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165-169 Godwin Ave 4 Unit Apartment Building $999,500 ($249,875/Unit) 9.51% Cap Rate Paterson, NJ 07501
Investment Highlights
- Separate Utilities
- Low Vacancy rate, On site Gated Parking
- Close to transportation
Executive Summary
Don't miss this outstanding investment opportunity in a prime Paterson location. This well-maintained four-family property generates nearly $120,000 in annual gross rental income and offers an impressive 9.51% cap rate, making it an excellent addition to any investment portfolio. Each spacious unit offers approximately 1,200 square feet of living space, providing layouts that attract and retain long-term tenants. The property features separate utilities for all units, helping minimize owner expenses and maximize cash flow. Additional highlights include six off-street parking spaces, a highly desirable amenity for tenants, and a convenient location close to major highways, public transportation, shopping, restaurants, schools, and parks. Contact Mike for details and showings 201-710-0598
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$120,000
|
$26.32
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$120,000
|
$26.32
|
| Taxes |
$17,882
|
$3.92
|
| Operating Expenses |
$6,900
|
$1.51
|
| Total Expenses |
$24,782
|
$5.43
|
| Net Operating Income |
$95,218
|
$20.88
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $120,000 |
| Annual Per SF | $26.32 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $120,000 |
| Annual Per SF | $26.32 |
| Taxes | |
|---|---|
| Annual | $17,882 |
| Annual Per SF | $3.92 |
| Operating Expenses | |
|---|---|
| Annual | $6,900 |
| Annual Per SF | $1.51 |
| Total Expenses | |
|---|---|
| Annual | $24,782 |
| Annual Per SF | $5.43 |
| Net Operating Income | |
|---|---|
| Annual | $95,218 |
| Annual Per SF | $20.88 |
Property Facts
| Price | $999,500 | Apartment Style | Low-Rise |
| Price Per Unit | $249,875 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.15 AC |
| Cap Rate | 9.51% | Building Size | 4,560 SF |
| Gross Rent Multiplier | 10 | No. Stories | 2 |
| No. Units | 4 | Year Built/Renovated | 1970/2022 |
| Property Type | Multifamily | Parking Ratio | 1.32/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | B-2 - Community Business | ||
| Price | $999,500 |
| Price Per Unit | $249,875 |
| Sale Type | Investment |
| Cap Rate | 9.51% |
| Gross Rent Multiplier | 10 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 4,560 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1970/2022 |
| Parking Ratio | 1.32/1,000 SF |
| Zoning | B-2 - Community Business |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+1 | 4 | $2,500 | 1,200 |
Exceptionally walkable
90/100
Fairly drivable
50/100
Some public transit
50/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 08-03506-0000-00039 | Total Assessment | $809,400 (2026) |
| Land Assessment | $118,100 (2026) | Annual Taxes | $17,882 ($3.92/SF) |
| Improvements Assessment | $691,300 (2026) | Tax Year | 2025 |
Property Taxes
Parcel Number
08-03506-0000-00039
Land Assessment
$118,100 (2026)
Improvements Assessment
$691,300 (2026)
Total Assessment
$809,400 (2026)
Annual Taxes
$17,882 ($3.92/SF)
Tax Year
2025
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165-169 Godwin Ave