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199-207 W Broadway, Patterson 199 W Broadway 13 Unit Apartment Building $5,834,400 CAD ($448,800 CAD/Unit) 3.22% Cap Rate Paterson, NJ 07522
Investment Highlights
- Newly Constucted
- Tax Abatement
- Private parking lot
- W/D in each unit
Executive Summary
Newly constructed, fully rented mixed-use investment opportunity offering immediate cash flow and long-term upside. This modern building features 12 residential units, including 3 one-bedroom/one-bath apartments and 9 two-bedroom/two-bath apartments, plus 1 ground-level retail space, all currently leased. Each residential unit offers separate heating and cooling systems along with in-unit washer/dryers. Private on-site parking adds strong tenant appeal and long-term value. In addition to the immediate cash flow, the property benefits from time remaining on a 30-year tax abatement. A well-maintained, fully stabilized investment property offering immediate income with the benefit of long-term tax advantages.
Property Facts
| Price | $5,834,400 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $448,800 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 0.11 AC |
| Cap Rate | 3.22% | Building Size | 13,318 SF |
| Gross Rent Multiplier | 13 | Average Occupancy | 100% |
| No. Units | 13 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 2022 |
| Property Subtype | Apartment | Parking Ratio | 0.33/1,000 SF |
| Zoning | B-3 - Store and Residential | ||
| Price | $5,834,400 CAD |
| Price Per Unit | $448,800 CAD |
| Sale Type | Investment |
| Cap Rate | 3.22% |
| Gross Rent Multiplier | 13 |
| No. Units | 13 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.11 AC |
| Building Size | 13,318 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 2022 |
| Parking Ratio | 0.33/1,000 SF |
| Zoning | B-3 - Store and Residential |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 3 | - | - |
| 2+2 | 9 | - | - |
1 1
Exceptionally walkable
90/100
Moderately drivable
70/100
Some public transit
50/100
Fairly bikeable
50/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $23,903 CAD | |
| Land Assessment | $180,369 CAD | Total Assessment | $204,272 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$180,369 CAD
Improvements Assessment
$23,903 CAD
Total Assessment
$204,272 CAD
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Presented by
Haven Realty
199-207 W Broadway, Patterson | 199 W Broadway
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