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331 Straight St
Paterson, NJ 07501
Multifamily Property For Sale
·
13 Units
Investment Highlights
- 100% Occupied Mixed-Use Investment featuring residential & retail/office space, providing diversified income streams and stabilized cash flow.
- Strategic Northern New Jersey Location with proximity to major employment centers, transportation infrastructure, and regional commuter routes.
- Strong In-Place Cash Flow with a projected 7.6% cap rate at the asking price.
Executive Summary
Fully occupied mixed-use asset consisting of residential units and ground-floor commercial space, providing diversified income and stable cash flow.
Offered at $1,000,000, generating approximately $76,653 in NOI and a 7.6% cap rate based on current operations.
Retail tenant is secured by a long-term lease through July 2030, providing predictable income with scheduled rent increases.
Residential component consists of two SRO units and one 3-bedroom apartment, with potential income growth through future rent adjustments.
Attractive basis at approximately $225 per square foot for a stabilized mixed-use asset in Northern New Jersey.
Located in a dense urban corridor of Paterson with strong demand drivers and access to major employment centers and transportation networks.
Offered at $1,000,000, generating approximately $76,653 in NOI and a 7.6% cap rate based on current operations.
Retail tenant is secured by a long-term lease through July 2030, providing predictable income with scheduled rent increases.
Residential component consists of two SRO units and one 3-bedroom apartment, with potential income growth through future rent adjustments.
Attractive basis at approximately $225 per square foot for a stabilized mixed-use asset in Northern New Jersey.
Located in a dense urban corridor of Paterson with strong demand drivers and access to major employment centers and transportation networks.
Property Facts
| Price Per Unit | $105,966 CAD | Lot Size | 0.04 AC |
| Sale Type | Investment | Building Size | 4,442 SF |
| Cap Rate | 7.60% | Average Occupancy | 100% |
| No. Units | 13 | No. Stories | 4 |
| Property Type | Multifamily | Year Built/Renovated | 1940/2017 |
| Property Subtype | Apartment | ||
| Zoning | Commercial | ||
| Price Per Unit | $105,966 CAD |
| Sale Type | Investment |
| Cap Rate | 7.60% |
| No. Units | 13 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Lot Size | 0.04 AC |
| Building Size | 4,442 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built/Renovated | 1940/2017 |
| Zoning | Commercial |
Property Taxes
| Parcel Number | 08-06210-0000-00008 | Improvements Assessment | $1,063,852 CAD |
| Land Assessment | $125,759 CAD | Total Assessment | $1,189,612 CAD |
Property Taxes
Parcel Number
08-06210-0000-00008
Land Assessment
$125,759 CAD
Improvements Assessment
$1,063,852 CAD
Total Assessment
$1,189,612 CAD
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