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$ 1,400,000
Est. payment | /mo
3,792 SqFt
$ 1,400,000
Est. payment | /mo
3,792 SqFt
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 3,792 sqft
Price per Sqft $369
MLS Listing ID 3980553
Year Built 1900
Annual Tax Amount $8,509
Tax Year 2024
Lot Size 3,049 Sqft
Property Description
Fully occupied and recently updated, this 6-unit commercial apartment building delivers immediate cash flow with room for growth. Featuring five spacious 2-bedroom units and one 1-bedroom unit, plus six basement storage units for additional rental income, this property is designed for strong returns. Five of the six apartments have been renovated, attracting quality tenants and reducing maintenance costs. Located in the heart of Passaic with easy access to Route 21, Route 3, I-80, and NYC, the property sits in a high-demand rental market with minimal vacancy. Tenants enjoy proximity to major retailers like Home Depot, grocery stores, dining, public transportation, and essential services. With a current 6.7% cap rate and bonus income potential from storage rentals, opportunities like this are rare in today's market. Act quickly " this income-producing asset will move fast.
Location
State NJ
County Passaic
Zoning R-3
Rooms
Basement Bilco-Style Door
Interior
Heating Gas-Natural
Cooling No Cool
Equipment Appliances, Smoke Detector, Storage Area(s)
Heat Source Gas-Natural
Exterior
Exterior Feature Vinyl Siding
Utilities Available Electric, Gas In Street
Roof Type Flat
Building
Story 3
Sewer Public Sewer
Water Public Water
Others
Ownership Fee Simple
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Listed by PROMINENT PROPERTIES SIR