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62 Lafayette St 7 Unit Apartment Building $1,435,000 ($205,000/Unit) 9.05% Cap Rate Paterson, NJ 07501
Investment Highlights
- High cap return
- Multiple parking
- Corner building
- Mny upgrades
Executive Summary
Income producing 7 unit corner property located at 62-64 Lafayette Street in Paterson, set on an oversized 50x100 lot with on site parking. This fully detached three story building offers a strong unit mix of one and three bedroom apartments, appealing to a wide range of tenants. All units have been renovated in recent years, providing solid in place income with minimal immediate capital needs. Tenants pay their own utilities, helping maintain efficient operating expenses. Currently delivering over an 9% cap rate with additional upside potential, this property presents a strong investment opportunity. Conveniently located near public transportation, shopping, schools and much more!
Financial Summary (Actual - 2025) 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 - 2025) 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 | $1,435,000 | Building Class | C |
| Price Per Unit | $205,000 | Lot Size | 0.12 AC |
| Sale Type | Investment | Building Size | 7,476 SF |
| Cap Rate | 9.05% | Average Occupancy | 86% |
| No. Units | 7 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1915 |
| Property Subtype | Apartment | Parking Ratio | 0.67/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Zoning | R-2 | ||
| Price | $1,435,000 |
| Price Per Unit | $205,000 |
| Sale Type | Investment |
| Cap Rate | 9.05% |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 7,476 SF |
| Average Occupancy | 86% |
| No. Stories | 3 |
| Year Built | 1915 |
| Parking Ratio | 0.67/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R-2 |
Amenities
Unit Amenities
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | - | - |
| 1+1 | 2 | - | - |
| 3+1 | 3 | - | - |
| 4+2 | 1 | - | - |
1 1
Very walkable
80/100
Moderately drivable
70/100
Some public transit
40/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 08-03109-0000-00001 | Total Assessment | $300,800 |
| Land Assessment | $107,500 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $193,300 | Tax Year | 2025 |
Property Taxes
Parcel Number
08-03109-0000-00001
Land Assessment
$107,500
Improvements Assessment
$193,300
Total Assessment
$300,800
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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62 Lafayette St
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