Modern Multifamily Investment
For Sale
$1,300,000
84 Auburn St, Paterson, NJ 07501
2020-built, 6-unit multifamily property fully leased at market rents.
Property Size5,000 SF
Lot Size0.12 Acres
Price / SF$260
Days on Market231
Property Features for 84 Auburn St
General Information
Standard status
Active
Size
5,000 SF
Lot size
0.12 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$5,940
Amenities
Central air
Asphalt Shingle Roof
4+ Units Cooling
4+ Units Heating
Central Air Cooling
Forced Hot Air Heating
Level Lot
On-Street Parking
Building Details
Year Built
2020
Listing Agency:
COLDWELL BANKER REALTY HIL
(201) 930-8820
Listed By:
MATTHEW O HARE
(201) 327-5050
Source:
Corcoran
Added: Jan 16
Changed: Sep 3
Last Checked: Sep 2 at 6:44PM
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.
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
$76,890
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
5.91%
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%
$1,537,800
$1.5M
Cap Rate 7%
$1,098,429
$1.1M
Cap Rate 9%
$854,333
$854.3K
Market Conditions
NOI Build-Up for 5,000 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
$150.0K $30.00/SF
− Vacancy
−$10.2K −$2.04/SF
EGI
$139.8K $27.96/SF
− OpEx
−$62.9K −$12.58/SF
NOI
$76.9K $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 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%
$1,537,800
Cap Rate 7%
$1,098,429
Cap Rate 9%
$854,333
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 authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,566
Businesses Nearby
Explore this area
Business Placement
Demographics for 07501, NJ
37,918
Population
13,119
Households
2.9
Avg Household Size
33
Median Age
9%
College-Educated
71%
High-School Grad
1.8 sq mi
ZIP Area
21,066
Density / Sq Mi
$40,699
Median Household Income
$32,103
Median Earnings
$1,442
Median Rent
$304,400
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?
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.
