Workforce Apartment Housing
For Sale
Contact for pricing
2 Chadwick St, Paterson, NJ 07503
Portfolio includes 33 apartments across three buildings with a mix of one-, two-, and three-bedroom units.
Property SizeContact for details
Days on Market121
Property Features for 2 Chadwick St
General Information
Standard status
Active
Property subtype
Multifamily
Additional Details
Highway Access
Yes
Multifamily Units
33
Listing Agency:
Providence Real Estate Advisors
Listed By:
Daniel Aviles · License #NJ 1431064
Source:
Crexi
Added: Apr 12
Changed: Aug 8
Last Checked: Jul 21 at 5:51PM
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 Providence Real Estate Advisors
Investment Insights
Based on property information with market context.
Marcus & Millichap has been selected to exclusively market for sale a workforce housing portfolio in Paterson, NJ, located at 2–8 Chadwick St, 11–13 Washington St, and 496–500 E 23rd St. The portfolio consists of 4 one-bedroom, 22 two-bedroom, and 7 three-bedroom apartments, providing a diversified mix of unit sizes for residential income.
The properties are described as being in desirable areas, with Chadwick and Washington Streets located blocks from St. Joseph University Medical Center, identified as the city’s largest employer. Tenant access is provided to Routes 18, 80, and 21 for quick regional connectivity.
The offering highlights strong cash flow, with stated upside tied to modest renovations upon vacancy and rent increases to reflect current market conditions. Current Paterson rent control laws are noted to allow for 5% annual increases.
The properties are described as being in desirable areas, with Chadwick and Washington Streets located blocks from St. Joseph University Medical Center, identified as the city’s largest employer. Tenant access is provided to Routes 18, 80, and 21 for quick regional connectivity.
The offering highlights strong cash flow, with stated upside tied to modest renovations upon vacancy and rent increases to reflect current market conditions. Current Paterson rent control laws are noted to allow for 5% annual increases.
Key Highlights
- Workforce housing portfolio in Paterson, NJ across 3 addresses: 2‑8 Chadwick, 11‑13 Washington, and 496‑500 E 23rd St.
- 33 apartments total: 4 one‑bedroom, 22 two‑bedroom, and 7 three‑bedroom units.
- Rents are below average with stated upside as rents are below average in a rising rental market.
Property Analytics
Current Use
Lease Details
33
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,992
Businesses Nearby
Explore this area
Business Placement
Demographics for 07503, NJ
19,893
Population
6,560
Households
3
Avg Household Size
35
Median Age
15%
College-Educated
78%
High-School Grad
1.5 sq mi
ZIP Area
13,262
Density / Sq Mi
$60,295
Median Household Income
$35,611
Median Earnings
$1,605
Median Rent
$314,900
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 - Portfolio includes 33 apartments across three buildings with a mix of one-, two-, and three-bedroom units.
Where is this apartment building located?
The property is located at 2 Chadwick St Paterson, NJ.
What are key features of this property?
This property features: Workforce housing portfolio in Paterson, NJ across 3 addresses: 2‑8 Chadwick, 11‑13 Washington, and 496‑500 E 23rd St.; 33 apartments total: 4 one‑bedroom, 22 two‑bedroom, and 7 three‑bedroom units.; Rents are below average with stated upside as rents are below average in a rising rental market.
