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$539,000 -$20,000 (-3.58%) Price Reduced

  • For Sale
  • Active
  • Multi-Family
  • 6 Total Beds
  • Updated 3 hours ago
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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.

Full Property Details for 562 Summer St

General

  • Price: $539,000
  • Taxes: $7,207 (2025)
  • Status: Active
  • Type: Multi-Family
  • Source: Garden_State
  • MLS ID: 4041187
  • Updated: 8/5/2026
  • Added to Site: 20 day(s) ago

Interior

  • Number of Rooms: 12
  • Interior Features: Carbon Monoxide Detector, Fire Extinguisher

Rooms

Bathrooms

  • Total Bathrooms: 3
  • Full Bathrooms: 3

Bedrooms

  • Total Bedrooms: 6

Parking

  • Garage Description: On-Street Parking

Location

  • County: Passaic
  • Driving Directions: 20th Ave to Summer St

Heating & Cooling

  • Cooling Type: Window A/C(s)
  • Heating Type: 3 Units
  • Heating Fuel: Electric, Natural Gas

Utilities

  • Sewer: Public Sewer
  • Water: Public Water
  • Utility Description: Electric, Gas In Street

Structural Information

  • Architectural Style: 3-Three Story
  • Exterior Const.: Aluminum Siding
  • Basement: Yes
  • Basement Desc.: Unfinished
  • Roof: Asphalt Shingles
  • Year Built: 1700
  • Remodeled/Updated: 2020

Unit Information

Unit 1

  • Unit Description: Bedrooms, Kitchen, Living Room, See Remarks
  • Levels/Stories: 1
  • Total Bathrooms: 1
  • Bedrooms: 2

Unit 2

  • Unit Description: Bedrooms, Kitchen, Living Room, See Remarks
  • Levels/Stories: 2
  • Total Bathrooms: 1
  • Bedrooms: 2

Unit 3

  • Unit Description: Bedrooms, Kitchen, Living Room, See Remarks
  • Levels/Stories: 3
  • Total Bathrooms: 1
  • Bedrooms: 2

Lot Features

  • Lot Size (Acres): 0.06
  • Lot Dimensions: 25 x 100
  • Driveway/Sidewalk: On-Street Parking

Financial Considerations

  • Assessment Amount: $343,400
  • Land Assmt: $86,000
  • Tax Amount: $7,207
  • Tax Year: 2025

Disclosures and Reports

  • Disclosures: Yes
  • Block: 6301
  • Lot Number: 25

Listed by Exp Realty, Llc

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Listing agent

— 562 Summer St —

  • Exp Realty, Llc

866-201-6210

Get Pre-Approved Today

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Schools serving 562 Summer St

School District:Paterson City School District
Disclaimer: School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 562 Summer St Get Price Alerts and Save Property

Date
Details
Price
Change
Source
8/05/2026
Price Reduced
$539,000
-3.58%
MLS
7/16/2026
Listed
$559,000
—
MLS
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 562 Summer St

Year
Property Taxes
Change
Tax Assessment
Change
2025
$7,208
—
$429,400
218%
2025
$7,208
15%
$135,100
—
2022
$6,271
4%
$135,100
—
2021
$6,047
7%
$135,100
4%
2018
$5,637
3%
$130,300
-1%
2019
$5,465
2%
$132,200
2%
2017
$5,375
-9%
$129,200
-5%
2016
$5,923
6%
$136,500
—
2015
$5,607
-29%
$136,500
-53%
2013
$7,941
—
$289,400
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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*These costs are estimates, and the interest rates assume exceptional credit standing.

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

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Listed by Exp Realty, Llc

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562 Summer St, Paterson, NJ 07501 (MLS# 4041187) is a Multi-Family property with 3 units containing 6 bedrooms and 3 full bathrooms. 562 Summer St is currently listed for $539,000 and was received on July 16, 2026. Want to learn more about 562 Summer St? Do you have questions about finding other Multi-Family real estate for sale in Paterson? You can browse all Paterson real estate or contact a Coldwell Banker agent to request more information.

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