71 Park AvePaterson, NJ 07501

Property Details for 71 Park Ave

Property type

Other commercial real estate

APN

08 04318-0000-00018-0000-B01

APU

08043180000000180000B01

Description

This exceptional multifamily investment property, located at 71-73 Park Avenue in Paterson, New Jersey, presents a compelling opportunity for discerning investors. The building, a four-story structure, comprises twelve units, offering a blend of residential and retail space. Ten apartments provide a strong rental income stream, supplemented by two retail units offering additional revenue potential. The property boasts a compelling 6.96% capitalization rate, based on a Net Operating Income (NOI) of $125,237, and is offered at an attractive asking price of $1,800,000. This translates to a price per unit of $150,000, representing a significant value proposition in the vibrant Paterson market. Situated in Passaic County, with a convenient address in the 07501 zip code, this property benefits from excellent access to local amenities and transportation networks. The strong NOI and attractive cap rate make this a highly desirable investment, promising consistent returns and potential for future appreciation. Detailed financial statements are available upon request. This is a rare opportunity to acquire a well-maintained, income-producing asset in a growing New Jersey market. Don't miss out on this chance to add a high-performing property to your portfolio.

Location Insight

City

Paterson

County

Passaic

State

New Jersey

Latitude

40.9156

Longitude

-74.1637

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at support@realmo.com and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at support@realmo.com.