Carroll Street Apartments | 47-49 Carroll St
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Carroll Street Apartments 47-49 Carroll St
16 Unit Apartment Building $4,900,000 ($306,250/Unit) 7.19% Cap Rate Paterson, NJ 07501
Executive Summary
Welcome to an exceptional investment opportunity at 47-49 Carroll Street in Paterson, NJ. This impressive, fully renovated, and turn-key 16-unit property offers a total of 13,056 square feet of living space, set on a 5,000 square foot lot. Each unit features a comfortable 2-bedroom, 1-bathroom layout, and the property is fully occupied, ensuring immediate rental income. Residents enjoy the convenience of on-site laundry facilities in the basement. Benefit from a 30-year tax abatement and take advantage of the property's location within an opportunity zone, aligning with Paterson's exciting revitalization efforts. An income and expense report is available upon request, providing transparency and insight into this smart investment. Don't miss your chance to be part of Paterson's promising future!
Property Facts
| Price | $4,900,000 | Apartment Style | Mid Rise |
| Price Per Unit | $306,250 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.11 AC |
| Cap Rate | 7.19% | Building Size | 13,000 SF |
| No. Units | 16 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 4 |
| Property Subtype | Apartment | Year Built | 1940 |
| Price | $4,900,000 |
| Price Per Unit | $306,250 |
| Sale Type | Investment |
| Cap Rate | 7.19% |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid Rise |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 13,000 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built | 1940 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 16 | $2,000 | - |
Walk Score ®
Very Walkable (77)
PROPERTY TAXES
| Parcel Number | 08-03211-0000-00046 | Improvements Assessment | $1,093,300 |
| Land Assessment | $107,500 | Total Assessment | $1,200,800 |
PROPERTY TAXES
Parcel Number
08-03211-0000-00046
Land Assessment
$107,500
Improvements Assessment
$1,093,300
Total Assessment
$1,200,800
zoning
| Zoning Code | R-2 |
| R-2 |
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Carroll Street Apartments | 47-49 Carroll St
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