Mixed-Use Income Property with
For Sale
$1,190,000
615 SUMMIT AVE, Union City, NJ 07087
Mixed-use property with five apartments and a commercial storefront, with separate utilities for all units.
Property SizeContact for details
Days on Market72
Property Features for 615 SUMMIT AVE
General Information
Standard status
Active
Additional Details
Business Included
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$21,674
Building Details
Stories
3
Tenancy
Multi
Listing Agency:
The Agency Rutherford Realty Inc.
Listed By:
JULIA G DAGISTANLI
(201) 679-5025
Source:
Evrealestate
Added: Jun 30
Changed: Sep 8
Last Checked: Aug 10 at 9:53AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of The Agency Rutherford Realty Inc.
Investment Insights
Based on property information with market context.
This mixed-use income property includes two 2-bedroom apartments, two 1-bedroom apartments, and one commercial storefront. The units are served by separate utilities, including gas, electric, and water, which helps limit shared landlord utility expenses and can simplify day-to-day management. The property is described as generating approximately $109,000 in annual gross income, with operating expenses of approximately $38,000 and an estimated NOI of approximately $71,000.
The building is situated on Summit Avenue in Union City and is positioned for visibility along an established commercial and residential corridor. It also offers convenient access to NJ Transit buses with service to Midtown Manhattan and is described as minutes from the Lincoln Tunnel.
All components of the property—both residential and the storefront—are included in this offering, with the rental mix structured across the five apartments plus the single commercial space.
The building is situated on Summit Avenue in Union City and is positioned for visibility along an established commercial and residential corridor. It also offers convenient access to NJ Transit buses with service to Midtown Manhattan and is described as minutes from the Lincoln Tunnel.
All components of the property—both residential and the storefront—are included in this offering, with the rental mix structured across the five apartments plus the single commercial space.
Key Highlights
- Mixed‑use property with five apartments plus one commercial storefront.
- Unit mix: two 2‑bedroom apartments and two 1‑bedroom apartments.
- Flat roof exterior feature.
Property Analytics
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Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
2,672
Businesses Nearby
Explore this area
Business Placement
Demographics for 07087, NJ
68,611
Population
27,442
Households
2.5
Avg Household Size
36
Median Age
28%
College-Educated
77%
High-School Grad
1.3 sq mi
ZIP Area
52,778
Density / Sq Mi
$65,369
Median Household Income
$35,041
Median Earnings
$1,489
Median Rent
$446,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Mixed-use property with five apartments and a commercial storefront, with separate utilities for all units.
Where is this apartment building located?
The property is located at 615 SUMMIT AVE Union City, NJ.
What is the asking price?
The asking price for this property is $1,190,000.
What are key features of this property?
This property features: Mixed‑use property with five apartments plus one commercial storefront.; Unit mix: two 2‑bedroom apartments and two 1‑bedroom apartments.; Flat roof exterior feature.
