Off-market multifamily property in the heart of Paterson. Strong rents, renovated units, and multiple vacancies ready for immediate lease-up. Perfect for investors seeking cash flow + upside with minimal work.
Property Features:
• Three (3) 2BR/1BA units
• Bonus 1BR basement apartment
• Two units recently renovated
• Second-floor 2BR just vacated — on market for $2,000+
• Third-floor 2BR vacating end of December (cash-for-keys)
• 2BRs can exceed $2,000
• Clean building, no major issues
Income Potential:
• Stabilized GPR: ~$6,600/month ($79K+/year)
Great buy-and-hold opportunity in a rising rental market.
Photos
https://drive.google.com/drive/folders/1wQwitb947-VzmdadPEY5m8dlAw_3VC5W?usp=drive_link