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Portfolio of 85 Properties | 1,528 Units 141-143 Governor St 10 Unit Apartment Building For Sale Paterson, NJ 07501
Investment Highlights
- Attractive assumable financing
- Strong in-place operations with approximately 95.3% occupancy and an average monthly rent exceeding $2,100,
- Select newly constructed assets benefit from long-term tax abatements, including 30-year abatements commencing in 2019 and beyond
- Many newly constructed or extensively renovated buildings
- Unit mixes are heavily concentrated in one- and two-bedroom apartments
Executive Summary
Rare opportunity to acquire a large-scale, institutionally operated multifamily portfolio comprised of 85 buildings* and 1,528 units throughout Paterson, New Jersey.
*May be purchased together or individually, subject to assumable individual or cross-collateralized financing, with property and sub-portfolio sizes ranging from 5 units to 126 units.
- Portfolio consists of newly constructed and substantially renovated multifamily assets completed between 2018 and 2025
- Select newly constructed assets benefit from long-term tax abatements, including 30-year abatements commencing in 2019 and beyond, significantly enhancing long-term cash flow and investment stability.
-The portfolio features attractive assumable financing across all properties with a combination of long-term fixed-rate debt structures
-Significant long-term rent growth potential supported by Paterson’s affordability advantage relative to nearby Hudson, Bergen, and Essex County markets, while maintaining convenient access to Manhattan employment centers.
*May be purchased together or individually, subject to assumable individual or cross-collateralized financing, with property and sub-portfolio sizes ranging from 5 units to 126 units.
- Portfolio consists of newly constructed and substantially renovated multifamily assets completed between 2018 and 2025
- Select newly constructed assets benefit from long-term tax abatements, including 30-year abatements commencing in 2019 and beyond, significantly enhancing long-term cash flow and investment stability.
-The portfolio features attractive assumable financing across all properties with a combination of long-term fixed-rate debt structures
-Significant long-term rent growth potential supported by Paterson’s affordability advantage relative to nearby Hudson, Bergen, and Essex County markets, while maintaining convenient access to Manhattan employment centers.
Property Facts
| Sale Type | Investment | Building Class | C |
| Sale Condition | Bulk/Portfolio Sale | Lot Size | 0.11 AC |
| No. Units | 10 | Building Size | 16,000 SF |
| Property Type | Multifamily | No. Stories | 4 |
| Property Subtype | Apartment | Year Built | 1915 |
| Apartment Style | Mid-Rise | Opportunity Zone |
Yes
|
| Zoning | R-3 | ||
| Sale Type | Investment |
| Sale Condition | Bulk/Portfolio Sale |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 16,000 SF |
| No. Stories | 4 |
| Year Built | 1915 |
| Opportunity Zone |
Yes |
| Zoning | R-3 |
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Exceptionally walkable
90/100
Fairly drivable
50/100
Some public transit
50/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 08-03111-0000-00033 | Improvements Assessment | $1,788,500 |
| Land Assessment | $248,100 | Total Assessment | $2,036,600 |
Property Taxes
Parcel Number
08-03111-0000-00033
Land Assessment
$248,100
Improvements Assessment
$1,788,500
Total Assessment
$2,036,600
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