Commercial space For Lease in Paterson, NJ
MLS# : 25009707
PROPERTY DETAILS
PROPERTY DESCRIPTION
Welcome to this fully renovated rooming house, offering a prime investment with an 8.9% cap rate. Located near Downtown Paterson, shopping, restaurants, and public transit, this 13-unit building includes both residential and commercial spaces. It features seven rooms with 2 shared bathrooms, four rooms with their own private bathrooms, a 3-bedroom apartment, and a commercial unit, providing diverse income streams. Extensive renovations in 2020 include updated plumbing, electrical, heating, and bathrooms, attracting premium tenants and minimizing future costs. A live-in superintendent makes sure the building is clean, manages daily operations, ensuring tenant satisfaction and reducing overhead. With strong rental demand and easy access to transportation, this property offers both reliable cash flow and long-term appreciation which makes it a low-maintenance, high-yield investment. Private Financing potentially available.
Amenities
This listing is a courtesy of United Real Estate
888-501-6953 office, listing agent Sergio Limonta
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MADISON ADAMSTM
Ridgewood, NJ 07450
201-760-1100 (office)
201-760-1102 (fax)
| Homes : | $299,900 - 675,000 | 17 |
| Condos : | $239,900 - 325,000 | 5 |
| Co-ops : | - | |
| Twnhs : | $399,000 - 399,000 | 1 |
| 2-4 Fam : | $439,000 - 2,100,000 | 44 |
| 5+ Fam : | $900,000 - 1,400,000 | 2 |
| Land : | $60,000 - 2,100,000 | 4 |
| Rentals : | $1,300 - 4,100 | 36 |
| Mixd Use : | $575,000 - 1,400,000 | 6 |
| Com S : | - | |
| Com L : | - | |
| Biz : | $25,000 - 500,000 | 6 |
