Listing Details

284 Summer St,Passaic City, NJ 07055-3218

  • December 1, 2025

Description

2-family investment opportunity in Passaic, NJ, perfect for investors or first-time buyers seeking strong rental income. This extraordinary oversized property features a beautifully maintained two-family home that blends modern design with everyday comfort, ideal for buyers looking for built-in rental assistance to help offset mortgage costs. The entire home, including the attic and basement, has been newly renovated, offering fresh, move-in-ready spaces throughout. Unit 1 offers 2 bedrooms, 1 full bathroom, a formal living room, dining room, a beautifully updated kitchen, and a sturdy spiral staircase leading to a full finished basement for added functional space. Unit 2 includes 3 bedrooms, 1 full bathroom, and a spacious living room, while the finished attic provides 2 additional rooms and 3 large closets for valuable bonus space. The huge lot includes 6 outdoor parking spaces and a remarkable 7-car garage that can fit up to 12 vehicles, ideal for car collectors, contractors, or additional rental income. The property is exceptionally clean and well-kept, featuring generous outdoor space, a brand-new patio, and a new roof. Current rent is below market value, offering immediate upside for investors. Located in a prime area of Passaic, it is close to public transportation, parks, schools, shopping, places of worship, and offers easy access to major highways and NYC transportation. DON’T MISS THIS RARE GEM!!

Details

Last Updated On: December 1st, 2025 at 1:33 pm
Property ID:PT-16826707-AXZR
Offer Type:For Multi Family
Property Type:Multi-Family
Price: 1,599,000 $
Bedrooms:7
Year Built:1930

Additional Details

Listing Details

Status: Active

Location

County: Passaic
Lotsize: 50X187
Lot Identifier: 20
Lot Description: Level Lot
Lot Identifier: 20

Home Details

Open Parking: 6
Basement: Yes
Renovated: 2024
Basmnt/Desc: Yes - Finished, Full
Acreage: 0.21
Total Baths: 3.00
Unit Style: 2-Two Story
Number of Units: 2
Rooms: 12
Easement/Desc: Unknown
Exterior Description: Vinyl Siding
Roof Description: Asphalt Shingle
Possesion: At Closing
Unit 1 Appliances/Equipment: Carbon Monoxide Detector, Dishwasher, Dryer, Microwave Oven, Range/Oven - Gas, Refrigerator, Smoke Detector, Washer
Unit 1 Levels: 2
Unit 1 Rooms: 5
Unit 1 Beds: 2
Unit 1 Baths: 2.0
Unit 1 Owner/Tenant Pays: Owner Pays Water, Tenant Pays Electric, Tenant Pays Gas, Tenant Pays Heat
Unit 1 Handicap: No
Unit 1 SqFt: 9999
Unit 1 Room Description: Bedrooms, Dining Room, Eat-In Kitchen, Family Room, Laundry Room, Living Room
Unit 2 Appliances/Equipment: Carbon Monoxide Detector, Dishwasher, Range/Oven - Gas, Refrigerator, Smoke Detector
Unit 2 Levels: 2
Unit 2 Rooms: 5
Unit 2 Beds: 3
Unit 2 Baths: 1.0
Unit 2 Owner/Tenant Pays: Owner Pays Water, Tenant Pays Electric, Tenant Pays Gas, Tenant Pays Heat
Unit 2 Handicap: No
Unit 2 SqFt: 9999
Unit 2 Rent: 2500
Unit 2 Room Description: Attic, Bedrooms, Eat-In Kitchen, Family Room, Living Room, Porch
Unit 2 Security Deposit: 2500
Garage Description: Oversize Garage
Number of Garage Spaces: 7
Block Identifier: 2190
County Number: 25
Town Number: 2507
YB/Desc: 1930 - Approximate, Renovated
Easement: Unknown
Parking/Driveway Description: Concrete Strip
Block Identifier: 2190
County Number: 25
Town Number: 2507
Possession: At Closing

Taxes, Fees & Assessments

Gross Operating Income: 112800
Net Operating Income: 93900
Expense Include: Cold Water, Taxes
Tax ID For Property: 2507-02190-0000-00020-0000-
Tax Amount: $12,661.00
Tax Year: 2024
Tax Rate: 4.123%
Tax Rate Year: 2025
Land Assessment: $96,800.00
Building Assessment: $210,300.00
Total Assessment: $307,100.00
FHA Age Restricted: No

Utilities

Heat Source: Gas-Natural
Heat System: 2 Units, Baseboard - Hotwater
Cool System: 1 Unit, Central Air, Window A/C(s)
Water: Public Water
Sewer: Public Sewer
Utilities: Electric, Gas-Natural

Features

  • Bar-Dry
  • Carbon Monoxide Detector
  • Chandelier
  • Deck
  • FencPriv
  • Gazebo
  • High Ceilings
  • Marble Floors
  • MetalFnc
  • Walk-In Closet

Statistics

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