Paterson, NJ 07501,37-39 Mill ST
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Listed by Johnny Rodriguez • Realty One Group Legend, Clifton • (973) 390-7319
$ 1,200,000
Est. payment | /mo

Save
$ 1,200,000
Est. payment | /mo
Save

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

New Jersey MLS (NJMLS)
agent-avatar

+1(732) 634-9100

jjelekrealty@jjelekrealty.com

117 Main Street, United States

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