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199 Summer Ave, Newark, NJ 07104 Photo
199 Summer Ave, Newark, NJ 07104 Photo
199 Summer Ave, Newark, NJ 07104 Photo
199 Summer Ave, Newark, NJ 07104 Photo
199 Summer Ave, Newark, NJ 07104 Photo
199 Summer Ave, Newark, NJ 07104 Photo
199 Summer Ave, Newark, NJ 07104 Photo
199 Summer Ave, Newark, NJ 07104 Photo
199 Summer Ave, Newark, NJ 07104 Photo
199 Summer Ave, Newark, NJ 07104 Photo
199 Summer Ave, Newark, NJ 07104 Photo
199 Summer Ave, Newark, NJ 07104 Photo
199 Summer Ave, Newark, NJ 07104 Photo
199 Summer Ave, Newark, NJ 07104 Photo
199 Summer Ave, Newark, NJ 07104 Photo

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199 Summer Ave Newark, NJ 07104
$649,500
Active / MLS# 4032954 / Multi Unit - Multiple / Newark
4 Beds
1 Bath
1 Half Bath

Exceptional mixed-use investment opportunity in North Newark! This well-maintained two-unit property offers strong, stable cash flow with long-term tenancy in place and significant upside for investors seeking a turnkey asset.The ground-floor commercial space is occupied by a successful neighborhood grocery store with 12 years remaining on the lease, providing reliable income and built-in 3% annual rent increases. The business is NOT for sale.The second-floor residential unit features 4 bedrooms, 1 full bathroom, den/office and is currently rented on a month-to-month basis, offering flexibility for future rent adjustments or owner-user possibilities.Current rental income: Commercial Unit: $3,550/month (12 years remaining, 3% annual escalations) Residential Unit: $2,420.50/month (month-to-month)With low annual taxes of just $9,573.61 and a desirable mixed-use configuration, this property delivers excellent cash flow potential and long-term income growth. Conveniently located on a busy street with strong visibility, consistent foot traffic, and easy access to major highways, public transportation, shopping, and local amenities.

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Estimated Payment

$ 4,271.41 per month $3,284.23 Principal & Interest $797.75 Property Tax $189.44 Homeowner's Insurance

Property Details

Property Type: Multi Unit - Multiple
Basement: Bilco-Style Door
Basement: Yes
Cooling: 1 Unit, Window A/C(s)
Fuel Type: Gas-Natural
Heating: 1 Unit, Baseboard - Hotwater
Lot Size: 0.06 Acres
Roof Type: Flat
Taxes: $9,573
Year Built: 1920

Feature Descriptions

Driveway: None, On-Street Parking
Exterior: Aluminum Siding
Lot Dimensions: 0.06 acre(s)
Sewer: Public Sewer
Utilities: Gas-Natural
Water: Public Water

Listed By / Shown By

Listed By

Agency Name: RE/MAX PROFESSIONALS I
Agency Contact: 973-450-4000

Shown By

Agency Title: Hallmark Realtors
Agency Phone: (732) 574-9400

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