Commercial space For Sale in Passaic, NJ
MLS# : 24034623
PROPERTY DETAILS
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!
Amenities
This listing is a courtesy of EXP Realty, LLC
(866) 201-6210 office, listing agent Matthew Gevirtz
MADISON ADAMSTM
Ridgewood, NJ 07450
201-760-1100 (office)
201-760-1102 (fax)
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All information deemed reliable but not guaranteed. Last date updated: 11/22/2024 00:05 AM
Source: New Jersey Multiple Listing Service, Inc.
“©2024 New Jersey Multiple Listing Service, Inc. All rights reserved.”
General Tax Rate is used to determine the amount of real estate tax levied upon a particular property. This rate is used to compute the tax bill.
Effective Tax Rate is used to compare of one district to another district based on the assumption that all districts are at 100% valuation. This rate has been computed by the State of New Jersey Department of the Treasury using County Equalization Average Ratios. This rate is NOT to be used to compute the tax bill.
Data Source: US Census 2010, NJ MLS, State of New Jersey Department of the Treasury
