$1,200,000
37-39 Mill ST Paterson, NJ 07501
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Listed by Johnny Rodriguez • Realty One Group Legend, Clifton • (973) 390-7319
$1,200,000
Est. payment /mo
Under Contract
37-39 Mill ST Paterson, NJ 07501
UPDATED:
10/05/2024 12:46 AM
Key Details
Property Type Commercial
Sub Type Office
Listing Status Under Contract
Purchase Type For Sale
MLS Listing ID 24027475
Style Office
Annual Tax Amount $22,871
Property Description
Welcome to an exceptional investment opportunity in the heart of Paterson's thriving business district! This mixed-use property comprises two buildings at 37-39 and 41 Mill St, complemented by an additional lot at 7 Elm St. Currently, the property boasts a lucrative Day Care facility at 37-41 Mill St, generating a monthly rental income of $6000. The residential units include a spacious 3-bedroom, 1.5-bath apartment at $1360, two 2-bedroom units at 41 Mill St priced at $1110 and $1500, and a 2-bedroom unit on the third floor at $1050. All units feature separate utilities, with tenants responsible for water, heat, and electricity. The owner covers sewer payments, excluding the Day Care facility, which manages its own expenses. The sale includes the lot at 7 Elm St, utilized by the Day Care. Apartments are on a month-to-month basis, except for the Day Care, this property offers a stable income stream. According to the seller, the Day Care contributes to a portion of tax increases.
Location
State NJ
County Passaic
Area Paterson
Building/Complex Name None
Interior
Heating Gas
Exterior
Utilities Available Sep Elec, Sep Gas
Waterfront Description None
Others
Ownership Private
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