For Multi Family

116 Belmont Ave,Paterson City, NJ 07522-3101

February 9, 2026

THIS IS A MIXED-USE PROPERTY. THERE WAS A LAUNDRYMAT OPERATING ON THE FIRST FLOOR, BUT THE MACHINES WERE REMOVED. EVERYTHING IS NOW READY TO HOOK UP 20 WASHERS AND 20 DRYERS. NEW CENTRAL AC/HEAT INSTALLED. THIS IS AN OPPORTUNITY FOR SOMEONE WHO WOULD LIKE TO START A LUCRATIVE BUSINESS. ALSO FEATURES 2 NICELY KEPT APARTMENTS ON THE SECOND AND THIRD FLOORS. (SEE DETAILS IN UNIT INFORMATION SECTION). THE DRIVEWAY, THE SIDING, AND THE ROOF ARE NEW. YOU HAVE TO SEE TO APPRECIATE SO MANY IMPROVEMENTS RECENTLY DONE. TAKE ADVANTAGE OF THIS HUGE PRICE REDUCTION…!!! DUE TO FIRST FLOOR VACANCY, MORTGAGE COMPANIES ARE ASKING AT LEAST 30% DOWN PAYMENT. THEREFORE, THE SELLER IS ONLY ACCEPTING CASH OR CONVENTIONAL OFFERS WITH 30%DOWN PAYMENT.

Property ID:PT-27776525-AXZR

Offer Type:For Multi Family

Property Type:Multi-Family

Price: 785,000 $

Bedrooms:9

Year Built:1970

Listing Details

Status: Active

Location

County: Passaic

Lotsize: 45X100

Lot Identifier: 8

Lot Description: Level Lot

Lot Identifier: 8

Home Details

Open Parking: 6

Basement: Yes

Basmnt/Desc: Yes - Full, Unfinished

Acreage: 0.10

Total Baths: 3.10

Unit Style: 3-Three Story

Number of Units: 3

Rooms: 16

Easement/Desc: Unknown

Exterior Description: Vinyl Siding

Roof Description: Asphalt Shingle

Possesion: 0-30 days

Unit 1 Appliances/Equipment: Carbon Monoxide Detector, Smoke Detector

Unit 1 Levels: 1

Unit 1 Rooms: 3

Unit 1 Baths: 1.0

Unit 1 Owner/Tenant Pays: Tenant Pays Electric, Tenant Pays Gas, Tenant Pays Heat, Tenant Pays Water

Unit 1 Handicap: No

Unit 1 Lease Expire: 2025-06-13

Unit 1 SqFt: 999

Unit 2 Appliances/Equipment: Carbon Monoxide Detector, Range/Oven - Gas, Smoke Detector

Unit 2 Levels: 2

Unit 2 Rooms: 7

Unit 2 Beds: 5

Unit 2 Baths: 1.0

Unit 2 Owner/Tenant Pays: Owner Pays Water, Tenant Pays Electric, Tenant Pays Gas, Tenant Pays Heat

Unit 2 Handicap: No

Unit 2 Lease Expire: 2026-04-01

Unit 2 SqFt: 999

Unit 2 Rent: 2500

Unit 2 Room Description: Bedrooms, Kitchen, Living Room

Unit 2 Security Deposit: 2500

Unit 3 Appliances/Equipment: Carbon Monoxide Detector, Range/Oven - Gas, Smoke Detector

Unit 3 Levels: 3

Unit 3 Rooms: 6

Unit 3 Beds: 4

Unit 3 Baths: 1.0

Unit 3 Owner/Tenant Pays: Owner Pays Water, Tenant Pays Electric, Tenant Pays Gas, Tenant Pays Heat

Unit 3 Handicap: No

Unit 3 Lease Expire: 2025-06-13

Unit 3 SqFt: 999

Unit 3 Rent: 3000

Unit 3 Room Description: Bedrooms, Kitchen, Living Room

Unit 3 Security Deposit: 2400

Garage Description: None

Block Identifier: 422

County Number: 25

Town Number: 2508

YB/Desc: 1970 - Approximate

Easement: Unknown

Parking/Driveway Description: Blacktop

Block Identifier: 422

County Number: 25

Town Number: 2508

Possession: 0-30 days

Taxes, Fees & Assessments

Gross Operating Income: 9999

Net Operating Income: 9999

Warranty: No

Tax ID For Property: 2508-00422-0000-00008-0000-

Tax Amount: $14,291.00

Tax Year: 2024

Tax Rate: 5.095%

Tax Rate Year: 2024

Farm Assessment: No

Land Assessment: $67,500.00

Building Assessment: $213,000.00

Total Assessment: $280,500.00

FHA Age Restricted: No

Utilities

Water Heater: Electric, Gas

Heat Source: Electric, Gas-Natural

Heat System: 3 Units, Radiators - Hot Water

Cool System: Window A/C(s)

Water: Public Water

Sewer: Public Sewer

Utilities: Electric

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+01-123-4567

Listing Details

116 Belmont Ave,Paterson City, NJ 07522-3101

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