$999,900
70 Passaic ST Passaic, NJ 07055
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Listed by Matthew Gevirtz • EXP Realty, LLC • (973) 250-9974
$999,900
Est. payment /mo
Active
70 Passaic ST Passaic, NJ 07055
UPDATED:
11/07/2024 02:07 PM
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
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