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8-Unit Multi-Family | Prime Passaic 48 8th Ave 8 Unit Apartment Building $1,599,000 ($199,875/Unit) 6.75% Cap Rate Passaic, NJ 07055
Investment Highlights
- (8) Unit Multi-family - 4 (2) Bedrooms; (1) Bathroom & 4 (1) Bedroom; (1) Bathroom
- Located in Vibrant Passaic, NJ
- Additional Value in Laundry and Storage in Basement
- Lot Size: 4,901 SqFt
- Corner Property off Main Avenu
- Value Add Property - Units undervalued and Prime for Market Rate Pricing
Executive Summary
Introducing a prime investment opportunity located at 48 8th Avenue, Passaic, NJ, 07055. This 6,256 SF, 8-unit multifamily property, strategically situated in the Northern NJ area, offers a solid investment in a desirable location. Originally built in 1980 and meticulously renovated in 2025, this value-add property boasts 100% occupancy and a well-maintained, all-brick structure. With a mix of (2) bedroom and (1) bedroom units, the building also features a fenced-in courtyard, offering an ideal living environment for tenants. With additional on-site amenities including laundry and storage in the basement, this property presents an exceptional opportunity for a savvy Low-Rise/Garden investor.
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,599,000 | Apartment Style | Low-Rise |
| Price Per Unit | $199,875 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.11 AC |
| Cap Rate | 6.75% | Building Size | 6,256 SF |
| No. Units | 8 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built/Renovated | 1980/2025 |
| Zoning | OR-1A - R-3 | ||
| Price | $1,599,000 |
| Price Per Unit | $199,875 |
| Sale Type | Investment |
| Cap Rate | 6.75% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 6,256 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1980/2025 |
| Zoning | OR-1A - R-3 |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Cable Ready
- Dishwasher
- Storage Space
- Crown Molding
- Eat-in Kitchen
- Kitchen
- Refrigerator
- Yard
- Basement
- Dining Room
- Family Room
- Lawn
Site Amenities
- Courtyard
- Fenced Lot
- Laundry Facilities
- Grill
- Smoke Free
- Storage Space
- Bicycle Storage
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | $1,225 | 500 |
| 2+1 | 4 | $1,413 | 700 |
Walk Score®
Very Walkable (77)
Property Taxes
| Parcel Number | 07-03223-01-00001 | Total Assessment | $550,000 (2025) |
| Land Assessment | $74,500 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $475,500 (2025) | Tax Year | 2024 |
Property Taxes
Parcel Number
07-03223-01-00001
Land Assessment
$74,500 (2025)
Improvements Assessment
$475,500 (2025)
Total Assessment
$550,000 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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8-Unit Multi-Family | Prime Passaic | 48 8th Ave
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