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339-343 E 28th St 6 Unit Apartment Building $1,779,253 CAD ($296,542 CAD/Unit) 7.22% Cap Rate Paterson, NJ 07514
Executive Summary
Prime 6-Family Investment Property – Fully Renovated with Parking & Storage
Welcome to 339-343 E 28th Street, an exceptional turnkey 6-family building located in the heart of Paterson. Each of the six spacious units features 3 bedrooms and 1 full bathroom, all fully renovated in 2021 with modern finishes, separate HVAC systems, and individual hot water tanks—providing tenants with comfort and owners with streamlined utility management.
The property offers 8 on-site parking spaces, a clean, well-maintained basement, and dedicated storage units for each apartment—creating a unique opportunity to generate additional income. Laundry hookups can be added in the basement for even more upside potential. The roof was also replaced in 2020, offering long-term peace of mind to investors.
Whether you’re an owner-occupant or investor, this low-maintenance, high-yield asset is ideal for maximizing rental income in a strong rental market.
Highlights:
Six 3-Bed/1-Bath renovated units
Separate HVAC & hot water for each unit
New roof (2020)
8 off-street parking spots
Basement with private storage units
Laundry income potential
Fully occupied or ready-to-rent
Welcome to 339-343 E 28th Street, an exceptional turnkey 6-family building located in the heart of Paterson. Each of the six spacious units features 3 bedrooms and 1 full bathroom, all fully renovated in 2021 with modern finishes, separate HVAC systems, and individual hot water tanks—providing tenants with comfort and owners with streamlined utility management.
The property offers 8 on-site parking spaces, a clean, well-maintained basement, and dedicated storage units for each apartment—creating a unique opportunity to generate additional income. Laundry hookups can be added in the basement for even more upside potential. The roof was also replaced in 2020, offering long-term peace of mind to investors.
Whether you’re an owner-occupant or investor, this low-maintenance, high-yield asset is ideal for maximizing rental income in a strong rental market.
Highlights:
Six 3-Bed/1-Bath renovated units
Separate HVAC & hot water for each unit
New roof (2020)
8 off-street parking spots
Basement with private storage units
Laundry income potential
Fully occupied or ready-to-rent
Financial Summary (Actual - 2024) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$177,694
|
$29.17
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$177,694
|
$29.17
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$49,258
|
$8.09
|
| Net Operating Income |
$128,436
|
$21.08
|
Financial Summary (Actual - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $177,694 |
| Annual Per SF | $29.17 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $177,694 |
| Annual Per SF | $29.17 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $49,258 |
| Annual Per SF | $8.09 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $128,436 |
| Annual Per SF | $21.08 |
Property Facts
| Price | $1,779,253 CAD | Building Class | C |
| Price Per Unit | $296,542 CAD | Lot Size | 0.17 AC |
| Sale Type | Investment | Building Size | 6,092 SF |
| Cap Rate | 7.22% | No. Stories | 3 |
| No. Units | 6 | Year Built | 1960 |
| Property Type | Multifamily | Parking Ratio | 1.15/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | R-2 | ||
| Price | $1,779,253 CAD |
| Price Per Unit | $296,542 CAD |
| Sale Type | Investment |
| Cap Rate | 7.22% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 6,092 SF |
| No. Stories | 3 |
| Year Built | 1960 |
| Parking Ratio | 1.15/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R-2 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+1 | 6 | - | - |
1 1
Very walkable
80/100
Fairly drivable
50/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 08-08301-0000-00031 | Improvements Assessment | $472,814 CAD (2025) |
| Land Assessment | $102,714 CAD (2025) | Total Assessment | $575,528 CAD (2025) |
Property Taxes
Parcel Number
08-08301-0000-00031
Land Assessment
$102,714 CAD (2025)
Improvements Assessment
$472,814 CAD (2025)
Total Assessment
$575,528 CAD (2025)
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339-343 E 28th St
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