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    481 Preakness Ave Paterson, NJ 07502

    For Sale
    $795,000

    Multi-Family, 2-Two Story - Paterson City, NJ

    Lot size:
    0.18 Acres
    Days on Market:
    14
    Last Refresh:
    Dec 7 at 3:06 pm

    Property Features for 481 Preakness Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Basement, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5, Dining Room, Kitchen
    Bedrooms
    6
    Bathrooms
    2
    Parking
    3
    Interior features
    Carbon Monoxide Detector, Smoke Detector
    Basement Y/N
    1
    Appliances
    Oven - Gas, Range
    Lot size
    0.18 Acres

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air, Multi Units

    Building Details

    Year built
    1945
    Number of units
    2
    Building materials
    Vinyl Siding
    Roof type
    Composition, Shingle
    Architectural style
    Other

    Nicholas Real Estate (973) 725-3778 [email protected]

    Listing agent FRED SPOELSTRA (973) 340-1202

    Listing date Nov 24, 2025

    MLS# 3996116 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

    Renovated Two-Unit Property

    This is a two-unit multi-family property located in Paterson City, NJ. Each unit features three bedrooms, with bonus rooms in the basement for the first floor and an oversized room in the attic for the second floor. The property has been renovated with a new interior and modern appliances. The lot size is 0.18 acres and includes a large yard with room for a garden. The property is suitable for immediate occupancy or rental.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Paterson
    County
    Passaic
    State
    New Jersey
    Longitude
    -74.198474667319
    Latitude
    40.924761144705

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    FAQs

    What type of property is this?
    Duplex - Impeccably renovated two-unit property with modern appliances and large yard.
    Where is this duplex located?
    The property is located at 481 Preakness Ave Paterson, NJ.
    What is the asking price?
    The asking price for this property is $795,000.
    What are key features of this property?
    This property features: - Two-unit property, ideal for owner-occupancy or rental income.; - **Completely renovated interior with modern appliances.**; - Each unit has three bedrooms plus bonus rooms in the basement and attic.
    (973) 340-1202
    Request Owner's contact information
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    Paterson, NJ 07502
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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
    481 Preakness Ave Paterson, NJ 07502
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