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220 Passaic Ave
Belleville, NJ 07109
Multifamily Property For Sale
·
6 Units
EXECUTIVE SUMMARY
This is an outstanding investment opportunity in the heart of Belleville! 220 Passaic Avenue is a 6-Unit Multifamily Property, located on a high-visibility corner lot and in a high-demand rental market. This 5,700 SqFt building sits on corner lot and features a desirable mix unit of two 2-bedroom units and four 1-bedroom units. The property was comprehensively renovated approximately two years ago, with updated interiors, modern finishes, and security system. Each unit includes in-unit laundry and private storage, offering comfort and convenience for tenants. Additional upgrades include security system covering hallways and exterior areas. Tenants benefit from 9 assigned parking spaces and access to a fully finished basement that adds functional space and long-term potential. The property is 100% occupied, delivering reliable income, strong tenant retention, and low vacancy rate. Located near Route 21, the Garden State Parkway, and NJ Transit. Just minutes from Newark, Bloomfield, and major employment centers this asset is also within walking distance of shopping, schools, and a public park. This is a rare chance to acquire a fully stabilized, recently upgraded multifamily asset in a sought-after Essex County submarket.
PROPERTY FACTS
| Price Per Unit | $350,000 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 5.60% | Lot Size | 0.12 AC |
| No. Units | 6 | Building Size | 5,700 SF |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built/Renovated | 1928/2023 |
| Zoning | RB/RC | ||
| Price Per Unit | $350,000 |
| Sale Type | Investment |
| Cap Rate | 5.60% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 5,700 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1928/2023 |
| Zoning | RB/RC |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Oven
- Range
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Walk-Up
- Smoke Detector
PROPERTY TAXES
| Parcel Number | 01-05006-0000-00006 | Improvements Assessment | $290,100 |
| Land Assessment | $210,000 | Total Assessment | $500,100 |
PROPERTY TAXES
Parcel Number
01-05006-0000-00006
Land Assessment
$210,000
Improvements Assessment
$290,100
Total Assessment
$500,100
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