Three-Family Residential with
86 Pennington St Paterson, NJ 07501
For Sale
$699,999
Pending
MULTI_FAMILY - Paterson City, NJ
Property Size2,964 SF
Lot Size0.06 Acres
Days on Market94
Property Features for 86 Pennington St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
12
Bathrooms
4
Rooms
Bathroom 4, Bathroom 3, Bedroom 2, Bedroom 4, Bedroom 5, Bedroom 8, Bedroom 6, Bathroom 1, Bathroom 2, Bedroom 11, Bedroom 1, Bedroom 12, Bedroom 7, Bedroom 10, Basement, Bedroom 9, Bedroom 3
Standard status
Pending
Size
2,964 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
13614
Utilities
Sewer type
Public Sewer
Heating system
Baseboard
Water source
Public
Building Details
Year built
1700
Floors in Building
3
Number of units
3
Roof type
Shingle
Architectural style
Other
Listing Agency:
REALTY ONE GROUP LEGEND
(973) 772-0660
Listed By:
KEVIN MONTERROSA
(973) 686-7777
Added: Apr 27
Changed: Jul 24
Last Checked: Jul 29 at 12:06AM
MLS# 4023468
Copyright © 2026 Garden State MLS, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This well-maintained three-family residential property offers three separate living units, each featuring four bedrooms and one full bathroom. The home includes baseboard gas heating and window unit cooling, supporting year-round comfort across the units. A full walk-out basement provides additional space for utilities and storage, complementing the residential layout above. Exterior construction is finished with vinyl siding, helping support durable, low-maintenance exterior care.
The property sits on a regular 25x100 lot and is connected to municipal water and sewer. Its Paterson-area setting is described as convenient to parks, schools, shopping, and public transportation, which can support daily accessibility for tenants.
For buyers seeking a multi-family asset with in-place occupancy, this property has all three units currently occupied. The consistent unit configuration—four bedrooms and one full bath per unit—may appeal to tenants looking for extra space, while the separate living areas can support straightforward day-to-day management. With municipal utilities and a basement that expands usable functionality through storage and utility space, the building presents a practical option for an owner looking to take over an operating residential income property.
The property sits on a regular 25x100 lot and is connected to municipal water and sewer. Its Paterson-area setting is described as convenient to parks, schools, shopping, and public transportation, which can support daily accessibility for tenants.
For buyers seeking a multi-family asset with in-place occupancy, this property has all three units currently occupied. The consistent unit configuration—four bedrooms and one full bath per unit—may appeal to tenants looking for extra space, while the separate living areas can support straightforward day-to-day management. With municipal utilities and a basement that expands usable functionality through storage and utility space, the building presents a practical option for an owner looking to take over an operating residential income property.
Key Highlights
- 3‑family property with all units occupied and generating consistent rental income
- Each unit features 4 bedrooms and 1 full bath with separate living spaces
- Baseboard gas heating and window unit cooling throughout the units
Financial Insights For Multifamily LT 5
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 | $75.8k | $25.56 |
| − Vacancy | −$4.9k | −$1.65 |
| EGI | $70.9k | $23.91 |
| − OpEx | −$21.3k | −$7.17 |
| NOI | $49.6k | $16.74 |
2,964 SF · lease $25.56/SF/yr · vacancy 6.46% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$708.7K
$620.1K – $826.8K
NOI $49,606 @ 7.0% cap · market cap 7.09%
Second Best
Apartment 5plus
$651.1K
$569.8K – $759.7K
NOI $45,580 @ 7.0% cap · market cap 6.51%
Theoretical Best
Office A
$774.0K
$677.2K – $903.0K
NOI $54,177 @ 7.0% cap · market cap 7.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Triplex - Three units are currently occupied, each with four bedrooms and baseboard gas heat, plus window AC and a walk-out basement.
Where is this triplex located?
The property is located at 86 Pennington St Paterson, NJ.
What is the asking price?
The asking price for this property is $699,999.
What are key features of this property?
This property features: 3‑family property with all units occupied and generating consistent rental income; Each unit features 4 bedrooms and 1 full bath with separate living spaces; Baseboard gas heating and window unit cooling throughout the units
