84 Madison St Active Save Request In-Person Tour Request Virtual Tour
Paterson City,NJ 07501
Key Details
Property Type Multi-Family, Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 3,600 sqft
Price per Sqft $208
MLS Listing ID 3907107
Style 3-Three Story
Bedrooms 16
Full Baths 3
Year Built 1930
Annual Tax Amount $16,567
Tax Year 2023
Lot Size 3,920 Sqft
Property Description
Huge three-family house, featuring 5 bedrooms on 1st and 2nd floors and 6 bedrooms on the 3rd floor, a living room, and a formal dining room. It is located by Downtown Paterson right off Route 19th, within walking distance to shopping centers. It has a driveway for approximately 5-6 cars, close to all major highways. In need of minor TLC. The basement has 2 storage rooms that can be also, rented for another $500 a month. This property is been sold "as is".Great investment. It is a money-making tool, producing over $7,0000 per month when fully rented(currently only the 2nd fl. is about to be vacant), and all apartments have separate utilities. Currently Passaic County Affordable Housing(Sec. 8) is paying up to $3200 for 5-bedroom apartments in the area, therefore your new rent roll will be $9600. The owner will cooperate with 3.5% seller concession if the offer is a full asking price.
Location
State NJ
County Passaic
Rooms
Basement Unfinished
Interior
Heating Gas-Natural
Cooling None
Heat Source Gas-Natural
Exterior
Exterior Feature Vinyl Siding
Utilities Available All Underground, Gas-Natural
Roof Type Composition Shingle, Flat
Building
Lot Description Flag Lot
Sewer Public Sewer
Water Public Water
Architectural Style 3-Three Story
Others
Senior Community No