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474 10th Ave 7 Unit Apartment Building Offered at $2,000,000 at a 7% Cap Rate Paterson, NJ 07514
Executive Summary
Exceptional opportunity to own this well-built 7-unit apartment building constructed in 2022, offering the benefits of a 30-year tax abatement with 26 years left for lower taxes and stronger cash flow. This fully occupied property features a desirable unit mix of five 2-bedroom apartments and two 1-bedroom apartments, each designed with modern layouts. Each unit includes in-unit laundry, while tenants also enjoy the security and convenience of gated on-site parking. Ideally located with easy access to Route 20, Route 4, and Route 208, the property offers excellent commuter accessibility and proximity to shopping, dining, and everyday amenities. Whether you're a seasoned investor looking to expand your portfolio or a first-time multifamily investor seeking a turnkey asset, this newer construction building provides an attractive combination of low maintenance, strong occupancy, and tax advantages.
Property Facts
| Price | $2,000,000 | Property Type | Multifamily |
| Price Per Unit | $285,714 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Size | 6,000 SF |
| Cap Rate | 7% | No. Stories | 2 |
| No. Units | 7 | Year Built | 2022 |
| Price | $2,000,000 |
| Price Per Unit | $285,714 |
| Sale Type | Investment |
| Cap Rate | 7% |
| No. Units | 7 |
| Property Type | Multifamily |
| Apartment Style | Low-Rise |
| Building Size | 6,000 SF |
| No. Stories | 2 |
| Year Built | 2022 |
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Exceptionally walkable
90/100
Fairly drivable
50/100
Some public transit
40/100
Fairly bikeable
40/100
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474 10th Ave
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