6-Unit Apartment
For Sale
$1,299,000
35 Columbia Ave #1, Passaic, NJ 07055
Separate utilities serve each residence, with shared laundry and storage space in the basement.
Property Size4,500 SF
Price / SF$288.67
Days on Market158
Property Features for 35 Columbia Ave #1
General Information
Standard status
Active
Size
4,500 SF
Property subtype
Commercial
Zoning
Res
Net Operating Income
$84,375
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
6
Amenities
storage
laundry
Building Details
Building Size
4,500 SF
Year Built
2018
Stories
3
Units
6
Listing Agency:
Serhant New Jersey LLC
(973) 315-5959
Listed By:
Michael N Todaro
(201) 522-7641
Source:
Cammarotarealestate
Added: May 19
Changed: Oct 22
Last Checked: Oct 22 at 2:13PM
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 Serhant New Jersey LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 4,500-SF residential property contains six units with a combined 24 rooms, 11 bedrooms, and six full bathrooms. The building was constructed in 2018. Basement space provides laundry facilities and storage, and utilities are separate for each residence. Parking is available on the street.
The property is near public transportation, downtown Passaic, shopping, restaurants, schools, and major highways. Its zoning is designated Res.
The property is near public transportation, downtown Passaic, shopping, restaurants, schools, and major highways. Its zoning is designated Res.
Key Highlights
- Six residential units with 24 rooms, 11 bedrooms, and six full bathrooms
- 4,500 SF building, constructed in 2018
- Each residence has separate utilities
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$69,201
Cap Rate
5.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,384,020
$1.4M
Cap Rate 7%
$988,586
$988.6K
Cap Rate 9%
$768,900
$768.9K
Market Conditions
NOI Build-Up for 4,500 SF
Gross rent
$135.0K $30.00/SF
− Vacancy
−$9.2K −$2.04/SF
EGI
$125.8K $27.96/SF
− OpEx
−$56.6K −$12.58/SF
NOI
$69.2K $15.38/SF
Area
Passaic County, 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%
$1,384,020
Cap Rate 7%
$988,586
Cap Rate 9%
$768,900
Alternative Uses
Best Use
Apartment 5plus
$988.6K
$865.0K – $1.15M
NOI $69,201 @ 7.0% cap · market cap 5.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.18M
$1.03M – $1.37M
NOI $82,253 @ 7.0% cap · market cap 6.33%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Lease Details
6
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,342
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Separate utilities serve each residence, with shared laundry and storage space in the basement.
Where is this apartment building located?
The property is located at 35 Columbia Ave #1 Passaic, NJ.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: Six residential units with 24 rooms, 11 bedrooms, and six full bathrooms; 4,500 SF building, constructed in 2018; Each residence has separate utilities
