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491 21St Ave Paterson City, NJ 07513
3,049 Sqft Lot
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Key Details
Property Type Single Family Home
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID 3959587
Year Built 1940
Annual Tax Amount $21,404
Tax Year 2024
Lot Size 3,049 Sqft
Property Sub-Type Mixed Use
Property Description
Welcome to 491 21st Avenue, an outstanding income-producing property offering exceptional flexibility and growth potential. This unique opportunity features two separate buildings on one lot in a high-visibility, high-traffic location within the vibrant People's Park neighborhood.The front building includes a fully-leased retail storefront currently used as a dentist office at street level and two spacious residential apartments above, ideal for consistent, diversified rental income. The rear building offers two additional residential apartments, providing even greater earning potential. Property Highlights: 8.5% cap rate and Total of 5 rental units (1 commercial + 4 residential) Strong rental history with immediate income generation, Separate entrances for all residential units, Low-maintenance exterior with brick facade, Prime high-traffic location perfect for business exposure, Close proximity to public transportation, shopping, schools, and major highways. Zoned for residential and commercial use, offering investment flexibility. With minimal operating expenses and a "turn-key setup, this property is perfect for investors seeking stable cash flow or entrepreneurs looking to live and operate a business on-site. Nothing to do but collect rents!
Location
State NJ
County Passaic
Zoning Mixed
Rooms
Basement Bilco-Style Door, Full, Unfinished
Interior
Heating Gas-Natural
Cooling No Cool
Equipment Fire Alarm, Fixtures, Smoke Detector
Heat Source Gas-Natural
Exterior
Exterior Feature Aluminum
Utilities Available Gas In Street
Roof Type Asphalt Shingle
Building
Story 3
Sewer Public Sewer
Water Public Water
Others
Ownership Fee Simple
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Listed by EXP REALTY, LLC