Properties

Description

This was a mixed-use property with a laundromat business operating on the first floor, but the previous owner removed all of the equipment. Gas, electric, water, security system, and drainage connections have been installed, with capacity for up to 20 washers and 20 dryers. A new central A/C and heating system has also been installed on the first floor, the building also features two recently renovated apartments on the second and third floors (see details in the unit information section). The driveway, siding, and roof are all brand new, you have to see this property in person to truly appreciate the many recent improvements. Due to the first-floor vacancy, the previous buyers were unable to secure financing. As a result, the seller is only accepting cash offers with proof of funds. Conventional financing may be considered with at least a 50% down payment and a pre-approved loan letter. Buyers should check with their lender before moving forward. "BETTER SAFE THAN SORRY" This property represents an outstanding investment opportunity with significant income potential. GOOD NEWS...!!! THE PROPERTY HAS ALREADY BEEN APPRAISED AT $800,000, SO THERE IS NO RISK OF GOING FOR THE FULL ASKING PRICE...!!!

Features

  • Heating System : 3 Units, Radiators - Hot Water
  • Cooling System : Central Air, Window A/c(s)
  • Basement : Full
  • Roof Deck : Asphalt Shingle
  • Parking : 6
  • Parking Description: Blacktop
  • Interior Features: Carbon Monoxide Detector, Fire Extinguisher, Secur
  • Exterior Features: Metal Fence, Wood Fence
  • Lot Description: Level Lot
  • Tax Assessed Valuation: 280500
  • Sewer: Public Sewer
  • Water: Public Water

Appliances

  • Utilities: Electric
  • Internet

Additional Info

  • Office Name: PROMISE LAND REALTY
  • Office MLS ID: 1778
  • Agent ID: 250954
  • Tax: 14291
  • Tax Year: 2024
  • Application Fee: $0

Multi-Family For Sale

For Sale
$769,999

116 Belmont Ave, Paterson City, *

  • SQFT 45 Acre
  • Bedroom 9
  • Built Year 1950

Details

  • Property Type: Multi-Family
  • Listing Type: For Sale
  • Listing ID: 5364995
  • Price: $769,999
  • Bedrooms: 9
  • Bathrooms: 0
  • Half Bathrooms: 0
  • Square Footage: 0 Sqft
  • Year Built: 1950
  • Year Built Description: Approximate
  • Lot Area: 45 Acre
  • Status: Active
  • Days On Market: 428

Contact Agent

Sky Realty & Associates

Map

Address Map

  • Country US
  • County Passaic
  • City Paterson City
  • Zipcode *
  • Street: Belmont Ave
  • Street Number: 116
  • Street Direction: FROM WEST BROADWAY TO BELMONT AVE, OR FROM HALEDO
  • Floor Number: 0
  • Longitude: W75° 49' 11.1''
  • Latitude: N40° 55' 40.4''
  • Internet Display Address: Yes
Property