70 Passaic Street
$999,900
12
6
—
—
—
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...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 8% 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.
- Listed by MATTHEW GEVIRTZ • EXP REALTY, LLC
- Listed by NICOLA TRANI • EXP REALTY, LLC
Property Details for 70 Passaic Street
Directions
Head southeast on Main Ave, turn right on Monroe St, left on Passaic St to #70.
Days On Market1
LISTING UPDATED: 10/28/2024 12:43 PM
Property Details for 70 Passaic Street
Status | Active |
---|---|
MLS # | 3931518 |
Days on Market | 4 |
Taxes | $17,925 / year |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Multi Family / 3-Three Story |
Year Built | - |
Lot Size | 0.06 AC / 2,613 SF |
County | Passaic County |
Building Information for 70 Passaic Street
Stories-Residences4Year Built-Building Size-Lot Size0.06 AC / 2,613 SF
Property Information for 70 Passaic Street
Property History for 70 Passaic Street
Date | Event & Source | Price | Appreciation |
---|
Date | Event & Source | Price |
---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 70 Passaic Street
Taxable ValueLand$49,900Additions$397,800Total$447,700
Tax Record2023$17,926 ($1,494 / month)
Home Facts
Stories3Lot Size2,500 SqFtStyleMulti-Family Res (5+ Units)ZoningR-3CountyPASSAICAPN07 01019-0000-00005
Schools near 70 Passaic Street
This home is within Passaic City Public School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 6 | |||
Public - | K to 8 | |||
Public - | 9 to 12 | |||
Public - | K to 1 |
Rating | School | Distance |
---|---|---|
Number 8, Pulaski Elementary School PublicK to 6 | ||
School No. 5 PublicK to 8 | ||
Passaic High School Public9 to 12 | ||
George Washington School No. 2 PublicK to 1 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
Similar Homes
Sorry, we can't find any similar homes at this time. Please check back later.
Similar Sold Homes
Sorry, we can't find any similar sold homes at this time. Please check back later.