Listing Agency: Lim Bances Realty l**@bancesgroup.com Show Phone

Listed By: LIM BANCES · License #1643967

Source: Elliman

Added: Nov 27, 2025 Changed: Aug 8 Last Checked: Jul 16 at 9:51AM

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Investment Insights

Based on property information with market context.

This multifamily property is situated in a desirable area of Paterson, with convenient access to mass transit, schools, a shopping center, dining options, and a hospital. The first unit features 2 bedrooms and 1 bathroom, while the second unit offers 3 bedrooms and 1 bathroom. This property presents a significant opportunity.

Key Highlights

• Located in a desirable area of Paterson
• Close proximity to mass transit
• Multi‑family property with income potential

Property Analytics

Property Profile

Current Use

Multifamily properties

Suggested Use

Top Pick Real Estate Agency Nursing Home Tanning Salon (Bike/Boat/Book/etc) Store Locksmith Pet Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

951

Businesses Nearby

Explore this area Business Placement

Demographics for 07501, NJ

37,918

Population

13,119

Households

2.9

Avg Household Size

33

Median Age

9%

College-Educated

71%

High-School Grad

1.8 sq mi

ZIP Area

21,066

Density / Sq Mi

$40,699

Median Household Income

$32,103

Median Earnings

$1,442

Median Rent

$304,400

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this multifamily properties located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Multifamily property - Multifamily property near transit, schools, shopping, dining, and hospital.

Where is this multifamily property located?

The property is located at 98 Murray Ave Paterson, NJ.

What is the asking price?

The asking price for this property is $315,000.

What are key features of this property?

This property features: Located in a desirable area of Paterson; Close proximity to mass transit; Multi‑family property with income potential