Excellent investment opportunity in the growing city of Passaic, NJ. This fully renovated (2021) 6-unit residential building offers strong cash flow with an attractive 8% cap rate. Each unit features two spacious bedrooms and one bathroom, making it highly desirable to renters in this high-demand market. The property has been updated with modern finishes and systems, providing a turnkey solution for investors seeking reliable income with minimal maintenance concerns.The building also includes a partially finished basement that offers additional storage or potential for added amenities, along with a detached one-car garage. Located in a thriving and convenient area of Passaic City, tenants enjoy easy access to public transportation, shopping, schools, and local employers. With limited multifamily inventory in the area and growing rental demand, this asset presents a rare chance to own a stabilized, income-producing property in a rapidly developing market. Ideal for both seasoned investors and those entering the multifamily space, this is a well-maintained, cash-flowing building with long-term upside.
Property Type(s):
Commercial
|
Last Updated
|
6/18/2025
|
Year Built
|
1950
|
|
Community
|
Passaic
|
Garage Spaces
|
1.0
|
|
County
|
Passaic
|
Additional Details
| AREA |
Passaic |
| BASEMENT |
Full, Partially Finished, Walk-Out Access, Yes |
| CONSTRUCTION |
Brick, Vinyl Siding, Wood Siding |
| GARAGE |
Yes |
| HEAT |
Electric, Natural Gas |
| LOT |
2614 sq ft |
| LOT DESCRIPTION |
Corner Lot |
| PARKING |
On Street |
| SEWER |
Public Sewer |
| STORIES |
3 |
| TAXES |
11280 |
| UTILITIES |
Natural Gas Available |
| WATER |
Public |
| ZONING |
R3 |
Listed with SIGNATURE REALTY NJ
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This IDX solution is (c) Diverse Solutions 2025.
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