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$ 1,400,000
Est. payment | /mo
$ 1,400,000
Est. payment | /mo
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 4003256
Year Built 2021
Annual Tax Amount $16,227
Tax Year 2025
Property Description
Incredible investment opportunity in Paterson! This fully occupied 6-family property features six spacious units, each offering 3 bedrooms and 2 bathrooms - ideal for steady rental income and tenant retention. Additionally, the fully finished basement includes two bonus units: a 2-bedroom/1-bath and a 3-bedroom/1-bath, adding valuable rental potential. Currently generating $13,250/month in rental income, with below-market rents and room for strategic updates, this property offers strong value-add upside. The building sits on a 50 x 100 lot and includes a private driveway with four dedicated parking spaces - a key amenity in this area. The structure is well maintained with updated mechanicals, offering peace of mind and reduced long-term maintenance costs. Annual taxes: $16,227.58. Buyers are encouraged to verify zoning with the city regarding the basement units, which could unlock even greater income. Prime location near transit, schools, and amenities.
Location
State NJ
County Passaic
Zoning R2
Rooms
Basement Finished
Interior
Heating Electric, Gas-Natural
Cooling 4+ Units, Geothermal
Flooring Wood
Equipment Appliances, Smoke Detector
Heat Source Electric, Gas-Natural
Exterior
Exterior Feature Concrete, Vinyl Siding
Garage Spaces 6.0
Utilities Available Gas In Street
Roof Type Flat, Rubberized
Building
Story 3
Sewer Public Sewer
Water Public Water
Others
Ownership Fee Simple
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Listed by REALTY OF AMERICA
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