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JORGE AVILES
Prominent Properties Sotheby's International Realty
jorgeaviles@prismregroup.com +1(862) 208-9478Listed by Sergio Limonta United Real Estate
$ 899,900
Est. payment | /mo
$ 899,900
Est. payment | /mo
Key Details
Property Type Commercial
Sub Type Office
Listing Status Active
Purchase Type For Sale
MLS Listing ID 25009707
Style Office
Property Sub-Type Office
Property Description
Welcome to this fully renovated rooming house, offering a prime investment with an 8.9% cap rate. Located near Downtown Paterson, shopping, restaurants, and public transit, this 13-unit building includes both residential and commercial spaces. It features seven rooms with 2 shared bathrooms, four rooms with their own private bathrooms, a 3-bedroom apartment, and a commercial unit, providing diverse income streams. Extensive renovations in 2020 include updated plumbing, electrical, heating, and bathrooms, attracting premium tenants and minimizing future costs. A live-in superintendent makes sure the building is clean, manages daily operations, ensuring tenant satisfaction and reducing overhead. With strong rental demand and easy access to transportation, this property offers both reliable cash flow and long-term appreciation which makes it a low-maintenance, high-yield investment. Private Financing potentially available.
Location
State NJ
County Passaic
Interior
Heating Gas
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