Six-Unit Multifamily
8 3Rd St Passaic, NJ 07055
8 3Rd St, Passaic, NJ, 07055
$950,000
For Sale
$950,000
Six-unit multifamily property sold as-is, with a mix of occupied and vacant units requiring buyer due diligence.
Property Size2,588 SF
Price / SF$367.08
Days on Market15
Property Features for 8 3Rd St
General Information
- Standard status
- Active
- Size
- 2,588 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1900
Listing agency
COLDWELL BANKER REALTY
(973) 378-8300
Listed by
LUIS MIRANDA · License #287630
Source
Corcoran
Added: Jul 7 Updated: Jul 20 at 8:13PM Checked: Jul 21 at 5:06AM
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 COLDWELL BANKER REALTY
Investment Insights
Based on property information with market context.
This six-unit multifamily investment property is offered for sale strictly as-is. The current unit mix includes attic, second floor (rear and front), first floor, and basement levels, plus rear top and rear bottom units. According to the provided information, several units are currently occupied with monthly rent listed for those spaces, while others are vacant, including a second-floor front unit noted as vacant since last rented in December 2025 and a rear bottom unit noted as vacant since last rented in July 2005.
The buyer is responsible for obtaining a Certificate of Continued Occupancy (C,C,O.), smoke certification, and for any inspections or repairs required to close.
The seller’s materials reflect an opportunity to take over a multi-unit asset and address occupancy and property condition through a buyer-managed plan. Exact unit details and rent figures should be confirmed during due diligence.
The buyer is responsible for obtaining a Certificate of Continued Occupancy (C,C,O.), smoke certification, and for any inspections or repairs required to close.
The seller’s materials reflect an opportunity to take over a multi-unit asset and address occupancy and property condition through a buyer-managed plan. Exact unit details and rent figures should be confirmed during due diligence.
Key Highlights
- Six‑unit multifamily property built in 1900
- Sold strictly as‑is; buyer is responsible for required inspections and repairs to close
- Buyer must obtain Certificate of Continued Occupancy (C,C,O,) and complete smoke certification
Local 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 | $77.6k | $30.00 |
| − Vacancy | −$5.3k | −$2.04 |
| EGI | $72.4k | $27.96 |
| − OpEx | −$32.6k | −$12.58 |
| NOI | $39.8k | $15.38 |
2,588 SF · lease $30.00/SF/yr · vacancy 6.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$568.5K
$497.5K – $663.3K
NOI $39,798 @ 7.0% cap · market cap 4.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$675.8K
$591.3K – $788.4K
NOI $47,304 @ 7.0% cap · market cap 4.98%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Six-unit multifamily property sold as-is, with a mix of occupied and vacant units requiring buyer due diligence.
Where is this apartment building located?
The property is located at 8 3Rd St Passaic, NJ.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Six‑unit multifamily property built in 1900; Sold strictly as‑is; buyer is responsible for required inspections and repairs to close; Buyer must obtain Certificate of Continued Occupancy (C,C,O,) and complete smoke certification
