24 Franklin Place Summit, NJ 07901
Estimated payment $10,374/month
Highlights
- Deck
- Wood Flooring
- Thermal Windows
- L C Johnson Summit Middle School Rated A+
- High Ceiling
- Storm Windows
About This Home
Welcome to a sun-filled & well-maintained four-unit multifamily home w/ 4 vacant units, can possibly be converted to 5 units or converted to Condo! Zoned TH3, great potential, a front lawn & backyard, located in heart of Summit, short walk to Summit Train Station & Downtown. Ideal for owners/renters who commute to Manhattan, Wall Street, etc. The Summit schools are highly rated & among the Best. The 1st flr has 2 one-bedrm apartment units. Unit A has 1 bedroom, 1 bath, & 1 living room sun drenched by panoramic bay-window. The living room & bedroom are separated by a French door. These rooms are spacious. Apartment B has one bedroom, one living room, a bath & one large kitchen w/ large dining area. The entire 2nd floor is a newly remodeled 3 bedr00m unit w/ a huge living room, ideal for owner occupancy or rental. The spaciously remodeled kitchen, the new wood floors In living room & spacious 3 bedrooms add to the charm of this beautiful unit. The coffered ceiling adds to the beauty of this unit. 2 baths, 3 bedroom rental units are rare & valuable in Summit, commanding premium rents. On the 3rd floor is the remodeled 4th unit w/new HW floors. The bedrm is & living room is spacious. The new kitchen has new appliances. This building commands premium rents due to proximity to train station & downtown. The 8 parking spaces bring in additional income, commuters prefer to rent the assigned spaces. Possible conversion to 5 units & condo plans drawn up by architect. Great Potential!
Listing Agent
ARLENE GORMAN GONNELLA
WEICHERT REALTORS Brokerage Phone: 201-306-1357 Listed on: 03/26/2026
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $16,354
Year Built
- Built in 1898 | Remodeled
Lot Details
- 11,761 Sq Ft Lot
- Level Lot
Home Design
- Flat Roof Shape
- Asphalt Shingled Roof
- Aluminum Siding
Interior Spaces
- High Ceiling
- Thermal Windows
- Blinds
- Unfinished Basement
- Basement Fills Entire Space Under The House
Flooring
- Wood
- Carpet
- Tile
Bedrooms and Bathrooms
- 6 Bedrooms
- 5 Full Bathrooms
Home Security
- Storm Windows
- Carbon Monoxide Detectors
- Fire and Smoke Detector
Parking
- 8 Parking Spaces
- Assigned Parking
Outdoor Features
- Deck
Schools
- Lincoln-Hubbard Elementary School
- Summit Middle School
- Summit High School
Utilities
- Window Unit Cooling System
- Multiple Heating Units
- Radiator
- Hot Water Baseboard Heater
- Standard Electricity
- Gas Water Heater
Community Details
- 3,712 Sq Ft Building
Listing and Financial Details
- Assessor Parcel Number 2918-03401-0000-00017-0000-
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $15,934 | $365,800 | $150,400 | $215,400 |
| 2024 | $15,828 | $365,800 | $150,400 | $215,400 |
| 2023 | $15,828 | $365,800 | $150,400 | $215,400 |
| 2022 | $15,667 | $365,800 | $150,400 | $215,400 |
| 2021 | $15,792 | $365,800 | $150,400 | $215,400 |
| 2020 | $15,949 | $365,800 | $150,400 | $215,400 |
| 2019 | $15,967 | $365,800 | $150,400 | $215,400 |
| 2018 | $15,865 | $365,800 | $150,400 | $215,400 |
| 2017 | $15,967 | $365,800 | $150,400 | $215,400 |
| 2016 | $15,733 | $365,800 | $150,400 | $215,400 |
| 2015 | $15,426 | $365,800 | $150,400 | $215,400 |
| 2014 | $15,027 | $365,800 | $150,400 | $215,400 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 04/29/2026 04/29/26 | Price Changed | $1,688,000 | -3.4% | $455 / Sq Ft |
| 03/26/2026 03/26/26 | For Sale | $1,748,000 | -- | $471 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Deed | $935,000 | First American Title Insurance | |
| Quit Claim Deed | -- | None Available |
Source: Garden State MLS
MLS Number: 4017192
APN: 18-03401-0000-00017
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