199 Summer Ave, Newark, NJ 07104

Newark
Local realty services provided by:Better Homes and Gardens Real Estate Elite
199 Summer Ave,Newark City, NJ 07104
$649,500
  • 4 Beds
  • 1 Baths
  • - sq. ft.
  • Multi-family
  • Active
Listed by: jeanette rodriguez
Office: re/max professionals i973-450-4000
MLS#:4032954
Source:NJ_GSMLS

Price summary

  • Price:$649,500

About this home

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...

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Home facts

  • Year built:1920
  • Listing ID #:4032954
  • Added:143 day(s) ago
  • Updated:October 30, 2026 at 02:37 PM

Rooms and interior

  • Bedrooms:4
  • Total bathrooms:1
  • Full bathrooms:1
  • Half bathrooms:1
  • Rooms Total:7
  • Basement Description:Basement, Bilco-Style Door

Heating and cooling

  • Cooling:1 Unit, Wall A/C Unit(s)
  • Heating:1 Unit, Baseboard - Hotwater

Structure and exterior

  • Roof:Flat
  • Year built:1920
  • Lot area:0.06 Acres
  • Architectural Style:2-Two Story
  • Construction Materials:Aluminum Siding

Utilities

  • Water:Public Water
  • Sewer:Public Sewer

Finances and disclosures

  • Price:$649,500
  • Tax amount:$9,573 (2025)

Features and amenities

  • Amenities:Gas-Natural

Parking

  • Parking description:On-Street Parking
The data relating to real estate for sale on this website comes in part from the IDX Program of Garden State Multiple Listing Service, L.L.C. Real estate listings held by other brokerage firms are marked as IDX Listing. Information deemed reliable but not guaranteed. 2026 Garden State Multiple Listing Service, L.L.C. All rights reserved. Notice: The dissemination of listings on this website does not constitute the consent required by N.J.A.C. 11:5.6.1 (n) for the advertisement of listings exclusively for sale by another broker. Any such consent must be obtained in writing from the listing broker. This information is being provided 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. Date Last Updated October 30, 2026

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