PROPERTY DESCRIPTION

1076 Summit Avenue is a unique commercial mixed-use investment opportunity in the heart of Jersey City Heights. This property stands on a 3,200 square foot lot and offers substantial upgrades and improvements. The building comprises eight units, with five recently renovated. Each of these revamped units now boasts modern amenities, including new central air systems, redone layouts, and modern styling. The exterior of the building has also received a facelift to restore its original character. Significant updates have been made to the property's infrastructure, ensuring a turnkey investment. The structural renovations include reframed and reinforced existing framing at the commercial level, a new electrical service with a line extended from the street, and updated gas and sewer lines. A new steel cellar door and a newly installed skylight enhance functionality and aesthetics. New NJ Green Card in 2024. Exterior improvements feature new shop windows and doors for commercial spaces, a restored cast iron column entrance, and new siding on the ground level paired with a fresh repaint of upper levels. The cornice has been meticulously rebuilt, incorporating original elements where possible. The staircase railings and banisters have been refinished, while the parking lot is newly repaved and striped. Fob key front door access with video surveillance ensures enhanced security. Inside, three of the residential units and the two storefronts have been completely gut renovated. These residential units feature all-new framing and sheetrock, new kitchens and bathrooms, as well as central heating and cooling for year-round comfort. The commercial interiors have been transformed with open layouts, each featuring an ADA-compliant bathroom and new HVAC systems. Restored original high ceilings and shop windows highlight the blend of historical character and contemporary style. With the potential for an increased rent roll upon renovating the other three units when they become available, 1076 Summit Avenue presents a rare chance for savvy investors to acquire a well-positioned asset with significant upside potential in a thriving market. Don’t miss this opportunity to capitalize on the revitalization of one of Jersey City’s most desirable neighborhoods. Located in a convenient area for commuters, close to the Hudson-Bergen Light Rail Elevator and numerous bus routes to NYC. One of the owners has a NJ RE License.