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107-109 Highland St

5 Unit Apartment Building $975,000 ($195,000/Unit) 7% Cap Rate Paterson, NJ 07524

Apartment Buildings New Jersey Paterson 107-109 Highland St, Paterson, NJ 07524

Investment Highlights

  • Strong strategic location near Bunker Hill
  • All two-bed / 1-bath units
  • Little to no differed maintenance, built in 2021

Executive Summary

The property consists of five (5) 2BR / 1 BATH apartments and a parking lot for residents. Highland Street sits in a strong strategic location as owners can offer residents quality units with parking in a close vicinity to Paterson industrial neighborhood, Bunker Hill.The property was built in 2021 and has a 5-year tax abatement in place through the end of 2026. Current owners pay taxes on the assessed value of the land only. At the conclusion of the 5-year tax abatement, the property will be reassessed at its full value for tax purposes.

Attachments

Marketing Brochure/Flyer

Property Facts

Price $975,000 Property Subtype Apartment
Price Per Unit $195,000 Building Class C
Sale Type Investment Lot Size 0.12 AC
Cap Rate 7% Building Size 2,500 SF
No. Units 5 No. Stories 1
Property Type Multifamily Year Built 1900
Price $975,000
Price Per Unit $195,000
Sale Type Investment
Cap Rate 7%
No. Units 5
Property Type Multifamily
Property Subtype Apartment
Building Class C
Lot Size 0.12 AC
Building Size 2,500 SF
No. Stories 1
Year Built 1900

Unit Amenities

  • Air Conditioning

Site Amenities

  • Smoke Detector
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Walk Score ®
Very Walkable (80)
What is a Walk Score®, Transit Score® & Bike Score®?
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Transit Score® measures access to public transit.
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What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®
Learn How It Works Detailed Scores

zoning

Zoning Code C
C
(973) 747-9718

Contact

  • Listing ID: 33208373

  • Date on Market: 9/17/2024

  • Last Updated:

  • Address: 107-109 Highland St, Paterson, NJ 07524

More public record information on 107-109 Highland St, Paterson, NJ 07524

The Multifamily Property at 107-109 Highland St, Paterson, NJ 07524 is currently available for sale. Contact Ripco Real Estate for more information.

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107-109 Highland St
(973) 747-9718 x

107-109 Highland St

Casey Egan

(973) 747-9718

(973) 747-9718

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