70 Passaic Street, Passaic, NJ 07055
70 Passaic Street, Passaic, NJ 07055
70 Passaic Street, Passaic, NJ 07055
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Listed by Matthew Gevirtz • EXP Realty, LLC • (973) 250-9974
$999,900
Est. payment /mo
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70 Passaic Street Passaic, NJ 07055

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Isaac De Castro

Isaac De Castro

+1(646) 626-7901

UPDATED:

Key Details

Property Type Commercial

Sub Type Office

Listing Status Active

Purchase Type For Sale

MLS Listing ID 24034623

Style Office

Annual Tax Amount $17,925

Property Sub-Type Office

Property Description

Welcome to a well-maintained 6-unit multifamily building, an excellent investment opportunity in a prime location. Each of the two units on three floors features 2 bedrooms, 1 bathroom, a living room, and an eat-in kitchen. All units have separate utilities and natural gas heating for easy management. The basement includes a shared laundry room and a bonus studio apartment with a full bathroom and kitchen. This property currently generates $100,128 annually, offered at a 6% cap rate with rents below market value, presenting significant upside potential. Annual expenses are approximately $6,500 for insurance and $18,000 for property taxes. Tenants enjoy a backyard with a storage shed and easy access to highways and public transport. This multifamily property is a solid investment with great revenue growth potential!

Location

State NJ

County Passaic

Area Passaic

Interior

Heating Baseboard, Gas, Hot Water

Exterior

Utilities Available O/See Rmks

Waterfront Description None

Building

Architectural Style Condo

Others

Ownership Private

New Jersey (NJMLS Include SOLD)

NEARBY SCHOOL & BUSINESS

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Isaac De Castro

Isaac De Castro

Real Estate Advisor | 3561456; 1750974; 10401278264

+1(646) 626-7901

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