16-Unit Apartment Building in
For Sale
$3,450,000
413 10Th Ave, Paterson, NJ 07514
16-unit apartment building in Paterson, NJ with strong cash flow potential.
Property Size13,000 SF
Price / SF$265.38
Days on Market550
Property Features for 413 10Th Ave
General Information
Standard status
Active
Size
13,000 SF
Taxes and HOA fees
Annual Taxes
$40,000
Building Details
Year Built
1950
Listing Agency:
PROMINENT PROPERTIES SIR
Listed By:
JORGE AVILES
Source:
Corcoran
Added: Apr 22, 2025
Changed: Mar 16
Last Checked: Mar 16 at 9:09AM
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 PROMINENT PROPERTIES SIR
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Investment Insights
Based on property information with market context.
This 16-unit apartment building is available for sale in Paterson, New Jersey, presenting a prime investment opportunity with strong cash flow potential. The property features 16 well-maintained rental units with a mix of one and two-bedroom layouts. The building size is approximately 13,000 square feet, aligning with the average multi-family building size in Paterson. The property is situated in a desirable neighborhood with convenient access to transit routes such as Route 19 and I-80. Residents also benefit from the proximity to amenities including shopping centers, parks, and the Great Falls Historic District.
Key Highlights
- Strong cash flow potential
- 16 well‑maintained rental units offering a great investment opportunity.
- Desirable neighborhood location
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$199,914
Cap Rate
5.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,998,280
$4.0M
Cap Rate 7%
$2,855,914
$2.9M
Cap Rate 9%
$2,221,267
$2.2M
Market Conditions
NOI Build-Up for 13,000 SF
Gross rent
$390.0K $30.00/SF
− Vacancy
−$26.5K −$2.04/SF
EGI
$363.5K $27.96/SF
− OpEx
−$163.6K −$12.58/SF
NOI
$199.9K $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%
$3,998,280
Cap Rate 7%
$2,855,914
Cap Rate 9%
$2,221,267
Alternative Uses
Best Use
Apartment 5plus
$2.86M
$2.50M – $3.33M
NOI $199,914 @ 7.0% cap · market cap 5.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.39M
$2.97M – $3.96M
NOI $237,619 @ 7.0% cap · market cap 6.89%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Location Intelligence
Trade Area within ½ mile
1,669
Businesses Nearby
Explore this area
Business Placement
Demographics for 07514, NJ
19,200
Population
6,752
Households
2.8
Avg Household Size
37
Median Age
12%
College-Educated
78%
High-School Grad
0.9 sq mi
ZIP Area
21,333
Density / Sq Mi
$65,492
Median Household Income
$34,962
Median Earnings
$1,472
Median Rent
$314,400
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 - 16-unit apartment building in Paterson, NJ with strong cash flow potential.
Where is this apartment building located?
The property is located at 413 10Th Ave Paterson, NJ.
What is the asking price?
The asking price for this property is $3,450,000.
What are key features of this property?
This property features: Strong cash flow potential; 16 well‑maintained rental units offering a great investment opportunity.; Desirable neighborhood location
