247 Hope Ave
Passaic City, NJ 07055
Price: $899,000
GSMLS: 4050592Type: Multi-Family
Style: See Remarks, Under/Over
Total Units: 2
Beds: 8
Baths: 4 Full
Garage: No
Year Built: 2025
Acres: 0.22
Property Tax: $15,503
Description
Discover the Possibilities and unlock the exceptional potential of this Large Two Family home on an Oversized Lot 75 x 125. The very large two-family home generates $7,000 in gross monthly rental income. Collect strong cash flow while you explore future opportunities to possible subdivide -(see attached licensed appraisal for lot 37.5 x 100) or redevelopment - making this an ideal prospect for investors, builders, and visionaries. The existing two-family is being sold strictly as-is and any future development, buyer is responsible to acquire the necessary approvals. With its generous lot size and desirable setting, the possibilities are wide-open for those ready to create something special. A unique chance to combine income today with potential for more profit tomorrow. Don't miss it.
General Info
Style:
See Remarks, Under/Over
SqFt Building:
n/a
Total Rooms:
19
Basement:
Yes - Finished, Walkout
Interior:
n/a
Roof:
Asphalt Shingle
Exterior:
See Remarks
Lot Size:
75X125
Lot Desc:
n/a
Parking
Garage Capacity:
No
Description:
n/a
Parking:
On-Street Parking
Spaces Available:
n/a
Unit 1
Bedrooms:
3
Bathrooms:
2
Total Rooms:
10
Room Description:
Bedrooms, Eat-In Kitchen, Living Room, See Remarks, Storage
Levels:
2
Square Foot:
n/a
Fireplaces:
n/a
Appliances:
Dishwasher, Dryer, Range/Oven - Gas, Refrigerator, Washer
Utilities:
Owner Pays Water, Tenant Pays Electric, Tenant Pays Gas, Tenant Pays Heat
Handicap:
No
Unit 2
Bedrooms:
5
Bathrooms:
2
Total Rooms:
9
Room Description:
Bedrooms, Eat-In Kitchen, Living Room, See Remarks
Levels:
2
Square Foot:
n/a
Fireplaces:
n/a
Appliances:
Range/Oven - Gas, Refrigerator
Utilities:
Owner Pays Water, Tenant Pays Electric, Tenant Pays Gas, Tenant Pays Heat
Handicap:
No
Unit 3
Bedrooms:
n/a
Bathrooms:
n/a
Total Rooms:
n/a
Room Description:
n/a
Levels:
n/a
Square Foot:
n/a
Fireplaces:
n/a
Appliances:
n/a
Utilities:
n/a
Handicap:
n/a
Unit 4
Bedrooms:
n/a
Bathrooms:
n/a
Total Rooms:
n/a
Room Description:
n/a
Levels:
n/a
Square Foot:
n/a
Fireplaces:
n/a
Appliances:
n/a
Utilities:
n/a
Handicap:
n/a
Utilities
Heating:
2 Units, Forced Hot Air
Heating Fuel:
Gas-Natural
Cooling:
2 Units, Central Air
Water Heater:
Gas
Water:
Public Water
Sewer:
Public Sewer
Utilities:
Electric, 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:
$899,000
Tax Amount:
$15,503
Land Assessment:
$92,000
Build. Assessment:
$272,100
Total Assessment:
$364,100
Tax Rate:
4.26
Tax Year:
2025
Listing Information
MLS ID:
4050592
List Date:
09-04-2026
Days On Market:
3
Listing Broker:
COLDWELL BANKER REALTY
Listing Agent:
Pina Nazario
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
