16-Unit Apartment Building in
413 10Th Ave Paterson, NJ 07514
For Sale
$3,450,000
16-unit apartment building in Paterson, NJ with strong cash flow potential.
Property Size13,000 SF
Price / SF$265.38
Days on Market459
Property Features for 413 10Th Ave
General Information
- Standard status
- Active
- Size
- 13,000 SF
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
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 For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $390.0k | $30.00 |
| − Vacancy | −$26.5k | −$2.04 |
| EGI | $363.5k | $27.96 |
| − OpEx | −$163.6k | −$12.58 |
| NOI | $199.9k | $15.38 |
13,000 SF · lease $30.00/SF/yr · vacancy 6.80% · expense 45.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
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
