$679,000
Excellent 3-family investment opportunity in Paterson! Whether you're a seasoned investor looking to expand your portfolio or a first-time home buyer ready to become a landlord, this property offers a compelling combination of space and income potential. Featuring a total of 7 bedrooms and 3 full bathrooms across three separate… Read More units, the property currently generates over $5,800 in monthly rental income over $70,000 annually in gross rents. With separate utilities, the property is designed for more efficient management and reduced owner-paid expenses. Investors can take advantage of strong existing rental income, while owner-occupants may have the opportunity to live in one unit and use rental income from the others to help offset their monthly mortgage payment. This is a great opportunity to own a true income-producing multi-family property and start building long-term wealth through real estate. Don't miss your chance to add this 3-family property to your portfolio or make your first move into real estate investing! Read Less
Courtesy of REAL, BRAULIO CESPEDES, 862-203-0975
Listing Snapshot
Days Online
21
Last Updated
Property Type
Other
Beds
7
Square Ft.
3,200
Year Built
1939
MLS Number
4040538
30 Days Snapshot Of 07522
$600k
+31%
(avg) sold price
1
0%
home sold
351
+631%
(avg) days on market
Snapshot
Area Map
Additional Details
Basement
Partial, Unfinished, Yes
Building
Built in 1939, Renovated in 2024
Cooling
None
Expenses
Expenses: Cold Water, Insurance, See Remarks, Taxes
Exterior Features
Composition Shingle, Open Porch(es)
Garage
None, On-Street Parking
Water Features
Gas, Public Water
Heating
Gas-Natural, 2 Units, Baseboard - Electric, Baseboard - Hotwater, Radiators - Hot Water
Interior Features
Carbon Monoxide Detector, See Remarks, Smoke Detector, Vinyl-Linoleum Floors
Lot
Approximate Lot Size: REVOCATION DEED, Level Lot
Parking
None, On-Street Parking
Property
3,200 sqft building, 3 units, FHA Age Restricted: No
Roof
Asphalt Shingle
Sewer
Public Sewer
Taxes
Tax Rate: 4.476
Unit One
1 bathroom, 2 bathrooms, 1,100 sqft, Handicap Accessibility: No, Carbon Monoxide Detector, Range/Oven - Gas, Refrigerator, Smoke Detector
Unit Two
1 bathroom, 2 bathrooms, 1,100 sqft, Handicap Accessibility: No, Carbon Monoxide Detector, Range/Oven - Gas, Refrigerator, Smoke Detector
Unit Three
1 bathroom, 3 bathrooms, 1,000 sqft, Handicap Accessibility: No, Carbon Monoxide Detector, Range/Oven - Electric, Refrigerator, Smoke Detector
Utilities
Electric, Gas-Natural
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All information contained herein deemed reliable but not guaranteed. Buyers should personally verify all information. GSMLS Data provided via Home Junction, Inc.
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