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48 Chadwick St 9 Unit Apartment Building $3,500,000 ($388,889/Unit) 6.79% Cap Rate Paterson, NJ 07503
EXECUTIVE SUMMARY
Introducing 48 Chadwick Street a luxurious, modern, and newly constructed 9 unit elevator mid-rise built in 2023, featuring all 9 upscale 2-bedroom, 2-bathroom units in a prime Paterson location. Each residence includes a primary en suite bathroom, energy efficiency GE washer/dryer, energy efficiency stainless steel GE appliances included a stainless steel Frigidaire refrigerator, and high end finishes. Fusing security and innovation, this prestige building enhancing the tenant experience with a ButterflyMX virtual doorman system and every unit is equipped with smart locks. The spacious attached parking garage adds convenience, value, and additional income, making this a highly attractive, low-maintenance investment, perfect for your investment portfolio or 1031 exchange! With strong rental demand and a 20-Year Tax Abatement, this turnkey property is a rare opportunity to secure a high-quality asset in a growing market. Request financials or book a private tour today!
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$279,000
|
$10.69
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$279,000
|
$10.69
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$41,248
|
$1.58
|
| Net Operating Income |
$237,752
|
$9.11
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $279,000 |
| Annual Per SF | $10.69 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $279,000 |
| Annual Per SF | $10.69 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $41,248 |
| Annual Per SF | $1.58 |
| Net Operating Income | |
|---|---|
| Annual | $237,752 |
| Annual Per SF | $9.11 |
PROPERTY FACTS
| Price | $3,500,000 | Building Class | B |
| Price Per Unit | $388,889 | Lot Size | 0.13 AC |
| Sale Type | Investment | Building Size | 26,100 SF |
| Cap Rate | 6.79% | No. Stories | 4 |
| No. Units | 9 | Year Built | 2023 |
| Property Type | Multifamily | Parking Ratio | 0.27/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Mid-Rise |
| Price | $3,500,000 |
| Price Per Unit | $388,889 |
| Sale Type | Investment |
| Cap Rate | 6.79% |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.13 AC |
| Building Size | 26,100 SF |
| No. Stories | 4 |
| Year Built | 2023 |
| Parking Ratio | 0.27/1,000 SF |
| Opportunity Zone |
Yes |
AMENITIES
UNIT AMENITIES
- Dishwasher
- Washer/Dryer
- Stainless Steel Appliances
1 1
Walk Score®
Very Walkable (82)
PROPERTY TAXES
| Parcel Number | 08-05505-0000-00006 | Improvements Assessment | $0 (2025) |
| Land Assessment | $27,600 (2025) | Total Assessment | $27,600 (2025) |
PROPERTY TAXES
Parcel Number
08-05505-0000-00006
Land Assessment
$27,600 (2025)
Improvements Assessment
$0 (2025)
Total Assessment
$27,600 (2025)
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48 Chadwick St
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