Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Spacious Updated Multifamily Property Title is generated by Realmo AI

    9 Courtland St, Paterson, NJ 07503

    View on Map
    Claim this Listing
    For Sale
    $799,900

    Updated multifamily property with a potential bonus unit.

    Type:Multi Family
    Added:
    May 21, 2026
    Days on Market:
    12
    Last Refresh:
    May 21 at 1:06 pm

    Property Features for 9 Courtland St

    General Information

    Standard status
    Active
    Property subtype
    Multi Family

    Building Details

    Year Built
    1900

    We can help!

    Listing Contact
    MONTAHA DEEB

    Listing agent MONTAHA DEEB

    Listing office

    Listing date May 21, 2026

    Source Elliman

    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 MONTAHA DEEB

    HighLights

    • Spacious 2‑family property with potential for a 3rd floor bonus unit.
    • Two updated units, each with 2 bedrooms, living room, dining room, eat‑in kitchen, and full bath.
    • Walk‑up 3rd floor with potential for 2 bedrooms, living room, kitchenette, and full bathroom.
    • Full basement with laundry facilities.
    • "Very Walkable" location (Walk Score of 82).
    • Ideal for large families or investors.

    Overview

    This updated multifamily property features two spacious units and a walk-up third-floor bonus unit. The first-floor unit includes two bedrooms, a living room, a dining room, an eat-in kitchen, and a full bath. The second-floor unit also has two bedrooms, a kitchen with an island, a living room, a dining room, and a full bath. The walk-up third floor offers a potential two bedrooms, a living room, a kitchenette area, and a full bathroom. Additionally, there is a full basement with laundry facilities and on-street parking. The property is suitable for a large family or an investor looking to expand their portfolio. The location has a walk score of 82, indicating it is very walkable, a transit score of 61, indicating good transit options, and a bike score of 52, indicating it is bikeable.
    Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Building Supply Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Paterson
    County
    Passaic
    State
    New Jersey
    Longitude
    -74.1674983
    Latitude
    40.9014411

    Nearby Similar for Sale

    • $1,950,000
      5,000 SF

      Versatile Commercial Building with Gated Lot

      5000 SF commercial building on 10,000 SF lot.
      72-78 Illinois Ave, Paterson City, NJ 07503-1724
      View Details
    • $850,000
      5,000 SF

      Corner Warehouse with Drive-In Dock

      Versatile warehouse with drive-in dock, office, and new sprinkler.
      246 Paterson Ave, Paterson City, NJ 07502-1739
      View Details
    • $679,000
      4,000 SF

      Spacious Multi-Family Home in Paterson

      Versatile multi-family home with income potential and flexible living.
      24 Elizabeth St, Paterson City, NJ 07503-2605
      View Details
    • $4,190,000
      40,000 SF

      Industrial Building in Paterson City

      40,000 SF industrial building with flexible occupancy options.
      41-43 Governor St, Paterson City, NJ 07501-1053
      View Details
    • $769,000
      3,600 SF

      Income Producing Mixed-Use Property

      Mixed-use property in high-traffic area with restaurant, barber shop, apartments.
      515-517 Park Ave, Paterson City, NJ 07504-1861
      View Details
    • $999,000
      4,744 SF

      Mixed-Use Building with Retail Space

      Five-unit building with retail and residential income potential.
      89 Market St, Paterson City, NJ 07505-1274
      View Details
    • $639,000
      3,168 SF

      Mixed-Use Property in Paterson City

      Mixed-use property with residential and commercial income potential.
      331 Market St, Paterson City, NJ 07501-2247
      View Details
    • $1,299,000
      4,008 SF

      Paterson City Multifamily Investment Opportunity

      High-yield, six-unit multifamily property near Times Square.
      106-108 N 8Th St, Paterson City, NJ 07522-3120
      View Details
    • $499,000
      4,368 SF

      Paterson City Commercial Building

      Two-story building with basement in high-traffic area.
      84 Ellison St, Paterson City, NJ 07505-1214
      View Details
    • $839,000
      3,692 SF

      Income-Producing 3-Family Home

      Eastside Paterson 3-family home with high ceilings and separate utilities.
      90 Park Ave, Paterson City, NJ 07501-2223
      View Details
    • $699,999
      2,964 SF

      Paterson City Multi-Family Investment

      Well-maintained 3-family property with strong income potential.
      86 Pennington St, Paterson City, NJ 07501-3138
      View Details
    • $525,000

      Renovated Mixed-Use Building with Bar

      Mixed-use building with bar and residential unit in Paterson.
      541 UNION AVE, Paterson, NJ 07522
      View Details

    FAQs

    What type of property is this?
    Triplex - Updated multifamily property with a potential bonus unit.
    Where is this triplex located?
    The property is located at 9 Courtland St Paterson, NJ.
    What is the asking price?
    The asking price for this property is $799,900.
    What are key features of this property?
    This property features: Spacious 2‑family property with potential for a 3rd floor bonus unit.; Two updated units, each with 2 bedrooms, living room, dining room, eat‑in kitchen, and full bath.; Walk‑up 3rd floor with potential for 2 bedrooms, living room, kitchenette, and full bathroom.
    We can help!
    Listing Contact
    MONTAHA DEEB
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    9 Courtland St, Paterson, NJ 07503-2919
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!