83 4th St - 83 4th St Passaic, NJ 07055
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83 4th St - 83 4th St Passaic, NJ 07055
3 Unit Apartment Building Offered at $1,416,003 CAD at a 9.01% Cap Rate in Passaic, NJ 07055
Executive Summary
ATTENTION INVESTORS! This fully renovated three-family home boasts a high gross rent roll of $104,400 annually. Each of the three apartments has undergone full renovations, featuring new kitchen cabinets, granite countertops, and brand-new appliances. Four fully renovated bathrooms. Separated utilities ensure low carrying costs. Tenants will appreciate the convenience of individual laundry hookups in each unit. Additional upgrades include two brand-new hot water heaters, a recently recoated roof, brand-new laminate wood floors and more. Third level apartment connects to the finished attic offering two additional bedrooms and additional full bath. Don't miss out on this exceptional opportunity!
Financial Summary (Pro forma - 2024) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$147,412
|
$36.85
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$147,412
|
$36.85
|
| Taxes |
$14,059
|
$3.51
|
| Operating Expenses |
$5,670
|
$1.42
|
| Total Expenses |
$19,729
|
$4.93
|
| Net Operating Income |
$127,683
|
$31.92
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $147,412 |
| Annual Per SF | $36.85 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $147,412 |
| Annual Per SF | $36.85 |
| Taxes (CAD) | |
|---|---|
| Annual | $14,059 |
| Annual Per SF | $3.51 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $5,670 |
| Annual Per SF | $1.42 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $19,729 |
| Annual Per SF | $4.93 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $127,683 |
| Annual Per SF | $31.92 |
Property Facts
| Price | $1,416,003 CAD | Lot Size | 0.06 AC |
| Price Per Unit | $472,001 CAD | Building Size | 4,000 SF |
| Sale Type | Investment | Average Occupancy | 100% |
| Cap Rate | 9.01% | No. Stories | 3 |
| No. Units | 3 | Year Built/Renovated | 1900/2023 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Price | $1,416,003 CAD |
| Price Per Unit | $472,001 CAD |
| Sale Type | Investment |
| Cap Rate | 9.01% |
| No. Units | 3 |
| Property Type | Multifamily |
| Lot Size | 0.06 AC |
| Building Size | 4,000 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1900/2023 |
| Opportunity Zone |
Yes |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 6+4 | 3 | $4,323 CAD | 1,000 - 1,500 |
1 of 1
Walk Score ®
Very Walkable (89)
zoning
| Zoning Code | R - 3 (Residential Multi-Familt and Apartments) |
| R - 3 (Residential Multi-Familt and Apartments) |
-
Calvin Wingo -
Coldwell Banker Commercial Realty
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83 4th St - 83 4th St Passaic, NJ 07055
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