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532 Summer St
Paterson, NJ 07501
532 SUMMER · Multifamily Property For Sale
·
5 Units
Investment Highlights
- 5BED/5BATHS, CURRENTLY BEING USED AS 5 STUDIOS, CHECK ZONING, SOLD AS IS
- 2021 RENOVATIONS THROUGH OUT
- REO/BANK OWNED ASSET/RECEIVERSHIP
Executive Summary
532 Summer Street presents a compelling multi-family investment opportunity in the heart of Paterson, NJ. Recently updated in 2021, this property is configured as five individual studio units, each approximately 350 square feet, making it a desirable option for income-focused investors. Offered at $550,000, this REO asset is sold in "As-Is" condition, providing significant potential for strong rental income or repositioning strategies.
The property benefits from an excellent transit-oriented location with convenient access to the Paterson Train Station offering direct service to Secaucus and New York City. Additionally, its proximity to the Broadway Bus Terminal and major highways, including I-80, Route 19, and the Garden State Parkway, ensures seamless regional connectivity. Commuters can reach Midtown Manhattan in approximately 45 minutes, enhancing the property’s appeal to tenants seeking affordability and access to employment centers.
The property benefits from an excellent transit-oriented location with convenient access to the Paterson Train Station offering direct service to Secaucus and New York City. Additionally, its proximity to the Broadway Bus Terminal and major highways, including I-80, Route 19, and the Garden State Parkway, ensures seamless regional connectivity. Commuters can reach Midtown Manhattan in approximately 45 minutes, enhancing the property’s appeal to tenants seeking affordability and access to employment centers.
Property Facts
Property Taxes
| Parcel Number | 08-06302-0000-00029 | Improvements Assessment | $112,100 |
| Land Assessment | $18,900 | Total Assessment | $131,000 |
Property Taxes
Parcel Number
08-06302-0000-00029
Land Assessment
$18,900
Improvements Assessment
$112,100
Total Assessment
$131,000
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