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339-343 E 28th St 6 Unit Apartment Building $1,299,000 ($216,500/Unit) 7.22% Cap Rate Paterson, NJ 07514

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EXECUTIVE SUMMARY

Prime 6-Family Investment Property – Fully Renovated with Parking & Storage
Welcome to 339-343 E 28th Street, an exceptional turnkey 6-family building located in the heart of Paterson. Each of the six spacious units features 3 bedrooms and 1 full bathroom, all fully renovated in 2021 with modern finishes, separate HVAC systems, and individual hot water tanks—providing tenants with comfort and owners with streamlined utility management.
The property offers 8 on-site parking spaces, a clean, well-maintained basement, and dedicated storage units for each apartment—creating a unique opportunity to generate additional income. Laundry hookups can be added in the basement for even more upside potential. The roof was also replaced in 2020, offering long-term peace of mind to investors.
Whether you’re an owner-occupant or investor, this low-maintenance, high-yield asset is ideal for maximizing rental income in a strong rental market.
Highlights:
Six 3-Bed/1-Bath renovated units
Separate HVAC & hot water for each unit
New roof (2020)
8 off-street parking spots
Basement with private storage units
Laundry income potential
Fully occupied or ready-to-rent

Income and Expense - E 28th

FINANCIAL SUMMARY (ACTUAL - 2024)	ANNUAL	ANNUAL PER SF
Gross Rental Income	$129,731	$21.30
Other Income	-	-
Vacancy Loss	-	-
Effective Gross Income	$129,731	$21.30
Taxes	-	-
Operating Expenses	-	-
Total Expenses	$35,962	$5.90
Net Operating Income	$93,769	$15.39

FINANCIAL SUMMARY (ACTUAL - 2024)

Gross Rental Income
Annual	$129,731
Annual Per SF	$21.30

Other Income
Annual	-
Annual Per SF	-

Vacancy Loss
Annual	-
Annual Per SF	-

Effective Gross Income
Annual	$129,731
Annual Per SF	$21.30

Taxes
Annual	-
Annual Per SF	-

Operating Expenses
Annual	-
Annual Per SF	-

Total Expenses
Annual	$35,962
Annual Per SF	$5.90

Net Operating Income
Annual	$93,769
Annual Per SF	$15.39

PROPERTY FACTS

Price	$1,299,000	Building Class	C
Price Per Unit	$216,500	Lot Size	0.17 AC
Sale Type	Investment	Building Size	6,092 SF
Cap Rate	7.22%	No. Stories	3
No. Units	6	Year Built	1960
Property Type	Multifamily	Parking Ratio	1.15/1,000 SF
Property Subtype	Apartment	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Apartment Style	Low-Rise
Zoning	R-2

Price	$1,299,000
Price Per Unit	$216,500
Sale Type	Investment
Cap Rate	7.22%
No. Units	6
Property Type	Multifamily
Property Subtype	Apartment
Apartment Style	Low-Rise
Building Class	C
Lot Size	0.17 AC
Building Size	6,092 SF
No. Stories	3
Year Built	1960
Parking Ratio	1.15/1,000 SF
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning	R-2