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    512 Summer St Paterson, NJ 07501

    For Sale
    $515,000

    Well-maintained multifamily property in Paterson's Sandy Hill neighborhood.

    Lot size:
    0.06 Acres

    Property Features for 512 Summer St

    General Information

    Lot size
    0.06 Acres

    Building Details

    Year built
    1980

    Source: KELLER WILLIAMS CITY VIEWS REALTY Agent RAYSA CASTRO-MARTINEZ

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Multifamily Property in Sandy Hill

    This well-maintained multifamily property is located in the Sandy Hill neighborhood of Paterson. The property features two units: one with 2 bedrooms and 1 bath, and the other with 3 bedrooms and 1 bath. It is suitable for owner-occupants or investors seeking rental income. Each unit has a functional layout and ample natural light. The property is conveniently located near schools, shopping, and public transportation. The location has a Walk Score of 80, facilitating commuting and daily errands. The property also includes a finished walk-out basement and a new roof.
    Location Intelligence

    Current Use by Public Records

    Multifamily properties

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Paterson
    County
    Passaic
    State
    New Jersey
    Longitude
    -74.163745
    Latitude
    40.9100273

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    FAQs

    What type of property is this?
    Multifamily property - Well-maintained multifamily property in Paterson's Sandy Hill neighborhood.
    Where is this multifamily property located?
    The property is located at 512 Summer St Paterson, NJ.
    What is the asking price?
    The asking price for this property is $515,000.
    What are key features of this property?
    This property features: - Two Units: Ideal for owner-occupants seeking rental income or investors.; - Spacious Units: One unit offers 2 bedrooms/1 bath, while the other provides 3 bedrooms/1 bath.; - **Convenient Location:** Enjoy a Walk Score of 80, with easy access to schools, shopping, and public transportation.
    (201) 592-8900
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    512 Summer St Paterson, NJ 07501
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    Paterson, NJ 07501
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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
    512 Summer St Paterson, NJ 07501
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