Rare opportunity to acquire a well-maintained mixed-use property in the heart of Paterson.
This versatile asset features a spacious residential unit, a separate mechanic shop, a full basement with 9-foot ceilings ideal for storage, and an income-producing garage. Together, the property generates approximately $61,200 in gross annual income, offering strong cash flow and excellent investment potential.
Property Highlights:
Top floor: $1,900/mo (lease expires Feb 2026)
First floor: $2,000/mo (no lease – flexible terms)
Garage: $1,200/mo (steady tenant)
Projected 5.2% CAP rate with room for rental growth
Prime location near major highways, schools, parks, and public transportation
Separate utilities and low operating expenses
This property offers strong cash flow with immediate upside potential through rent adjustments or repositioning. Ideal for investors seeking stable income or owner-occupants looking to offset living costs with additional rental income.