$735,000
$650,000
13.1%For more information regarding the value of a property, please contact us for a free consultation.
3 SCHOOL ST Passaic, NJ 07055
6 Baths
Key Details
Sold Price $735,000
Property Type Commercial
Sub Type Investment
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 202027613
Sold Date 04/29/21
Full Baths 6
Annual Tax Amount $12,126
Lot Dimensions 30 x 81
Property Sub-Type Investment
Property Description
This unique 6 unit investment property with separate utilities yielding a 7% cap rate is an exciting value proposition for the right motivated buyer. Under market gross Rents coming in at $63,420 and property holds an active green card. 4 water heaters replaced earlier this year in 2020, and 2 in 2018. New furnaces and roof installed in 2015. Furnaces are on PSEG's "WORRY FREE" contract and the roof was recently maintained this past October. All tenants are respectable with month to month agreements and post timely rent. Feel confident with its sense of pride and security, as this property was held by its sellers for the past 40 years. The right buyer at the right price. Prepare your offers, let's close!
Location
State NJ
County Passaic
Area Passaic
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Bought with LIBERTY REALTY LLC