Description
Huge three-family house, featuring 5 bedrooms on 1st and 2nd floors and 6 bedrooms on the 3rd floor, a living room, and a formal dining room. It is located by Downtown Paterson right off Route 19th, within walking distance to shopping centers. It has a driveway for approximately 5-6 cars, close to all major highways. In need of minor TLC. The basement has 2 storage rooms that can be also, rented for another $500 a month. This property is been sold "as is".Great investment. It is a money-making tool, producing over $7,0000 per month when fully rented(currently only the 2nd fl. vacant), and all apartments have separate utilities. Currently Passaic County Affordable Housing(Sec. 8) is paying up to $3200 for 5-bedroom apartments in the area, therefore your new rent roll will be $9600. The owner will cooperate with 3.5% seller concession if the offer is a full asking price.
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16BEDS
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0.09ACRES
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3BATHS
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01/2 BATHS
School Ratings & Info
Description
Huge three-family house, featuring 5 bedrooms on 1st and 2nd floors and 6 bedrooms on the 3rd floor, a living room, and a formal dining room. It is located by Downtown Paterson right off Route 19th, within walking distance to shopping centers. It has a driveway for approximately 5-6 cars, close to all major highways. In need of minor TLC. The basement has 2 storage rooms that can be also, rented for another $500 a month. This property is been sold "as is".Great investment. It is a money-making tool, producing over $7,0000 per month when fully rented(currently only the 2nd fl. vacant), and all apartments have separate utilities. Currently Passaic County Affordable Housing(Sec. 8) is paying up to $3200 for 5-bedroom apartments in the area, therefore your new rent roll will be $9600. The owner will cooperate with 3.5% seller concession if the offer is a full asking price.
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Data last updated 2025-01-17T15:46:39.037.