Welcome to 488 E 18th St in Paterson, NJ! This large 3-Family home presents an incredible opportunity for both homeowners and investors. Boasting a total of 7 bedrooms and 3 bathrooms, this property is on a corner lot and offers ample space and versatility. The bedrooms are generously sized, offering comfort and privacy for all residents. Outside, you will find a driveway in the rear of the home and a backyard that can be used for relaxation and entertaining. The home's convenient location provides easy access to a variety of nearby amenities, ensuring a lifestyle of convenience and comfort. The property is located 2 miles from St. Joseph's hospital. This multi-family home is an excellent investment opportunity, offering the potential for rental income or a multi-generational living arrangement. Whether you're looking to expand your investment portfolio or searching for a spacious home, this property is a must-see. Don't miss out on the chance to own this remarkable multi-family home in a desirable location.
Attention Investors and Owner Occupants! Discover this beautifully updated 2-family property, a true gem that promises both comfort and opportunity. Each unit offers 3 spacious bedrooms, 1 full bathroom, and an inviting open kitchen concept designed for modern living. The first-floor unit is vacant and ready to move in, complete with a fully finished basement with separate entrance, perfect for added space and functionality. The second unit is also renovated, tenant-occupied, and features the same layout as the first unit. Ample space for owner occupant or a fantastic investment opportunity. With over five parking spaces and a convenient driveway, this home is as practical as it is appealing. A rare find " don't miss out on this fantastic opportunity! PROPERTY IS BEING SOLD IN AS-IS CONDITION.
This property has a great rent roll to make any purchaser happy with its return on investment. The one-family home has a rent of $2,430.00, The rear apt is rented for $2,300, The restaurant rent is $2,100, and the rear apt behind the restaurant is $2,200.00. The listing is being sold as a 4-unit property with the address of 100,102,104 3rd Ave Paterson. The total taxes for the property is $19,620.00 for all the units. The 4 garages have a total rent of $2,175.00 per month. THE CAP RATE IS CLOSE TO 11%.
The median home value in Paterson, NJ is $391,600. This is lower than the county median home value of $447,000. The national median home value is $338,100. The average price of homes sold in Paterson, NJ is $391,600. Approximately 24.68% of Paterson homes are owned, compared to 69.35% rented, while 5.97% are vacant. Paterson real estate listings include condos, townhomes, and single family homes for sale. Commercial properties are also available. If you see a property you’re interested in, contact a Paterson real estate agent to arrange a tour today!
Paterson, New Jersey 07514 has a population of 157,927. Paterson 07514 is less family-centric than the surrounding county with 25.76% of the households containing married families with children. The county average for households married with children is 29.96%.
The median household income in Paterson, New Jersey 07514 is $48,540. The median household income for the surrounding county is $78,386 compared to the national median of $69,021. The median age of people living in Paterson 07514 is 33.1 years.
The average high temperature in July is 85.3 degrees, with an average low temperature in January of 21.3 degrees. The average rainfall is approximately 48.9 inches per year, with 25.1 inches of snow per year.