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Description

Fully occupied and recently updated, this 6-unit commercial apartment building delivers immediate cash flow with room for growth. Featuring five spacious 2-bedroom units and one 1-bedroom unit, plus six basement storage units for additional rental income, this property is designed for strong returns. Five of the six apartments have been renovated, attracting quality tenants and reducing maintenance costs. Located in the heart of Passaic with easy access to Route 21, Route 3, I-80, and NYC, the property sits in a high-demand rental market with minimal vacancy. Tenants enjoy proximity to major retailers like Home Depot, grocery stores, dining, public transportation, and essential services. With a current 6.7% cap rate and bonus income potential from storage rentals, opportunities like this are rare in today's market. Act quickly " this income-producing asset will move fast.

Features

Heating System : Radiators - Hot Water, Radiant - Electric
Cooling System : No Cool
Basement : Bilco-style Door
Roof Deck : Flat
Tax Assessed Valuation: 206400
Sewer: Public Sewer
Water: Public Water

Appliances

Utilities: Electric, Gas In Street
Internet

Additional Info

Office Name: PROMINENT PROPERTIES SIR
Office MLS ID: 148801
Agent ID: 289558
Tax: 8509
Tax Year: 2024
Application Fee: $0
Zoning: R-3

Commercial For Sale

For Sale

$1,400,000

127 Parker Ave, Passaic City, *

30 Acre
Built Year 1900

Details

Property Type: Commercial
Listing Type: For Sale
Listing ID: 5377346
Price: $1,400,000
Bedrooms: 0
Bathrooms: 0
Half Bathrooms: 0
Square Footage: 0 Sqft
Year Built: 1900
Year Built Description: Unknown
Lot Area: 30 Acre
Status: Active
Days On Market: 109

Contact Agent

Sky Realty & Associates

Email:

skyrealty.sec@gmail.com
Tel:

973.344.8880

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Map

Address Map

Country US
County Passaic
City Passaic City
Zipcode *
Street: Parker Ave
Street Number: 127
Street Direction: Howard Ave to Park Ave
Floor Number: 0
Longitude: W75° 52' 40.1''
Latitude: N40° 52' 19.5''
Internet Display Address: Yes