Listing Details

247 Hope Ave AKA 251,Passaic City, NJ 07055-6803

  • March 12, 2026

Description

Discover the Possibilities on an Oversized Lot. Unlock exceptional potential with this oversized 75 x 125 lot located in a residential neighborhood, featuring a very large two-family home generating approximately $7,000 in gross monthly rental income. Collect strong cash flow while you explore future opportunities possible subdivision -(see attached licensed appraisal for lot 37.5 x 100) or redevelopment – making this an ideal prospect for investors, builders, and visionaries. The existing two-family is being sold strictly as-is and any future development will require the necessary approvals. With its generous lot size and desirable setting, the possibilities are wide-open for those ready to create something special. Bonus: The seller is willing to offer owner financing, adding flexibility and making this a rare opportunity to bring your project vision to life. A unique chance to combine income today with potential for tomorrow don’t miss it.

Details

Last Updated On: March 12th, 2026 at 6:34 pm
Property ID:PT-31455342-AXZR
Offer Type:For Multi Family
Property Type:Multi-Family
Price: 849,999 $
Bedrooms:8
Year Built:2025

Additional Details

Listing Details

Status: Active

Location

County: Passaic
Lotsize: 75X125
Lot Identifier: 27
Lot Identifier: 27

Home Details

Open Parking: 0
Basement: Yes
Basmnt/Desc: Yes - Finished
Acreage: 0.22
Total Baths: 4.00
Unit Style: Under/Over
Number of Units: 2
Rooms: 19
Easement/Desc: Unknown
Possesion: Flexible
Unit 1 Appliances/Equipment: Range/Oven - Gas, Refrigerator
Unit 1 Levels: 2
Unit 1 Rooms: 10
Unit 1 Beds: 3
Unit 1 Baths: 2.0
Unit 1 Owner/Tenant Pays: Owner Pays Water, Tenant Pays Electric, Tenant Pays Gas, Tenant Pays Heat
Unit 1 Handicap: No
Unit 1 Rent: 3500
Unit 1 Room Description: Bedrooms, Eat-In Kitchen, Living Room, Storage
Unit 1 Security Deposit: 3500
Unit 2 Appliances/Equipment: Range/Oven - Gas, Refrigerator
Unit 2 Levels: 2
Unit 2 Rooms: 9
Unit 2 Beds: 5
Unit 2 Baths: 2.0
Unit 2 Owner/Tenant Pays: Owner Pays Water, Tenant Pays Electric, Tenant Pays Gas, Tenant Pays Heat
Unit 2 Handicap: No
Unit 2 Rent: 3500
Unit 2 Room Description: Bedrooms, Eat-In Kitchen, Living Room
Unit 2 Security Deposit: 3500
Block Identifier: 4098
County Number: 25
Town Number: 2507
YB/Desc: 2025 - Approximate
Easement: Unknown
Block Identifier: 4098
County Number: 25
Town Number: 2507
Possession: Flexible

Utilities

Water Heater: Gas
Heat Source: Gas-Natural
Heat System: 2 Units, Forced Hot Air
Cool System: 2 Units, Central Air
Water: Public Water
Sewer: Public Sewer
Utilities: Electric, Gas-Natural

Taxes, Fees & Assessments

Tax ID For Property: 2507-04098-0000-00027-0000-
Tax Amount: $15,011.00
Tax Year: 2024
Tax Rate: 4.123%
Tax Rate Year: 2025
Land Assessment: $92,000.00
Building Assessment: $272,100.00
Total Assessment: $364,100.00
FHA Age Restricted: No

Statistics

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