Renovated Triplex with
For Sale
$699,900
69 Graham Ave, Paterson, NJ 07524
Legal three-family property with occupied units, updated utilities, and a 2021 roof.
Property Size3,207 SF
Price / SF$218.72
Days on Market32
Property Features for 69 Graham Ave
General Information
Standard status
Active
Size
3,207 SF
Property subtype
Multi Family Home
Occupancy
100%
Net Operating Income
$63,335
Additional Details
Multifamily Units
3
Building Details
Building Size
3,207 SF
Year Built
1900
Units
3
Listing Agency:
Realty One Group Legend
(973) 772-0660
Listed By:
Sol Castanos · License #1867493
(973) 772-0660
Source:
Betterhomerealestate
Added: Jul 29
Changed: Aug 28
Last Checked: Aug 28 at 2:45PM
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 One Group Legend
Investment Insights
Based on property information with market context.
This legal three-family property contains 11 bedrooms, 3 full baths, and over 3,200 square feet across three residential units. The building is fully occupied with tenants in place, while the second- and third-floor units have been renovated. Updated utilities and a roof completed in 2021 add to the recent capital improvements. A full unfinished basement provides additional space within the existing structure.
Located at 69 Graham Ave in Paterson, New Jersey, the property is offered strictly as-is, where-is. The sale includes the existing tenancy, and buyer inspections are limited to informational purposes. Constructed in 1900, the asset combines established multifamily construction with documented updates to key building components.
Located at 69 Graham Ave in Paterson, New Jersey, the property is offered strictly as-is, where-is. The sale includes the existing tenancy, and buyer inspections are limited to informational purposes. Constructed in 1900, the asset combines established multifamily construction with documented updates to key building components.
Key Highlights
- Legal 3‑family property with 11 bedrooms and 3 full baths
- Over 3,200 square feet across three residential units
- Fully occupied with tenants in place
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$53,556
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.65%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,071,120
$1.1M
Cap Rate 7%
$765,086
$765.1K
Cap Rate 9%
$595,067
$595.1K
Market Conditions
NOI Build-Up for 3,200 SF
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.
Gross rent
$81.8K $25.56/SF
− Vacancy
−$5.3K −$1.65/SF
EGI
$76.5K $23.91/SF
− OpEx
−$23.0K −$7.17/SF
NOI
$53.6K $16.74/SF
Area
Paterson, NJ
Vacancy
6.46%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,071,120
Cap Rate 7%
$765,086
Cap Rate 9%
$595,067
Alternative Uses
Best Use
Multifamily LT 5
$765.1K
$669.5K – $892.6K
NOI $53,556 @ 7.0% cap · market cap 7.65%
Second Best
Apartment 5plus
$703.0K
$615.1K – $820.2K
NOI $49,210 @ 7.0% cap · market cap 7.03%
Theoretical Best
Office A
$835.6K
$731.1K – $974.9K
NOI $58,491 @ 7.0% cap · market cap 8.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,835
Businesses Nearby
Explore this area
Business Placement
Demographics for 07524, NJ
14,130
Population
4,670
Households
3
Avg Household Size
33
Median Age
13%
College-Educated
73%
High-School Grad
0.8 sq mi
ZIP Area
17,663
Density / Sq Mi
$50,033
Median Household Income
$31,934
Median Earnings
$1,386
Median Rent
$360,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Legal three-family property with occupied units, updated utilities, and a 2021 roof.
Where is this triplex located?
The property is located at 69 Graham Ave Paterson, NJ.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: Legal 3‑family property with 11 bedrooms and 3 full baths; Over 3,200 square feet across three residential units; Fully occupied with tenants in place
