8-Unit Apartment
For Sale
$1,248,800
276 Ellison St #276, Paterson, NJ 07501
Separate utility services serve each apartment, with residential zoning and a 2017–2018 rehabilitation.
Property Size3,945 SF
Price / SF$316.55
Days on Market294
Property Features for 276 Ellison St #276
General Information
Standard status
Active
Size
3,945 SF
Property subtype
Commercial
Zoning
residential
Occupancy
100%
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
8
Building Details
Building Size
3,945 SF
Year Built
1975
Year Renovated
2018
Stories
3
Units
8
Listing Agency:
United Real Estate
(888) 501-6953
Listed By:
Runner Borges
Source:
Cammarotarealestate
Added: Jan 2
Changed: Oct 22
Last Checked: Oct 22 at 2:25PM
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 United Real Estate
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 8-unit apartment property contains 3,945 square feet and is zoned residential. The building dates to 1975 and underwent a complete rehabilitation in 2017–2018. Each unit has separate utilities, and the property is being offered in as-is condition.
The building is fully occupied and located near highway access. A hospital, restaurants, retail, and public transportation are described as minutes away.
The building is fully occupied and located near highway access. A hospital, restaurants, retail, and public transportation are described as minutes away.
Key Highlights
- Eight apartments in a 3,945‑square‑foot building
- Fully occupied property with separate utilities for each unit
- Complete rehabilitation completed in 2017–2018; built in 1975
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$60,666
Cap Rate
4.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,213,320
$1.2M
Cap Rate 7%
$866,657
$866.7K
Cap Rate 9%
$674,067
$674.1K
Market Conditions
NOI Build-Up for 3,945 SF
Gross rent
$118.4K $30.00/SF
− Vacancy
−$8.0K −$2.04/SF
EGI
$110.3K $27.96/SF
− OpEx
−$49.6K −$12.58/SF
NOI
$60.7K $15.38/SF
Area
Paterson, NJ
Vacancy
6.80%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,213,320
Cap Rate 7%
$866,657
Cap Rate 9%
$674,067
Alternative Uses
Best Use
Apartment 5plus
$866.7K
$758.3K – $1.01M
NOI $60,666 @ 7.0% cap · market cap 4.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.03M
$901.4K – $1.20M
NOI $72,108 @ 7.0% cap · market cap 5.77%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
8
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,560
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Separate utility services serve each apartment, with residential zoning and a 2017–2018 rehabilitation.
Where is this apartment building located?
The property is located at 276 Ellison St #276 Paterson, NJ.
What is the asking price?
The asking price for this property is $1,248,800.
What are key features of this property?
This property features: Eight apartments in a 3,945‑square‑foot building; Fully occupied property with separate utilities for each unit; Complete rehabilitation completed in 2017–2018; built in 1975
