Well-Maintained 3-Unit
183 Walnut Street Paterson, NJ 07522
183 Walnut Street, Paterson, NJ, 07522
$615,000
For Sale
Under Contract
$615,000
MULTI_FAMILY - Paterson, NJ
Property Size2,425 SF
Lot Size0.06 Acres
Price / SF$253.61
Days on Market177
Property Features for 183 Walnut Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bathrooms
- 5
- Rooms
- Bathroom 1, Bathroom 4, Bathroom 2, Basement, Bathroom 3, Bathroom 5, Dining Room
- Patio and Porch features
- Patio
- Interior features
- Unit 1(3 Bedrooms, Kitchen, 1 Bath, Living Room, See Remarks), Unit 2(3 Bedrooms, Kitchen, 1 Bath, Living Room, See Remarks), Unit 3(2 Bedrooms, Kitchen, 1 Bath, Living Room), Unit 4(Dining Room, 2 Bedrooms, Kitchen, Living Room, See Remarks)
- Exterior features
- Barbecue, Patio
- Appliances
- Water Heater(See Remarks, Gas), Water Heater
- Standard status
- Active Under Contract
- APN
- 0801406000000019
- Size
- 2,425 SF
- Lot size
- 0.06 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 11454
Utilities
- Sewer type
- Public Sewer
- Heating system
- Radiant
- Cooling system
- Wall Unit(s), Window Unit(s)
- Water source
- Public
Building Details
- Year built
- 1950
- Floors in Building
- 3
- Building materials
- Vinyl Siding
- Additional Structures
- See Remarks
Listing agency
J.J. ELEK REALTY CO.
(732) 634-9100
Listed by
Felix Santana
(732) 596-2118
Added: Jan 26 Updated: Jul 7 at 3:31PM Checked: Jul 22 at 10:06AM
MLS# 2610097R
Copyright © 2026 All Jersey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This well-maintained three-family triplex includes two units with spacious 3BR/1BA layouts on the first and second floors, plus a third-floor 2BR/1BA unit. Each unit has separate utilities paid by tenants.
The property is located in Paterson, NJ, with access to public transportation, major highways, and nearby shopping and local amenities.
With a mix of 3-bedroom and 2-bedroom configurations, the building provides unit variety within a three-unit residential income setup.
The property is located in Paterson, NJ, with access to public transportation, major highways, and nearby shopping and local amenities.
With a mix of 3-bedroom and 2-bedroom configurations, the building provides unit variety within a three-unit residential income setup.
Key Highlights
- Well‑maintained 3‑family property with spacious unit layouts: two 3BR/1BA units plus one 2BR/1BA unit
- Each unit has separate utilities paid by tenants
- Radiant heating with wall/window AC units
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $62.0k | $25.56 |
| − Vacancy | −$4.0k | −$1.65 |
| EGI | $58.0k | $23.91 |
| − OpEx | −$17.4k | −$7.17 |
| NOI | $40.6k | $16.74 |
2,425 SF · lease $25.56/SF/yr · vacancy 6.46% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$579.8K
$507.3K – $676.4K
NOI $40,585 @ 7.0% cap · market cap 6.60%
Second Best
Apartment 5plus
$532.7K
$466.2K – $621.5K
NOI $37,292 @ 7.0% cap · market cap 6.06%
Theoretical Best
Office A
$633.2K
$554.1K – $738.8K
NOI $44,325 @ 7.0% cap · market cap 7.21%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - A well-maintained three-family property offering separate utilities for each tenant and spacious unit layouts.
Where is this triplex located?
The property is located at 183 Walnut Street Paterson, NJ.
What is the asking price?
The asking price for this property is $615,000.
What are key features of this property?
This property features: Well‑maintained 3‑family property with spacious unit layouts: two 3BR/1BA units plus one 2BR/1BA unit; Each unit has separate utilities paid by tenants; Radiant heating with wall/window AC units
