405-407 10th Ave - Apartments FOR SALE


Paterson, NJ 07514- Riverside | 
$2,100,000 USD
973-747-9718
405-407 10th Ave, Paterson, NJ for Sale
$2,100,000 USD
Apartments - FOR SALE
1/2
null | 6.79% Cap Rate

405-407 10th Ave
Paterson, NJ 07514
Riverside


HIGHLIGHTS

  • Valid DCA State Inspection & Paterson Fire Certificates valid through November of 2031.
  • Significant Rental Upside with nearly 20% upside in residential rents.
  • Separated Heating System with tenants being responsible for heating their units.
  • Low Maintenance Property in solid condition with very little deferred maintenance.
  • Access to Mass Transit & Highways with quick walk to the nearest bus station.

OVERVIEW

405-407 10th Avenue consists of six (6) 2BR / 1BA units, six (6) 1BR / 1 BA units, and one (1) basement level 3 BR / 1 BA unit. The deal offers investors significant growth potential with rents 20% below market value. Landlord Responsibilities include paying for hot & cold water. Tenants are responsible for heat, cooking gas, & electricity. The property is 0.2 miles to the closest bus station and a short drive to Routes 20 and 80. 405-407 10th Ave us a unique opportunity to own a low maintenance, separate utility building with significant rental upside.

FOR SALE DETAILS

PRICE

$2,100,000 USD

PRICE/SF

$171 USD /SF

# OF UNITS

13

PRICE/UNIT

$161,538

CAP RATE

6.79%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1965

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.12 AC

LAND SF

5,249 SF

ZONING

B-2

APN/PARCEL ID

08-03307-0000-00025

ASK ABOUT THIS PROPERTY

Casey EganRIPCO Real EstateMore Info
973-747-9718

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Casey EganRIPCO Real EstateMore Info
973-747-9718

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.