About 70 Passaic St
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!
Features of 70 Passaic St
| MLS® # | 24034623 |
|---|---|
| Price | $999,900 |
| Type | Commercial Sale/Lease |
| Style | CONDO |
| Status | ACTIVE |
Community Information
| Address | 70 Passaic St |
|---|---|
| City | Passaic |
| County | PASSAIC |
| State | NJ |
| Zip Code | 07055 |
Amenities
| Utilities | O/SEE RMKS |
|---|---|
| Is Waterfront | Yes |
| Waterfront | NONE |
Interior
| Heating | BASEBOARD, GAS, HOT WATER |
|---|
Additional Information
| Date Listed | October 28th, 2024 |
|---|---|
| Foreclosure | No |
| RE / Bank Owned | No |
Listing Details
| Agent | Matthew Gevirtz |
|---|---|
| Office | EXP Realty, LLC |