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164 Atlantic St 12 Unit Apartment Building $3,900,000 ($325,000/Unit) 7.54% Cap Rate Paterson, NJ 07503
Executive Summary
Truly special opportunity to purchase 12 newly constructed units in growing Paterson NJ. Completed in 2023, this attractive offering has been fully occupied since completion and enjoy a 30 year tax abatement. Strong location and super on site. Great opportunity to expand your portfolio or start investing!
Property Facts
| Price | $3,900,000 | Apartment Style | Low-Rise |
| Price Per Unit | $325,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 7.54% | Building Size | 9,000 SF |
| No. Units | 12 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 2023 |
| Property Subtype | Apartment | ||
| Zoning | R-3 - Medium-Density Residential | ||
| Price | $3,900,000 |
| Price Per Unit | $325,000 |
| Sale Type | Investment |
| Cap Rate | 7.54% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 9,000 SF |
| No. Stories | 3 |
| Year Built | 2023 |
| Zoning | R-3 - Medium-Density Residential |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Views
- Freezer
Site Amenities
- 24 Hour Access
- Picnic Area
- Recycling
- Trash Pickup - Curbside
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 12 | - | - |
1 1
Very walkable
80/100
Moderately drivable
60/100
Some public transit
50/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 08-05402-0000-00010 | Improvements Assessment | $0 |
| Land Assessment | $55,600 | Total Assessment | $55,600 |
Property Taxes
Parcel Number
08-05402-0000-00010
Land Assessment
$55,600
Improvements Assessment
$0
Total Assessment
$55,600
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