Paterson, NJ 07501,331 Straight ST
Paterson, NJ 07501,331 Straight ST
Paterson, NJ 07501,331 Straight ST
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Listed by Sergio Limonta United Real Estate
$ 899,900
Est. payment | /mo

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$ 899,900
Est. payment | /mo
Save

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

New Jersey MLS (NJMLS)
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"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(862) 208-9478

jorgeaviles@prismregroup.com

457 Sylvan Ave, Englewood Cliffs, NJ, 07632, USA

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331 Straight ST