi-family property located in the highly sought-after town of Summit. This well-positioned asset features 5 residential units, consisting of two 1-bedroom apartments and three 2-bedroom apartments, offering a solid and diverse rental mix with strong income potential. Situated in a prime location, the property is just minutes from downtown, shopping, dining, and major transportation making it highly desirable for tenants and ensuring consistent demand. What truly sets this property apart is its value-add potential. The basement currently includes an additional 2-bedroom layout, presenting the opportunity for a 6th unit. With proper approvals, including transitioning to 4A zoning, this could significantly increase rental income and overall property value. Highlights 5 Existing Units (2 one-bedrooms, 3 two-bedrooms) Prime Summit Location Strong Rental Demand Area Value-Add Opportunity with Potential 6th Unit Basement Layout Ready for Conversion (subject to approvals) Ideal for Investors Looking to Increase Cash Flow This is a rare chance to acquire a property in one of Union County's most desirable markets with built-in upside. Property also features a well-maintained common laundry area equipped with two coin-operated machines, providing added convenience for tenants and additional income potential.
MLS® Number4016804
Locker
Ensuite Laundry
Balcony
Furnished
Laundry Level
Exposure
Exterior
Garage
Approx. Age1910
Stories
Pets

Included in Maintenance Fee

Heat
Hydro
Water
Building Insurance
Condo Taxes
Cable TV
Central Air
Parking Maintenance

Utilities

Heat
A/C
Heating Fuel

Extras

Price History

-End Date
Not Sold YetSold Price

For Sale

Mar 26, 2026List Date
$2,100,000List Price
  • Commute

Commute

Starting Address
Destination Address
57 Park Ave, Summit,

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