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    366 Summer Ave Newark, NJ 07104

    For Sale
    $699,999

    Multi-Family, 3-Three Story, Duplex-Side by Side - Newark City, NJ

    Lot size:
    0.10 Acres
    Days on Market:
    33
    Last Refresh:
    Dec 6 at 8:06 pm

    Property Features for 366 Summer Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Basement, Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5, Dining Room, Family Room, Kitchen, Living Room
    Bedrooms
    6
    Bathrooms
    3
    Parking
    2
    Parking features
    Paved or Surfaced
    Basement Y/N
    1
    Lot size
    0.10 Acres

    Utilities

    Heating system
    Baseboard, Hot Water (Heating)

    Building Details

    Year built
    1881
    Number of units
    3
    Building materials
    Brick, Vinyl Siding
    Roof type
    Asphalt, Composition, Shingle
    Architectural style
    Other

    NJ Metro Group LLC (973) 783-7400 [email protected]

    Listing agent KEVIN SEAN COLLYMORE (973) 783-7400

    Listing date Nov 4, 2025

    MLS# 3996066 Listing URL

    Copyright © 2025 Garden State MLS, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Newark City Multi-Family Opportunity

    This well-maintained 3-family property presents an opportunity for owner-occupants or investors. The property is located near transportation, shopping, schools, and houses of worship. Each apartment features updated kitchens and modernized baths. Separate utilities allow tenants to pay their own gas, heat, and electric. The basement and plumbing have been recently redone. The property includes a large double back lot that provides off-street parking or potential for a future build or subdivision, variance required. The property has low taxes and no oil tank. The lot size is 0.1 acres.
    Property Profile Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Newark
    County
    Essex
    State
    New Jersey
    Longitude
    -74.16899
    Latitude
    40.7642

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    FAQs

    What type of property is this?
    Triplex - Well-maintained 3-family property near transportation, shopping, and schools.
    Where is this triplex located?
    The property is located at 366 Summer Ave Newark, NJ.
    What is the asking price?
    The asking price for this property is $699,999.
    What are key features of this property?
    This property features: - Strong rental income potential in a convenient location.; - Separate utilities paid by tenants, ensuring low operating costs.; - **Large double lot offers ample off-street parking and potential for future development** (variance required).
    (973) 783-7400
    Request Owner's contact information
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    Newark, NJ 07104
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    366 Summer Ave Newark, NJ 07104
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