400 28Th St Paterson, NJ 07514
- Commercial real estate
- 3,099 SF
Current Use by Public Records
- Commercial real estate
Property Details for 400 28Th St
- Year built
- 1908
- Property size
- 3,099 SF
- Property type
- Commercial real estate
- APN
- 1608_3310_4
Description
This exceptional 3-unit apartment building in Paterson, New Jersey presents a compelling investment opportunity. Located at 400 E 28th St, this property boasts a total of 3,099 square feet situated on a 2,500.34 square foot lot. The building, constructed in 1908 and extensively renovated in 2023, features three stories and offers a strong net operating income (NOI) of $88,200, translating to an attractive 11.04% cap rate. Each of the three units is currently occupied, providing immediate cash flow. The asking price is $799,000, representing a price per unit of $266,333.33 and a price per square foot of $257.83. The property is being sold as-is, where-is. This turnkey investment is ideally suited for investors seeking a stable, income-generating asset in a desirable location. The property's recent renovation ensures modern amenities and reduced maintenance costs, maximizing return on investment. This is a rare opportunity to acquire a well-maintained multifamily property in a growing market. The property's location in Passaic County, New Jersey, offers convenient access to local amenities and transportation. The property's Assessed Property Number (APN) is 1608_3310_4. This is a fantastic opportunity to add a high-performing asset to your portfolio.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Paterson
- County
- Passaic
- State
- New Jersey
- Longitude
- -74.145515199662
- Latitude
- 40.92314914159
