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    131 Park Pl Passaic, NJ 07055

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    For Sale
    $705,000

    Three-unit property near downtown, ideal for investors or owner-occupants.

    Lot size:
    0.10 Acres

    Property Features for 131 Park Pl

    General Information

    Lot size
    0.10 Acres

    Building Details

    Year built
    1920

    Source: COLDWELL BANKER REALTY FLE Agent SHARIFA R DAMALLIE

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Well-Maintained Triplex Near Downtown Passaic

    This well-maintained three-family home is located near Downtown Passaic. The property is suitable for investors or owner-occupants, offering rental income potential and convenience. The first unit features 3 bedrooms and 1 full bathroom, providing bright living spaces and a functional layout. The second unit features 2 bedrooms and 1 full bathroom. The third unit offers 1 bedroom and 1 bathroom. A finished basement includes 2 bonus rooms, a full bathroom, and a kitchenette, offering possibilities for extra storage, recreation, or guest space. The home also includes a 4-car driveway and garage, providing off-street parking. Located minutes from public transportation, shopping, restaurants, schools, and houses of worship, this property combines comfort and convenience in one of Passaic's accessible neighborhoods. It can be delivered vacant and is being sold AS-IS.
    Location Intelligence

    Current Use by Public Records

    Triplexes

    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
    -74.1259022
    Latitude
    40.8573102

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    FAQs

    What type of property is this?
    Multifamily property - Three-unit property near downtown, ideal for investors or owner-occupants.
    Where is this multifamily property located?
    The property is located at 131 Park Pl Passaic, NJ.
    What is the asking price?
    The asking price for this property is $705,000.
    What are key features of this property?
    This property features: - Excellent rental income potential as a 3-family home, ideal for investors or owner-occupants.; - Finished basement with 2 bonus rooms, full bathroom, and kitchenette offers flexible space.; - Convenient location near Downtown Passaic, public transportation, shopping, restaurants, schools, and houses of worship.
    (201) 461-5000
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    131 Park Pl 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
    131 Park Pl Passaic, NJ 07055
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