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Listed by Juan Morel Realty of America LLC
$540,000
Est. payment /mo
5 Baths
UPDATED:
Key Details
Property Type Multi-Family
Sub Type 2 Family
Listing Status Active Attorney Review
Purchase Type For Sale
MLS Listing ID 25026128
Style 2 Family
Full Baths 5
Property Sub-Type 2 Family
Property Description
Investor’s dream! This legal 2-family property in Paterson is a high-yield, cash-flowing opportunity w/ no certificate of occupancy required a rare advantage for savvy investors. The 1st floor features 2 studio units, each w/ its own bathroom. The 2nd floor mirrors the layout with 2 more private studio suites, & a finished attic adds a 5th bonus studio unit. Currently generating $6,100/monin cash rental income with no formal leases, this asset offers immediate returns and flexibility. Two units rent at $1,300 each, two at $1,200, & one at $1,100. With annual taxes at $6,310 and insurance at $4,500, this investment maintains a strong profit margin. While there’s no finished basement and street parking only, the property’s location in a high-demand rental area makes it a reliable earner with room to grow. Whether you're building your first portfolio or adding another gem to your collection, this is an opportunity you don’t want to miss. Cash flow from day one in a thriving rental market.
Location
State NJ
County Passaic
Interior
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