3-Unit Triplex with Finished
163 Fair St 3, Paterson, NJ 07501
For Sale
$874,999
Separate gas and electric meters serve each apartment, with all three units currently tenant-occupied.
Property Size2,550 SF
Price / SF$343.14
Days on Market147
Property Features for 163 Fair St 3
General Information
Standard status
Size
Property subtype
Occupancy
Site & Location
Public Transit
Utilities to Site
Units
Unit Mix
Multifamily Units
Individually Metered Utilities
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Stories
Tenancy
Listing Agency:
COLDWELL BANKER REALTY
Listed By:
RICARDO HARRISON
(201) 445-9400
Source:
Tkregroupinc
Added: Jun 20
Changed: Nov 12
Last Checked: Nov 13 at 3:05PM
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 COLDWELL BANKER REALTY
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Investment Insights
Based on property information with market context.
This three-family property has a finished basement and three apartments arranged across the first, second, and third floors. The first- and second-floor residences each contain 3 bedrooms; the third-floor unit has 4 bedrooms. All three apartments are tenant-occupied, and each has separate gas and electric metering.
The property is at 163 Fair Street in Paterson, near shops, restaurants, schools, parks, and public transportation.
The property is at 163 Fair Street in Paterson, near shops, restaurants, schools, parks, and public transportation.
Key Highlights
- Three apartments: two 3‑bedroom units and one 4‑bedroom unit
- Finished basement
- All three units are tenant‑occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,677
Cap Rate
4.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$853,540
$853.5K
Cap Rate 7%
$609,671
$609.7K
Cap Rate 9%
$474,189
$474.2K
Market Conditions
NOI Build-Up for 2,550 SF
Gross rent
$65.2K $25.56/SF
− Vacancy
−$4.2K −$1.65/SF
EGI
$61.0K $23.91/SF
− OpEx
−$18.3K −$7.17/SF
NOI
$42.7K $16.74/SF
Area
Paterson, NJ
Vacancy
6.46%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$853,540
Cap Rate 7%
$609,671
Cap Rate 9%
$474,189
Alternative Uses
Best Use
Multifamily LT 5
$609.7K
$533.5K – $711.3K
NOI $42,677 @ 7.0% cap · market cap 4.88%
Second Best
Apartment 5plus
$560.2K
$490.2K – $653.6K
NOI $39,214 @ 7.0% cap · market cap 4.48%
Theoretical Best
Office A
$665.9K
$582.6K – $776.8K
NOI $46,610 @ 7.0% cap · market cap 5.33%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
3,566
Businesses Nearby
Explore this area
Business Placement
Demographics for 07501, NJ
37,918
Population
13,119
Households
2.9
Avg Household Size
33
Median Age
9%
College-Educated
71%
High-School Grad
1.8 sq mi
ZIP Area
21,066
Density / Sq Mi
$40,699
Median Household Income
$32,103
Median Earnings
$1,442
Median Rent
$304,400
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in Paterson, NJ
Properties on Market for Triplexes in Paterson
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Separate gas and electric meters serve each apartment, with all three units currently tenant-occupied.
Where is this triplex located?
The property is located at 163 Fair St 3 Paterson, NJ.
What is the asking price?
The asking price for this property is $874,999.
What are key features of this property?
This property features: Three apartments: two 3‑bedroom units and one 4‑bedroom unit; Finished basement; All three units are tenant‑occupied
