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    217-221 Park Ave Paterson, NJ 07501

    For Sale
    $799,000

    Five-unit property with parking and outdoor space in Paterson, NJ.

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

    Overview

    Five-Unit Residential Investment Property

    This property features five units, comprising two 2-bedroom, 1-bath units and three 1-bedroom, 1-bath units. The building includes a terrace and a large backyard. Parking is available with spaces for six cars, along with a 1-car garage. This property is located in Paterson, NJ.
    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 Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Paterson
    County
    Passaic
    State
    New Jersey
    Longitude
    -74.1569484
    Latitude
    40.9151946

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    FAQs

    What type of property is this?
    Apartment building - Five-unit property with parking and outdoor space in Paterson, NJ.
    Where is this apartment building located?
    The property is located at 217-221 Park Ave Paterson, NJ.
    What is the asking price?
    The asking price for this property is $799,000.
    What are key features of this property?
    This property features: - Five-unit building: Ideal for investment purposes.; - Includes two 2-bed/1-bath units.; - Includes three 1-bed/1-bath units.
    Request Owner's contact information
    217-221 Park Ave Paterson, NJ 07501
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    Paterson, NJ 07501
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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
    217-221 Park Ave Paterson, NJ 07501
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