6-Unit Apartment
106-108 N 8th St, Paterson, NJ 07522
For Sale
$1,050,000
Two-story residential property with consistent unit layouts, updated interiors in select apartments, and off-street parking.
Property Size4,008 SF
Price / SF$261.98
Days on Market231
Property Features for 106-108 N 8th St
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Net Operating Income
Units
Unit Mix
Multifamily Units
Amenities
advanced 22-camera security system
Building Details
Building Size
Year Built
Buildings
Stories
Units
Listing Agency:
Corey J Schneider
(973) 472-3909
Listed By:
Geo Kumetz
(908) 842-0010
Source:
Arcadiarealtors
Added: Mar 24
Changed: Nov 4
Last Checked: Nov 8 at 4:37AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Corey J Schneider
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Investment Insights
Based on property information with market context.
This 4,008-square-foot, two-story apartment building at 106-108 N 8th St in Paterson contains six residential units, each with two bedrooms and one bathroom. Three apartments have been renovated. The property was built in 1954 and is zoned for multifamily use.
A shared driveway provides access to approximately 5 private off-street parking spaces. The building also has a 22-camera security system. Its six-unit configuration and uniform apartment mix are complemented by the renovated interiors and on-site parking.
A shared driveway provides access to approximately 5 private off-street parking spaces. The building also has a 22-camera security system. Its six-unit configuration and uniform apartment mix are complemented by the renovated interiors and on-site parking.
Key Highlights
- Six apartments, each configured with 2 bedrooms and 1 bathroom
- 4,008 square feet across two stories
- Three units have been renovated
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$61,635
Cap Rate
5.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,232,700
$1.2M
Cap Rate 7%
$880,500
$880.5K
Cap Rate 9%
$684,833
$684.8K
Market Conditions
NOI Build-Up for 4,008 SF
Gross rent
$120.2K $30.00/SF
− Vacancy
−$8.2K −$2.04/SF
EGI
$112.1K $27.96/SF
− OpEx
−$50.4K −$12.58/SF
NOI
$61.6K $15.38/SF
Area
Paterson, NJ
Vacancy
6.80%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,232,700
Cap Rate 7%
$880,500
Cap Rate 9%
$684,833
Alternative Uses
Best Use
Apartment 5plus
$880.5K
$770.4K – $1.03M
NOI $61,635 @ 7.0% cap · market cap 5.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.05M
$915.8K – $1.22M
NOI $73,260 @ 7.0% cap · market cap 6.98%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
1,444
Businesses Nearby
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Business Placement
Demographics for 07522, NJ
23,345
Population
7,440
Households
3.1
Avg Household Size
31
Median Age
10%
College-Educated
77%
High-School Grad
0.9 sq mi
ZIP Area
25,939
Density / Sq Mi
$48,002
Median Household Income
$31,997
Median Earnings
$1,458
Median Rent
$264,000
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Paterson, NJ
Properties on Market for Apartment buildings in Paterson
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Two-story residential property with consistent unit layouts, updated interiors in select apartments, and off-street parking.
Where is this apartment building located?
The property is located at 106-108 N 8th St Paterson, NJ.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Six apartments, each configured with 2 bedrooms and 1 bathroom; 4,008 square feet across two stories; Three units have been renovated
