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Paterson Multifamily Investment Opportunity

399 E 28th Street, Paterson, NJ 07514

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For Sale

$1,400,000

Fully occupied 6-family property with additional basement units.

Type:Commercial

Property size:

6,000 SF

Lot size:

0.11 Acres

Price / SF:

$233/SF

HighLights

Fully occupied 6‑family property generating $13,250/month in rental income.
Fully finished basement with two additional units for increased rental potential.
Strong value‑add upside with below‑market rents.
Private driveway with four dedicated parking spaces.
Well‑maintained structure with updated mechanicals.
Prime location near transit, schools, and amenities.

We can help!

Listing Contact

JUAN TOMAS MOREL

For Sale

$1,400,000

Fully occupied 6-family property with additional basement units.

Type:Commercial

Property size:

6,000 SF

Lot size:

0.11 Acres

Price / SF:

$233/SF

Added:: Jan 3, 2026
Days on Market:: 156
Last Refresh:: Apr 5 at 8:33 pm

Property Features for 399 E 28th Street

General Information

Standard status: Active
Size: 6,000 SF
Lot size: 0.11 Acres
Property subtype: Commercial

Building Details

Year Built: 2021

We can help!

Listing Contact

JUAN TOMAS MOREL

Listing agent JUAN TOMAS MOREL

Listing office REALTY OF AMERICA

Listing date Jan 3, 2026

Source Corcoran

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 REALTY OF AMERICA

HighLights

Fully occupied 6‑family property generating $13,250/month in rental income.
Fully finished basement with two additional units for increased rental potential.
Strong value‑add upside with below‑market rents.
Private driveway with four dedicated parking spaces.
Well‑maintained structure with updated mechanicals.
Prime location near transit, schools, and amenities.

Overview

This fully occupied 6-family property in Paterson presents an investment opportunity. Each of the six units features 3 bedrooms and 2 bathrooms. The fully finished basement includes two additional units: a 2-bedroom/1-bath and a 3-bedroom/1-bath. The property generates $13,250 per month in rental income. The building is situated on a 50 x 100 lot and includes a private driveway with four dedicated parking spaces. The structure is well maintained with updated mechanicals. The annual taxes are $16,227.58. The property is located near transit, schools, and amenities. Buyers are encouraged to verify zoning with the city regarding the basement units.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$180.0k	$30.00
− Vacancy	−$12.2k	−$2.04
EGI	$167.8k	$27.96
− OpEx	−$75.5k	−$12.58
NOI	$92.3k	$15.38

6,000 SF · lease $30.00/SF/yr · vacancy 6.80% · expense 45.00%

Alternative Uses

Best Use

Apartment 5plus

$1.32M

$1.15M – $1.54M (±1% cap)

NOI $92,268 @ 7.0% cap · market cap 6.59%

Second Best

—

no second resolved use

Theoretical Best

Office A

$1.57M

$1.37M – $1.83M (±1% cap)

NOI $109,670 @ 7.0% cap · market cap 7.83%

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

Property Profile Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Location Insight

Map
Local Demand

City: Paterson
County: Passaic
State: New Jersey
Longitude: -74.1452
Latitude: 40.9231

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For sale
Apartment buildings
NJ
Paterson
07514
399 E 28th Street

What type of property is this?

Apartment building - Fully occupied 6-family property with additional basement units.

Where is this apartment building located?

The property is located at 399 E 28th Street Paterson, NJ.

What is the asking price?

The asking price for this property is $1,400,000.

What are key features of this property?

This property features: Fully occupied 6‑family property generating $13,250/month in rental income.; Fully finished basement with two additional units for increased rental potential.; Strong value‑add upside with below‑market rents.

399 E 28th Street, Paterson, NJ 07514

Fully occupied 6-family property with additional basement units.

Property Features for 399 E 28th Street

General Information

Building Details

We can help!

HighLights

Overview

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

Alternative Uses

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Secured Industrial Truck Terminal Site

Mixed-Use Retail With Two Businesses

Versatile Commercial Building with Gated Lot

Mixed-Use Retail and Apartments

Corner Warehouse with Drive-In Dock

Industrial Building in Paterson City

Income Producing Mixed-Use Property

Mixed-Use Building with Retail Space

Mixed-Use Property in Paterson City

Spacious Multi-Family Home in Paterson

Paterson City Multifamily Investment Opportunity

Income-Producing 3-Family Home

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