166 8Th St, Passaic, NJ 07055
- Apartment buildings
- 9,999 SF
- 0.06 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 166 8Th St
- Year built
- 1940
- Lot size
- 0.06 lot acres
- Property type
- Apartment buildings
Description
This exceptional investment opportunity presents a six-unit multifamily property located at 166 8th Street, Unit 6, in the desirable city of Passaic, New Jersey. The property sits on a 0.06-acre lot and boasts a substantial 9,999 square feet of living space, spread across six individual units. This presents a significant opportunity for investors seeking strong rental income. The property's current configuration offers a mix of renovated and unrenovated units, providing immediate income and potential for value appreciation through further upgrades. One unit is currently vacant, having recently undergone painting and refreshing, ready for immediate occupancy and rental income generation. Another unit has been completely renovated, including the installation of a new in-unit laundry facility, enhancing its appeal to prospective tenants and commanding higher rental rates. The existing units demonstrate a solid foundation for continued rental income, with the potential for increased profitability through strategic renovations and lease management in the remaining units. The property's location in Passaic, NJ, offers convenient access to local amenities, transportation, and a strong rental market, making it an attractive investment for both seasoned and aspiring real estate investors. The asking price of $1,300,000 reflects the property's significant potential for return on investment.
Value Estimations
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Location Insight
- Map
- Local Demand
- City
- Passaic
- County
- Passaic
- State
- New Jersey
- Longitude
- -74.11036
- Latitude
- 40.86206
