Active

70 Street

Passaic NJ, 07055

$1,199,900


Active

Commercial

Listed by Matthew Gevirtz with EXP Realty, LLC 9732509974

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!

24032881

MLS ID

September 16, 2024

Listed

October 11, 2024

Updated

Map

70 Street
Passaic NJ, 07055

Interior Features

Fireplace

No


Cooling

No


Heating

Yes


Heating Description

Baseboard, Hot Water, Natural Gas

Exterior/Building Features

Architectual Style

Office

Other Property Details

Taxes

$17,925


Tax Frequency

Annually


Garage

No


View

No


County

PASSAIC


Pool

No

The data relating to the real estate for sale on this web site comes in part from the Internet Data Exchange Program of the NJMLS.  Real estate listings held by brokerage firms other than Coldwell BankerRealty are marked with the Internet Data Exchange logo and information about them includes the name of the listing brokers.  Some properties listed with the participating brokers do not appear on this website at the request of the seller.  Listings of brokers that do not participate in Internet Data Exchange do not appear on this website.

All information deemed reliable but not guaranteed.  Last date updated:  10/11/2024 

Source:  New Jersey Multiple Listing Service, Inc.

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