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    153 Ellison St Paterson, NJ 07505

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    For Sale
    $2,500,000

    Nine-unit building with residential and commercial spaces in downtown Paterson.

    Property size:
    5,300 SF
    Lot size:
    0.12 Acres

    Property Features for 153 Ellison St

    General Information

    Standard status
    Active
    Size
    5,300 SF
    Lot size
    0.12 Acres

    Building Details

    Year built
    1900

    Source: NICHOLAS REAL ESTATE AGENCY Agent JUANA E. TORRES

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

    Overview

    Updated Mixed-Use Building in Paterson

    This nine-unit building is located in the heart of downtown Paterson. The property features a mix of residential and commercial spaces, comprising five residential apartments and four commercial units. The residential units include one three-bedroom apartment, two two-bedroom apartments, and two one-bedroom apartments, all described as spacious. The property has undergone several updates and has one vacant unit available for immediate rental. Most tenants are currently on month-to-month leases, offering flexibility for new ownership. This property is presented as a potential investment opportunity.
    Location Intelligence

    Current Use by Public Records

    Antojitos Salvadoreños y ... Central American Restaurant Banquerts Flowers Florist A Buck Or 2 Unique ... Discount Store

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Gym & Fitness Clothing Store Building Supply

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

    Location Insight

    • Map
    • Local Demand
    City
    Paterson
    County
    Passaic
    State
    New Jersey
    Longitude
    -74.1708506
    Latitude
    40.9174111

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      Paterson Mixed-Use Investment Opportunity

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      153-155 Ellison St, Paterson, NJ 07505
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    FAQs

    What type of property is this?
    Apartment building - Nine-unit building with residential and commercial spaces in downtown Paterson.
    Where is this apartment building located?
    The property is located at 153 Ellison St Paterson, NJ.
    What is the asking price?
    The asking price for this property is $2,500,000.
    What are key features of this property?
    This property features: - 9-unit building in downtown Paterson, featuring 5 residential and 4 commercial units.; - Recently obtained green card.; - One vacant unit is ready for immediate rental income.
    (973) 340-1202
    Request Owner's contact information
    153 Ellison St Paterson, NJ 07505
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    Paterson, NJ 07505
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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
    153 Ellison St Paterson, NJ 07505
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