Modern Multifamily Investment
84 Auburn St Paterson, NJ 07501
84 Auburn St, Paterson, NJ, 07501
$1,300,000
For Sale
$1,300,000
2020-built, 6-unit multifamily property fully leased at market rents.
Property Size5,000 SF
Lot Size0.12 Acres
Price / SF$260
Days on Market186
Property Features for 84 Auburn St
General Information
- Standard status
- Active
- Size
- 5,000 SF
- Lot size
- 0.12 Acres
- Property subtype
- Commercial
Building Details
- Year Built
- 2020
Listing agency
COLDWELL BANKER REALTY HIL
(201) 930-8820
Listed by
MATTHEW O HARE
Source
Corcoran
Added: Jan 16 Updated: Jul 6 at 10:29AM Checked: Jul 21 at 5:46AM
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 HIL
Investment Insights
Based on property information with market context.
This is a 2020-built, 6-unit multifamily property fully leased at strong market rents. The property offers six 1-bedroom, 1-bath residences, each designed with luxury vinyl plank flooring, quartz countertops, and stainless steel appliances. Each unit includes in-unit laundry and individual HVAC systems controlled by each tenant. The building features tankless instant hot water, a full security camera system, a fire sprinkler system, and split HVAC systems serving the common areas. Located in Paterson, this property is a stabilized, low-maintenance asset. The property size is 5000 square feet.
Key Highlights
- Fully leased 6‑unit multifamily property built in 2020, providing immediate cash flow.
- Modern units with luxury vinyl plank flooring, quartz countertops, stainless steel appliances, and in‑unit laundry.
- Individual HVAC systems in each unit, allowing tenants to control their own climate.
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 | $150.0k | $30.00 |
| − Vacancy | −$10.2k | −$2.04 |
| EGI | $139.8k | $27.96 |
| − OpEx | −$62.9k | −$12.58 |
| NOI | $76.9k | $15.38 |
5,000 SF · lease $30.00/SF/yr · vacancy 6.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.10M
$961.1K – $1.28M
NOI $76,890 @ 7.0% cap · market cap 5.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.31M
$1.14M – $1.52M
NOI $91,392 @ 7.0% cap · market cap 7.03%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - 2020-built, 6-unit multifamily property fully leased at market rents.
Where is this apartment building located?
The property is located at 84 Auburn St Paterson, NJ.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Fully leased 6‑unit multifamily property built in 2020, providing immediate cash flow.; Modern units with **luxury vinyl plank flooring, quartz countertops, stainless steel appliances, and in‑unit laundry.**; Individual HVAC systems in each unit, allowing tenants to control their own climate.
