70 Passaic ST Active Save Request In-Person Tour Request Virtual Tour
Passaic,NJ 07055
Key Details
Property Type Commercial
Sub Type Office
Listing Status Active
Purchase Type For Sale
MLS Listing ID 24034623
Style Office
Annual Tax Amount $17,925
Property Description
Welcome to a well-maintained 6-unit multifamily building, an excellent investment opportunity in a prime location. Each of the two units on three floors features 2 bedrooms, 1 bathroom, a living room, and an eat-in kitchen. All units have separate utilities and natural gas heating for easy management. The basement includes a shared laundry room and a bonus studio apartment with a full bathroom and kitchen. This property currently generates $100,128 annually, offered at a 6% cap rate with rents below market value, presenting significant upside potential. Annual expenses are approximately $6,500 for insurance and $18,000 for property taxes. Tenants enjoy a backyard with a storage shed and easy access to highways and public transport. This multifamily property is a solid investment with great revenue growth potential!
Location
State NJ
County Passaic
Area Passaic
Building/Complex Name None
Interior
Heating Baseboard,Gas,Hot Water
Exterior
Utilities Available O/See Rmks
Waterfront Description None
Others
Ownership Private