70 Passaic St
Passaic City, NJ 07055-8336
- 12 beds
- 6 baths
- – sqft
- 2,614 sqft lot
- – on site
Welcome to this well-maintained 6-unit multifamily building, an outstanding investment opportunity in a prime location. The property features two units on each of the three floors, with each unit offering 2 bedrooms, 1 bathroom, a living room, and an eat-in kitchen. All units have separate utilities and natural gas heating, making management straightforward. The basement adds value with a shared laundry room and a bonus studio apartment complete with a full bathroom and kitchen.This property is currently generating a total annual rental income of $100,128 and is being offered at a 8% cap rate, with rents currently below market value, providing an excellent opportunity for increased revenue. The rent roll includes: Apt 1 - $1,313, Apt 2 - $1,570, Apt 3 - $1,450, Apt 4 - $1,241, Apt 5 - $1,493, Apt 6 - $1,277. Annual expenses include approximately $6,500 for insurance and $18,000 for property taxes.Tenants can also enjoy the backyard, which features a storage shed and a small outdoor space. The building is located in a no-flood zone and offers easy access to major highways and public transportation, making it an attractive option for tenants. This multifamily property is a solid investment with great upside potential.
Listing courtesy of GSMLS / MATTHEW GEVIRTZ / EXP REALTY, LLC
Last checked:
Checking…
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Last updated Oct 31, 2024
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MLS# 3931518 —
This property is listed in more than one place. See it here.
The Building
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Unit Style:3-Three Story
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Roof Description:Flat
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Exterior Description:Brick
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Basement:Yes
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Total # of Units:4
Interior
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Total # of Rooms:24
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Basement Description:Finished, Full
Location
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Directions:Head southeast on Main Ave, turn right on Monroe St, left on Passaic St to #70.
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Latitude:40.8627
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Longitude:-74.11011
The Property
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Lot Identifier:5
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Approx Lot Size:25 Sqft
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Total Acres:0 Sqft
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Easements:No
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Assessment Land:49900
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Assess Amount Land Tax:*
Listing Agent
- Contact info:
- Office phone:
- (866) 201-6210
Taxes
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Tax ID For Property:2507-01019-0000-00005-0000-
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Tax Year:2023
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Tax Year:*
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Tax Rate:*
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Tax Rate Year:2024
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Tax Rate Amount:4.004
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Tax Amount:$17,925
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Tax Amount:$*
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Lot ID Tax:*
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Lot Size Tax:*
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Acres Tax:$*
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Block ID Tax:*
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City Tax:$*
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County Tax:$*
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Zip Code Tax:*
Beds
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# of Bedrooms:12
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Unit 1 Bedrooms:2
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Unit 3 Bedrooms:2
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Unit 2 Bedrooms:2
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Unit 4 Bedrooms:2
Baths
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Total # of Baths:6.00
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Total # of Full Baths:6
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Unit 1 Baths:1.0
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Unit 2 Baths:1.0
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Unit 3 Baths:1.0
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Unit 4 Baths:1.0
Heating & Cooling
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Cooling:Window A/C(s)
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Heating:Baseboard - Hotwater
Utilities
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Utilities:Gas-Natural
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Water:Public Water
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Fuel Type:Gas-Natural
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Sewer:Public Sewer
The Community
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Assessment Total:447700
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Assessment Total Tax:*
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Assessment Bldg:397800
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Assess Amount Building Tax:*
Parking
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Parking/Driveway Description:None
Extra Units
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Unit 1 Levels:1
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Unit 2 Levels:1
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Unit 3 Levels:1
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Unit 4 Levels:1
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Unit 1 Rooms:4
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Unit 2 Rooms:4
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Unit 3 Rooms:4
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Unit 4 Rooms:4
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Unit 1 Handicap Modified:No
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Unit 2 Handicap Modified:No
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Unit 3 Handicap Modified:No
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Unit 4 Handicap Modified:No
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Unit 1 Room Description:Bedrooms, Dining Room, Living Room
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Unit 2 Room Description:Bedrooms, Dining Room, Living Room
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Unit 3 Room Description:Bedrooms, Dining Room, Living Room
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Unit 4 Room Description:Bedrooms, Dining Room, Living Room
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Unit 1 Appliances/Equipment:See Remarks
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Unit 2 Appliances/Equipment:See Remarks
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Unit 3 Appliances/Equipment:See Remarks
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Unit 4 Appliances/Equipment:See Remarks
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
Date | Event | Source | Price | % Change |
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10/28/24
Oct 28, 2024
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Listed / Active | GSMLS | $999,900 | |
10/9/24
Oct 9, 2024
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Price Changed | NJMLS | ||
9/16/24
Sep 16, 2024
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Listed / Active | NJMLS |