Ignite FB Tracking Pixel70 Passaic St 9999, Passaic City, NJ 07055 - KIMBERLY KELLY
KIMBERLY  KELLY
KIMBERLY KELLY, Exp Realty, LLCPhone: (201) 616-8959
Email: [email protected]
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listing
1 of 50
CommercialFor Sale
$1,199,900
70 Passaic St 9999
Passaic City, NJ 07055
Courtesy of Exp Realty, LLC
MLS: Garden State MLS
Est. Mortgage
$6,294/mo

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 6% 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.

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