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- LoopNet Team
49-53 Mercer st
Paterson, NJ 07524
Land For Sale
·
0.17 AC
PROPERTY FACTS
DESCRIPTION
APPROVED BUILDING WITH 10 UNIT PROJECT with potential annual income of $250,000 and possible tax abatement from the City of Paterson possibly for 10-30 years. An investment of less than $1MM, you can purchase the land that has approvals for a ten unit multi family building. The building has been approved for a total of six two bedroom units of 910SF, four one bedroom units of 652 SF all situated above 19 parking spaces. The building will have a laundry room that can yield additional monthly income, a community room and second floor terrace for the tenants enjoyment adding to the building's appeal. Currently, the property has a two family which can stay rented at the time of purchase and can be yielding income while waiting for the shovel to hit the ground.The current home has 2 Bedrooms on the First Floor and 3 Bedrooms on the 2nd floor. There is also a Fin Basement with a Bonus Room and Separate Entrance. Owner Occupied and 2nd Unit is Vacant. Building plans, Resolutions and additional information will be provided upon request.
PROPERTY TAXES
| Parcel Number | 08-03006-0000-00020 | Improvements Assessment | $0 |
| Land Assessment | $7,900 | Total Assessment | $7,900 |
PROPERTY TAXES
