122 16th Ave
Paterson City, NJ 07501
Price: $1,250,000
GSMLS: 4034158Type: Multi-Family
Style: See Remarks
Total Units: 4
Beds: 10
Baths: 7 Full & 1 Half
Garage: No
Year Built: 1925
Acres: 0.03
Property Tax: $20,481
Description
Attention Investors & Developers: Bring your vision to this high-upside 6-unit mixed-use property situated in a desirable RA-2 zoning redevelopment district [1.1], positioning you for potential tax advantages and massive future development potential [1.1]. The property features two commercial storefronts seamlessly combined into one spacious commercial space perfectly setup as a restaurant kitchen with extensive fridge/freezer storage alongside four residential units, including two newly renovated luxury 3-bedroom apartments, one freshly refreshed 2-bedroom apartment, and a final 2-bedroom unit. Delivered as a blank canvas value-add asset, this property is the perfect opportunity for a developer or investor looking to optimize the space from day one and build for the future.
General Info
Style:
See Remarks
SqFt Building:
3,513
Total Rooms:
16
Basement:
Yes - Finished
Interior:
n/a
Roof:
Asphalt Shingle
Exterior:
Brick, Vinyl Siding
Lot Size:
25X60
Lot Desc:
n/a
Parking
Garage Capacity:
No
Description:
n/a
Parking:
On-Street Parking
Spaces Available:
n/a
Unit 1
Bedrooms:
3
Bathrooms:
1
Total Rooms:
4
Room Description:
Bedrooms, Eat-In Kitchen, Kitchen, Living/Dining Room
Levels:
2
Square Foot:
n/a
Fireplaces:
n/a
Appliances:
Carbon Monoxide Detector, Smoke Detector
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, Eat-In Kitchen, Kitchen, Living/Dining Room
Levels:
2
Square Foot:
n/a
Fireplaces:
n/a
Appliances:
Carbon Monoxide Detector, Smoke Detector
Utilities:
Owner Pays Water, Tenant Pays Electric, Tenant Pays Gas, Tenant Pays Heat
Handicap:
No
Unit 3
Bedrooms:
3
Bathrooms:
2
Total Rooms:
4
Room Description:
Bedrooms, Eat-In Kitchen, Kitchen, Living/Dining Room
Levels:
3
Square Foot:
n/a
Fireplaces:
n/a
Appliances:
Carbon Monoxide Detector, Smoke Detector
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, Kitchen, Living Room
Levels:
3
Square Foot:
n/a
Fireplaces:
n/a
Appliances:
Carbon Monoxide Detector, Smoke Detector
Utilities:
Owner Pays Water, Tenant Pays Electric, Tenant Pays Gas, Tenant Pays Heat
Handicap:
No
Utilities
Heating:
4+ Units
Heating Fuel:
Gas-Natural
Cooling:
See Remarks
Water Heater:
n/a
Water:
Public Water
Sewer:
Public Sewer
Utilities:
See Remarks
Services:
n/a
School Information
Elementary:
n/a
Middle:
n/a
High School:
n/a
Community Information
County:
Passaic
Town:
Paterson City
Neighborhood:
n/a
Financial Considerations
List Price:
$1,250,000
Tax Amount:
$20,481
Land Assessment:
$75,700
Build. Assessment:
$589,700
Total Assessment:
$665,400
Tax Rate:
5.34
Tax Year:
2025
Listing Information
MLS ID:
4034158
List Date:
06-12-2026
Days On Market:
3
Listing Broker:
KELLER WILLIAMS MID-TOWN DIRECT
Listing Agent:
Menachem Silberman
Request More Information
Shawn and Diane Fox
RE/MAX American Dream
3108 Route 10 West
Denville, NJ 07834
Call: (973) 277-7853
Web: MorrisCountyLiving.com
