New Construction Triplex with Rooftop
For Sale
$2,367,000
1003 SUMMIT AVE, Jersey City, NJ 07307
3-4 Family, Multi-Level, Jersey City, NJ
Property Size4,618 SF
Price / SF$512.56
Days on Market95
Property Features for 1003 SUMMIT AVE
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
9
Bathrooms
7
Full bathrooms
6
Half bathrooms
1
Rooms
Bathroom 4, Bedroom 1, Bedroom 3, Bedroom 5, Bathroom 2, Bedroom 7, Bedroom 2, Bedroom 6, Bedroom 8, Bathroom 7, Bathroom 3, Bathroom 6, Bedroom 4, Bathroom 1, Bathroom 5, Bedroom 9
Directions
Bowers & Charles Street
Subdivision
JC, Heights
Standard status
Active
Amenities
private backyard
deck
private rooftop deck
in-unit washer/dryer
central air conditioning
forced hot air heating
Building Details
Architectural style
Other
Listing Agency:
NEST SEEKERS NEW JERSEY LLC
Listed By:
MARC BRENNER
(201) 225-8655
Added: Jul 23
Changed: Oct 19
Last Checked: Oct 25 at 2:06AM
MLS# 260014563
Copyright © 2026 Realty MLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This newly constructed three-family property at 1003 Summit Ave includes approximately 4,618 square feet, nine bedrooms, and 6.5 bathrooms. The residences are arranged with open living areas, high ceilings, wide-plank white oak flooring, oversized windows, and kitchens equipped with Bosch stainless steel appliances, quartz counters, custom cabinetry, and islands. In-unit LG washer and dryers, central air conditioning, and forced hot air heating serve each residence.
Outdoor features include a private backyard, a 300-square-foot deck, and a private rooftop deck. The property is one block from Central Avenue in Jersey City Heights, with access to restaurants, cafes, boutiques, parks, NJ Transit, the Hudson-Bergen Light Rail, and PATH service. The location provides connections to Hoboken, Downtown Jersey City, and Manhattan.
Outdoor features include a private backyard, a 300-square-foot deck, and a private rooftop deck. The property is one block from Central Avenue in Jersey City Heights, with access to restaurants, cafes, boutiques, parks, NJ Transit, the Hudson-Bergen Light Rail, and PATH service. The location provides connections to Hoboken, Downtown Jersey City, and Manhattan.
Key Highlights
- Newly constructed three‑family property with approximately 4,618 square feet
- Nine bedrooms and 6.5 bathrooms across the property
- Private backyard, 300‑square‑foot deck, and private rooftop deck
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$104,806
Cap Rate
4.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,096,120
$2.1M
Cap Rate 7%
$1,497,229
$1.5M
Cap Rate 9%
$1,164,511
$1.2M
Market Conditions
NOI Build-Up for 4,618 SF
Gross rent
$157.9K $34.20/SF
− Vacancy
−$8.2K −$1.78/SF
EGI
$149.7K $32.42/SF
− OpEx
−$44.9K −$9.73/SF
NOI
$104.8K $22.70/SF
Area
Jersey City, NJ
Vacancy
5.20%
Lease Rate
$34.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,096,120
Cap Rate 7%
$1,497,229
Cap Rate 9%
$1,164,511
Alternative Uses
Best Use
Multifamily LT 5
$1.50M
$1.31M – $1.75M
NOI $104,806 @ 7.0% cap · market cap 4.43%
Second Best
Apartment 5plus
$1.34M
$1.18M – $1.57M
NOI $94,011 @ 7.0% cap · market cap 3.97%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,754
Businesses Nearby
Explore this area
Business Placement
Demographics for 07307, NJ
44,247
Population
18,762
Households
2.4
Avg Household Size
35
Median Age
46%
College-Educated
87%
High-School Grad
1.9 sq mi
ZIP Area
23,288
Density / Sq Mi
$80,745
Median Household Income
$52,729
Median Earnings
$1,708
Median Rent
$574,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three residences offer contemporary finishes, private outdoor areas, and individual laundry, heating, and cooling systems.
Where is this triplex located?
The property is located at 1003 SUMMIT AVE Jersey City, NJ.
What is the asking price?
The asking price for this property is $2,367,000.
What are key features of this property?
This property features: Newly constructed three‑family property with approximately 4,618 square feet; Nine bedrooms and 6.5 bathrooms across the property; Private backyard, 300‑square‑foot deck, and private rooftop deck
