Properties

Description

PRIME INVESTMENT OPPORTUNITY!! This 4-bedroom, 2-bath single-family home sits on a spacious 75x100 lot in Paterson's 1st Ward Redevelopment Zone, offering exceptional redevelopment potential. Investors and developers can fix and flip, convert to multi-family or mixed-use, subdivide or explore all of the above while taking advantage of development incentives, tax credits, and grants available for residential projects. With streamlined approvals, zoning flexibility, and funding opportunities, this property is ideal for 203k buyers, developers, and investors looking to capitalize on Paterson's ongoing revitalization and strong rental demand. Nearby infrastructure improvements, the Great Falls Lofts Project, and public-private partnerships further enhance long-term appreciation potential. Recent renovations to the home have been completed, but the house is being sold as-is, with the buyer responsible for obtaining the Certificate of Occupancy and fire certifications. Conveniently located near Downtown Paterson, major highways, and public transit, this property offers unmatched accessibility in a rapidly growing market. FHA 203K / Cash / Hard Money Financing Only

Features

  • Heating System : Baseboard - Hotwater
  • Cooling System : Window A/c(s)
  • Basement
  • Basement Description: Unfinished
  • Kitchen : Center Island, Pantry, Separate Dining Area, Country Kitchen
  • Fireplace : See Remarks
  • Roof Deck : Asphalt Shingle, See Remarks
  • Parking Description: None, On-Street Parking
  • Furnished : Wood, Carpeting, Laminate
  • Interior Features: Carbon Monoxide Detector, Smoke Detector
  • Tax Assessed Valuation: 161200
  • Sewer: Public Sewer
  • Style: Colonial
  • Water: Public Water

Appliances

  • Appliances Description: Carbon Monoxide Detector, See Remarks
  • Utilities: Electric, Gas-Natural
  • Internet

Additional Info

  • Office Name: COMPASS NEW JERSEY LLC
  • Office MLS ID: 550202
  • Agent ID: 300635
  • Tax: 8213
  • Tax Year: 2024
  • Application Fee: $0
  • Zoning: RP-1W

Residential

$425,000

127 N 5th St, Paterson City, *

  • SQFT 75 Acre
  • Bedroom 4
  • Bathroom 2
  • Built Year 1900

Details

  • Property Type: Residential
  • Property Sub Type: Single Family
  • Listing Type:
  • Listing ID: 5338322
  • Price: $425,000
  • Bedrooms: 4
  • Bathrooms: 2
  • Full Bathrooms: 2
  • Half Bathrooms: 0
  • Square Footage: 0 Sqft
  • Year Built: 1900
  • Year Built Description: Approximate, Unknown
  • Lot Area: 75 Acre
  • Status: Active
  • Days On Market: 0

Contact Agent

Map

Address Map

  • Country US
  • County Passaic
  • City Paterson City
  • Zipcode *
  • Subdivision: Northside
  • Street: N 5th St
  • Street Number: 127
  • Street Direction: Main St. Drive to N 5th St
  • Floor Number: 0
  • Longitude: W75° 49' 32.3''
  • Latitude: N40° 55' 42.8''
  • Internet Display Address: Yes
Property