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Listed by Jason Pierce Prominent Properties Sotheby's International Realty-Tenafly
$ 1,400,000
Est. payment | /mo
$ 1,400,000
Est. payment | /mo
Key Details
Property Type Multi-Family
Sub Type 5+Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 25028212
Style 5+Family
Property Sub-Type 5+Family
Property Description
Fully occupied and recently updated, this 6-unit commercial apartment building delivers immediate cash flow with room for growth. Featuring five spacious 2-bedroom units and one 1-bedroom unit, plus six basement storage units for additional rental income, this property is designed for strong returns. Five of the six apartments have been renovated, attracting quality tenants and reducing maintenance costs. Located in the heart of Passaic with easy access to Route 21, Route 3, I-80, and NYC, the property sits in a high-demand rental market with minimal vacancy. Tenants enjoy proximity to major retailers like Home Depot, grocery stores, dining, public transportation, and essential services. With a current 6.7% cap rate and bonus income potential from storage rentals, opportunities like this are rare in today’s market. Act quickly – this income-producing asset will move fast.
Location
State NJ
County Passaic
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Thomas Mikalouskas
REALTOR® | Lic# 0235388