70 Passaic ST, Passaic, NJ 07055
70 Passaic ST, Passaic, NJ 07055
70 Passaic ST, Passaic, NJ 07055
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$999,900
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70 Passaic ST Passaic, NJ 07055

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Jonathan Greene

Jonathan Greene

+1(973) 873-0734

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

Others

Ownership Private

New Jersey (NJMLS-RETS)
Listed by EXP Realty, LLC

NEARBY SCHOOL & BUSINESS

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Jonathan Greene

Jonathan Greene

Broker of Record | License ID: 1433604

+1(973) 873-0734

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