Turnkey Licensed Rooming
For Sale
$1,250,000
97 Jefferson St, Passaic, NJ 07055
Fully renovated, NJDCA-licensed rooming house with 18 rooms, shared bathrooms, and kitchenette setups across three floors.
Property SizeContact for details
Days on Market50
Property Features for 97 Jefferson St
General Information
Standard status
Active
Property subtype
Commercial
Additional Details
Business Included
Yes
Multifamily Units
18
Taxes and HOA fees
Annual Taxes
$18,096
Building Details
Year Built
1930
Year Renovated
2019
Stories
3
Units
18
Listing Agency:
Corey J Schneider
(973) 472-3909
Listed By:
RIGOBERTO SANCHEZ
Source:
Elliman
Added: Jun 23
Changed: Aug 8
Last Checked: Aug 10 at 6:48AM
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
Investment Insights
Based on property information with market context.
This turnkey rooming house offers 18 total rooms arranged across three living levels, including five rooms on the first floor, five rooms on the second floor, and eight rooms on the third floor. Each floor includes a shared bathroom and an in-unit kitchenette area with a sink, countertop, and microwave. The property was stabilized during a comprehensive 2019 renovation that included new heating, electrical, and plumbing systems, plus a new roof, windows, siding, flooring, and structural stairs. A full, unfinished basement contains the upgraded utilities and provides maintenance and storage space.
Located at 97 Jefferson St in Passaic, NJ, the building sits in an area with a walk score of 74 and a bike score of 46, with transit scoring 44. The asset is described as fully licensed by the New Jersey Department of Community Affairs (NJDCA), supporting an operator’s ability to run the property under an established regulatory framework.
For investors or operators seeking a stabilized, code-compliant multifamily income asset, this offering provides a modernized infrastructure base with the primary renovation work already completed. With each floor configured for rooming use and utility systems updated, the next owner can focus on day-to-day operations and tenant onboarding within the licensed rooming house model.
Located at 97 Jefferson St in Passaic, NJ, the building sits in an area with a walk score of 74 and a bike score of 46, with transit scoring 44. The asset is described as fully licensed by the New Jersey Department of Community Affairs (NJDCA), supporting an operator’s ability to run the property under an established regulatory framework.
For investors or operators seeking a stabilized, code-compliant multifamily income asset, this offering provides a modernized infrastructure base with the primary renovation work already completed. With each floor configured for rooming use and utility systems updated, the next owner can focus on day-to-day operations and tenant onboarding within the licensed rooming house model.
Key Highlights
- 18‑room, fully renovated rooming house built in 1930 and licensed by the NJ Department of Community Affairs (NJDCA)
- Top‑to‑bottom $500,000+ renovation in 2019 included all‑new heating, electrical, and plumbing, plus a new roof, windows, siding, flooring, and structural stairs
- Three living levels with 5 rooms on the first floor, 5 rooms on the second floor, and 8 rooms on the third floor
Property Analytics
Property Profile
Current Use
Lease Details
18
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
3,438
Businesses Nearby
Explore this area
Business Placement
Demographics for 07055, NJ
70,518
Population
21,019
Households
3.4
Avg Household Size
32
Median Age
17%
College-Educated
67%
High-School Grad
3.1 sq mi
ZIP Area
22,748
Density / Sq Mi
$56,780
Median Household Income
$30,935
Median Earnings
$1,392
Median Rent
$406,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully renovated, NJDCA-licensed rooming house with 18 rooms, shared bathrooms, and kitchenette setups across three floors.
Where is this apartment building located?
The property is located at 97 Jefferson St Passaic, NJ.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 18‑room, fully renovated rooming house built in 1930 and licensed by the NJ Department of Community Affairs (NJDCA); Top‑to‑bottom $500,000+ renovation in 2019 included all‑new heating, electrical, and plumbing, plus a new roof, windows, siding, flooring, and structural stairs; Three living levels with 5 rooms on the first floor, 5 rooms on the second floor, and 8 rooms on the third floor
