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New Construction | Fully Occupied | 10-Units! 197-199 12th Ave 10 Unit Apartment Building $3,495,000 ($349,500/Unit) 6.87% Cap Rate Paterson, NJ 07501
INVESTMENT HIGHLIGHTS
- 30-Year Tax Abatement
- Secured Parking
- New Construction
- All Utilities Separated (Gas, Electric, Water, Sewer)
EXECUTIVE SUMMARY
New Construction! Fully Occupied! All Utilities Separated...including gas, electric, & water! AND A RARE...a 30-Year Tax Abatement!!! Newly constructed Dec 2024, this 10-unit multifamily consists of (4) 2B/1B units + (6) 1B/1B units, complemented with (15) parking spaces. 100% Occupied.
This property is being offered fully occupied , at a strong 6.87% cap rate. All units are finished in a modern aesthetic, with stainless steel appliances, and washer & dryers in every unit. Contact for a fully video walkthrough tough, of the exterior, garage, interior common areas, & units. This is a great income producing, turn key property, with minimal maintenance.
Full video tour of each unit available upon request & registration.
This property is being offered fully occupied , at a strong 6.87% cap rate. All units are finished in a modern aesthetic, with stainless steel appliances, and washer & dryers in every unit. Contact for a fully video walkthrough tough, of the exterior, garage, interior common areas, & units. This is a great income producing, turn key property, with minimal maintenance.
Full video tour of each unit available upon request & registration.
FINANCIAL SUMMARY (ACTUAL - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$240,243
|
$11.67
|
FINANCIAL SUMMARY (ACTUAL - 2025)
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $240,243 |
| Annual Per SF | $11.67 |
PROPERTY FACTS
| Price | $3,495,000 | Building Class | B |
| Price Per Unit | $349,500 | Lot Size | 0.18 AC |
| Sale Type | Investment | Building Size | 20,582 SF |
| Cap Rate | 6.87% | Average Occupancy | 100% |
| No. Units | 10 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 2024 |
| Property Subtype | Apartment | Parking Ratio | 7.41/1,000 SF |
| Apartment Style | Low-Rise |
| Price | $3,495,000 |
| Price Per Unit | $349,500 |
| Sale Type | Investment |
| Cap Rate | 6.87% |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.18 AC |
| Building Size | 20,582 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 2024 |
| Parking Ratio | 7.41/1,000 SF |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- 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 | 6 | - | - |
| 2+1 | 4 | - | - |
1 1
Walk Score®
Very Walkable (85)
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New Construction | Fully Occupied | 10-Units! | 197-199 12th Ave
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