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    355 Madison St Passaic, NJ 07055

    Picture of Apartment buildings at Madison St 355, Passaic, NJ
    Pending
    For Sale
    $1,150,000

    Commercial - Passaic City, NJ

    Property size:
    2,901 SF
    Lot size:
    0.07 Acres
    Days on Market:
    34
    Last Refresh:
    Dec 7 at 9:06 pm

    Property Features for 355 Madison St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Standard status
    Pending
    Zoning
    r3
    Rooms
    Basement
    Basement Y/N
    1
    Size
    2,901 SF
    Lot size
    0.07 Acres

    Utilities

    Heating system
    Baseboard, Hot Water (Heating)

    Building Details

    Year built
    1900
    Number of units
    6
    Building materials
    Vinyl Siding
    Roof type
    Flat
    Architectural style
    Other

    Real Broker LLC

    Listing agent ANDRES OSPINA (855) 450-0442

    Listing date Nov 4, 2025

    MLS# 3993612 Listing URL

    Copyright © 2025 Garden State MLS, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Turn-Key Multifamily Investment Opportunity

    Located in Passaic City, NJ, the property at 355 Madison Street is a 6-unit multifamily building. It is fully occupied by a mix of market and Section 8 tenants. The unit mix includes two 2-bed/1-bath layouts and four 3-bed/1-bath layouts. The building is well-maintained and has a valid Green Card. The property generates $110,717 in annual gross income. Landlord pays for water, and utility expenses are minimal. Operating costs are $23,617 annually, producing a $87,100 NOI. The five-year projection reflects NOI growth toward $95,000+. The 0.07-acre property is near schools, shopping, and NJ Transit. The property size is 2901 square feet.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Law Firm Realty agency Restaurant Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Gym & Fitness Food Market

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Passaic
    County
    Passaic
    State
    New Jersey
    Longitude
    -74.13339
    Latitude
    40.86143

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    FAQs

    What type of property is this?
    Apartment building - 6-unit multifamily property in Passaic City, NJ with strong upside.
    Where is this apartment building located?
    The property is located at 355 Madison St Passaic, NJ.
    What is the asking price?
    The asking price for this property is $1,150,000.
    What are key features of this property?
    This property features: - Turn-key 6-unit multifamily property, fully occupied with a mix of market and Section 8 tenants.; - Generates $110,717 in annual gross income with a **7.57% cap rate** at the asking price of $1,150,000.; - Low operating costs of $23,617 annually, resulting in a healthy $87,100 NOI.
    (855) 450-0442
    Request Owner's contact information
    355 Madison St Passaic, NJ 07055
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    Passaic, NJ 07055
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    355 Madison St Passaic, NJ 07055
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