70 Passaic St

Passaic City, NJ 07055


 

Price: $999,900

GSMLS:  3931518
Type: Multi-Family
Style: 3-Three Story
Total Units: 4
Beds: 12
Baths: 6 Full
Garage: No
Year Built: Unknown
Acres: 0.06
Property Tax: $17,925
Description
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.
General Info
Style:
3-Three Story
SqFt Building:
n/a
Total Rooms:
24
Basement:
Yes - Finished, Full
Interior:
n/a
Roof:
Flat
Exterior:
Brick
Lot Size:
25X100
Lot Desc:
n/a
Parking
Garage Capacity:
No
Description:
n/a
Parking:
None
Spaces Available:
n/a
Unit 1
Bedrooms:
2
Bathrooms:
1
Total Rooms:
4
Room Description:
Bedrooms, Dining Room, Living Room
Levels:
1
Square Foot:
n/a
Fireplaces:
n/a
Appliances:
See Remarks
Utilities:
Owner Pays Water, Tenant Pays Electric, Tenant Pays Gas, Tenant Pays Heat
Handicap:
No
Unit 2
Bedrooms:
2
Bathrooms:
1
Total Rooms:
4
Room Description:
Bedrooms, Dining Room, Living Room
Levels:
1
Square Foot:
n/a
Fireplaces:
n/a
Appliances:
See Remarks
Utilities:
Owner Pays Water, Tenant Pays Electric, Tenant Pays Gas, Tenant Pays Heat
Handicap:
No
Unit 3
Bedrooms:
2
Bathrooms:
1
Total Rooms:
4
Room Description:
Bedrooms, Dining Room, Living Room
Levels:
1
Square Foot:
n/a
Fireplaces:
n/a
Appliances:
See Remarks
Utilities:
Owner Pays Water, Tenant Pays Electric, Tenant Pays Gas, Tenant Pays Heat
Handicap:
No
Unit 4
Bedrooms:
2
Bathrooms:
1
Total Rooms:
4
Room Description:
Bedrooms, Dining Room, Living Room
Levels:
1
Square Foot:
n/a
Fireplaces:
n/a
Appliances:
See Remarks
Utilities:
Owner Pays Water, Tenant Pays Electric, Tenant Pays Gas, Tenant Pays Heat
Handicap:
No
Utilities
Heating:
Baseboard - Hotwater
Heating Fuel:
Gas-Natural
Cooling:
Window A/C(s)
Water Heater:
n/a
Water:
Public Water
Sewer:
Public Sewer
Utilities:
Gas-Natural
Services:
n/a
School Information
Elementary:
n/a
Middle:
n/a
High School:
n/a
Community Information
County:
Passaic
Town:
Passaic City
Neighborhood:
n/a
Financial Considerations
List Price:
$999,900
Tax Amount:
$17,925
Land Assessment:
$49,900
Build. Assessment:
$397,800
Total Assessment:
$447,700
Tax Rate:
4.00
Tax Year:
2023
Listing Information
MLS ID:
3931518
List Date:
10-28-2024
Days On Market:
4
Listing Broker:
EXP REALTY, LLC
Listing Agent:
Matthew Gevirtz
 

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Shawn and Diane Fox
RE/MAX American Dream
3108 Route 10 West
Denville, NJ 07834
Call: (973) 277-7853
Web: MorrisCountyLiving.com


RE/MAX

Town & Valley II

211 Route 10 East
Succasunna, NJ 07876
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Fax: (973) 598-1908


Shawn and Diane Fox