1158 Summit Ave

Description

Exceptional 4-Family Investment Opportunity in the Heights of Jersey City! 1158 Summit Ave is a legal four-family property located in one of Jersey City Heights’ most desirable and high-demand neighborhoods. This asset offers immediate income with significant upside for both investors and owner-occupants. The property features a strong rent roll with units responsible for their own utilities, keeping operating expenses low. Two units are recently renovated, where one is vacant and ready for occupancy. The other two remaining units present an excellent value-add opportunity through future updates and rent increases. An investor looking to rent out all units can achieve approximately $10,000/month in current gross income, with the potential to reach over $12,000/month once all units are renovated and rented at market value. For an owner-occupant, this is a rare chance to live in a vacant unit while collecting approximately $6,000/month in rental income, immediately and substantially offsetting monthly housing expenses. Conveniently located near transportation, shopping, dining, and parks, this property checks all the boxes for long-term appreciation, cash flow, and flexibility. Ideal for investors, 1031 exchange buyers, or savvy owner-occupants seeking strong income in a prime Jersey City location. Don’t miss this high-performing multi-family opportunity in the Heights!