70 Passaic St

Passaic, New Jersey 07055

  • 12 Bed(s)
  • 6 Bath(s)
  • 0 Sqft
  • 0.06
    Acre(Lot)
$1,199,900

Description

Welcome to this well-maintained 6-unit multifamily building, an outstanding investment opportunity in a prime location. the property features two units on each of the three floors, with each unit offering 2 bedrooms, 1 bathroom, a living room, and an eat-in kitchen. all units have separate utilities and natural gas heating, making management straightforward. the basement adds value with a shared laundry room and a bonus studio apartment complete with a full bathroom and kitchen.this property is currently generating a total annual rental income of $100,128 and is being offered at a 6% cap rate, with rents currently below market value, providing an excellent opportunity for increased revenue. the rent roll includes: apt 1 - $1,313, apt 2 - $1,570, apt 3 - $1,450, apt 4 - $1,241, apt 5 - $1,493, apt 6 - $1,277. annual expenses include approximately $6,500 for insurance and $18,000 for property taxes.tenants can also enjoy the backyard, which features a storage shed and a small outdoor space. the building is located in a no-flood zone and offers easy access to major highways and public transportation, making it an attractive option for tenants. this multifamily property is a solid investment with great upside potential.

  • Property Type

    Multi Family

  • County

    Passaic

  • Style

    3-Three Story

  • AD ID

    46936142

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BuyOwner last updated this listing 11/21/2024 @ 17:48

  • MLS: 3924303
  • LISTING PROVIDED COURTESY OF: ,
  • SOURCE: Garden State MLS - New Jersey

is a Multifamily, with 12 bedrooms which is for sale, it has 0 sqft, 0 sized lot, and 0 parking. A comparable Multifamily, has bedrooms and baths, it was built in and is located at and for sale by its owner at . This home is located in the city of Passaic , in zip code 07055, this Passaic County Multifamily and are nearby neighborhoods.