354-358 E 24 St
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354-358 E 24 St
6 Unit Apartment Building $1,199,900 ($199,983/Unit) 6.60% Cap Rate Paterson, NJ 07514
Investment Highlights
- 6 four-bedroom units, each with separate utilities and dedicated parking
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$119,400
|
$9.62
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$119,400
|
$9.62
|
| Taxes |
$27,975
|
$2.25
|
| Operating Expenses |
$12,161
|
$0.98
|
| Total Expenses |
$40,136
|
$3.23
|
| Net Operating Income |
$79,264
|
$6.39
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $119,400 |
| Annual Per SF | $9.62 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $119,400 |
| Annual Per SF | $9.62 |
| Taxes | |
|---|---|
| Annual | $27,975 |
| Annual Per SF | $2.25 |
| Operating Expenses | |
|---|---|
| Annual | $12,161 |
| Annual Per SF | $0.98 |
| Total Expenses | |
|---|---|
| Annual | $40,136 |
| Annual Per SF | $3.23 |
| Net Operating Income | |
|---|---|
| Annual | $79,264 |
| Annual Per SF | $6.39 |
Property Facts
| Price | $1,199,900 | Building Class | C |
| Price Per Unit | $199,983 | Lot Size | 0.34 AC |
| Sale Type | Investment | Building Size | 12,408 SF |
| Cap Rate | 6.60% | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1975 |
| Property Subtype | Apartment | Parking Ratio | 0.64/1,000 SF |
| Apartment Style | Low Rise |
| Price | $1,199,900 |
| Price Per Unit | $199,983 |
| Sale Type | Investment |
| Cap Rate | 6.60% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.34 AC |
| Building Size | 12,408 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1975 |
| Parking Ratio | 0.64/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | - | - |
| 2+1 | 2 | - | - |
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Walk Score ®
Very Walkable (71)
PROPERTY TAXES
| Parcel Number | 08-02712-0000-00017 | Total Assessment | $625,000 (2024) |
| Land Assessment | $69,900 (2024) | Annual Taxes | $27,975 ($2.25/SF) |
| Improvements Assessment | $555,100 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
08-02712-0000-00017
Land Assessment
$69,900 (2024)
Improvements Assessment
$555,100 (2024)
Total Assessment
$625,000 (2024)
Annual Taxes
$27,975 ($2.25/SF)
Tax Year
2023
zoning
| Zoning Code | R-2 |
| R-2 |
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354-358 E 24 St
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