562 Summer St
Paterson City, NJ 07501
Price: $559,000
GSMLS: 4041187Type: Multi-Family
Style: 3-Three Story
Total Units: 3
Beds: 6
Baths: 3 Full
Garage: No
Year Built: 1700
Acres: 0.06
Property Tax: $7,207
Description
Excellent opportunity to own a fully renovated 3-family property in Paterson, NJ! Completely gutted and renovated in 2020, this income-producing property offers peace of mind with major updates already completed, including newer electrical, plumbing, roof, furnaces, and hot water heaters.Each of the three spacious units features 2 bedrooms, a living room, a kitchen, and a full bathroom, providing comfortable layouts that attract quality tenants. The property also offers separate utilities and separate meters, allowing tenants to pay their own gas, electric, heat, and water expenses, maximizing your return on investment.Whether you're looking to expand your investment portfolio or live in one unit while generating rental income from the others, this property is truly a turnkey cash cow with nothing left to do but collect rent. Conveniently located near shopping, schools, public transportation, and major highways.
General Info
Style:
3-Three Story
SqFt Building:
n/a
Total Rooms:
12
Basement:
Yes - Unfinished
Interior:
Carbon Monoxide Detector, Fire Extinguisher
Roof:
Asphalt Shingle
Exterior:
Aluminum Siding
Lot Size:
25X100
Lot Desc:
n/a
Parking
Garage Capacity:
No
Description:
On-Street Parking
Parking:
On-Street Parking
Spaces Available:
n/a
Unit 1
Bedrooms:
2
Bathrooms:
1
Total Rooms:
4
Room Description:
Bedrooms, Kitchen, Living Room, See Remarks
Levels:
1
Square Foot:
n/a
Fireplaces:
n/a
Appliances:
Carbon Monoxide Detector
Utilities:
Tenant Pays Electric, Tenant Pays Gas, Tenant Pays Heat, Tenant Pays Water
Handicap:
No
Unit 2
Bedrooms:
2
Bathrooms:
1
Total Rooms:
4
Room Description:
Bedrooms, Kitchen, Living Room, See Remarks
Levels:
2
Square Foot:
n/a
Fireplaces:
n/a
Appliances:
Carbon Monoxide Detector
Utilities:
Tenant Pays Electric, Tenant Pays Gas, Tenant Pays Heat, Tenant Pays Water
Handicap:
No
Unit 3
Bedrooms:
2
Bathrooms:
1
Total Rooms:
4
Room Description:
Bedrooms, Kitchen, Living Room, See Remarks
Levels:
3
Square Foot:
n/a
Fireplaces:
n/a
Appliances:
Carbon Monoxide Detector
Utilities:
Tenant Pays Electric, Tenant Pays Gas, Tenant Pays Heat, Tenant Pays Water
Handicap:
No
Unit 4
Bedrooms:
n/a
Bathrooms:
n/a
Total Rooms:
n/a
Room Description:
n/a
Levels:
n/a
Square Foot:
n/a
Fireplaces:
n/a
Appliances:
n/a
Utilities:
n/a
Handicap:
n/a
Utilities
Heating:
3 Units
Heating Fuel:
Electric, Gas-Natural
Cooling:
Window A/C(s)
Water Heater:
n/a
Water:
Public Water
Sewer:
Public Sewer
Utilities:
Electric, Gas In Street
Services:
n/a
School Information
Elementary:
n/a
Middle:
n/a
High School:
n/a
Community Information
County:
Passaic
Town:
Paterson City
Neighborhood:
n/a
Financial Considerations
List Price:
$559,000
Tax Amount:
$7,207
Land Assessment:
$86,000
Build. Assessment:
$343,400
Total Assessment:
$429,400
Tax Rate:
5.34
Tax Year:
2025
Listing Information
MLS ID:
4041187
List Date:
07-16-2026
Days On Market:
6
Listing Broker:
EXP REALTY, LLC
Listing Agent:
Hugo Meza
Request More Information
Shawn and Diane Fox
RE/MAX American Dream
3108 Route 10 West
Denville, NJ 07834
Call: (973) 277-7853
Web: EdenLaneLiving.com
