For Multi Family

123 Belmont Ave,Paterson City, NJ 07522-1157

December 20, 2025

Excellent Investment Opportunity! Renovated 4-family property sitting on a rare double lot, offering tremendous potential and strong income-producing value. This well-maintained building features updated units, on-site parking, and plenty of outdoor space with room for future possibilities. Ideal for investors looking to expand their portfolio or a first-time home buyer seeking to live in one unit while generating rental income from the others. A solid, turnkey property with upside potential?don?t miss this opportunity!

Property ID:PT-20598369-AXZR

Offer Type:For Multi Family

Property Type:Multi-Family

Price: 949,000 $

Bedrooms:9

Year Built:1888

Listing Details

Status: Active

Location

County: Passaic

Lotsize: 50X115

Lot Identifier: 8

Home Details

Open Parking: 7

Basement: Yes

Renovated: 2020

Basmnt/Desc: Yes - Finished

Acreage: 0.13

Total Baths: 5.00

Unit Style: Fourplex

Number of Units: 4

Rooms: 21

Easement/Desc: Unknown

Exterior Description: Vinyl Siding

Roof Description: Asphalt Shingle

Possesion: 0-30

Unit 1 Levels: 1

Unit 1 Rooms: 3

Unit 1 Beds: 1

Unit 1 Baths: 1.0

Unit 1 Owner/Tenant Pays: Owner Pays Water, Tenant Pays Electric, Tenant Pays Gas

Unit 1 Handicap: No

Unit 1 Room Description: Bedrooms, Dining Room, Family Room, Kitchen, Living/Dining Room, Master Bedroom

Unit 2 Levels: 2

Unit 2 Rooms: 6

Unit 2 Beds: 3

Unit 2 Baths: 1.0

Unit 2 Owner/Tenant Pays: Owner Pays Water, Tenant Pays Electric, Tenant Pays Gas

Unit 2 Handicap: No

Unit 2 Room Description: Bedrooms, Dining Room, Family Room, Kitchen, Living/Dining Room, Master Bedroom

Unit 3 Levels: 2

Unit 3 Rooms: 7

Unit 3 Beds: 3

Unit 3 Baths: 2.0

Unit 3 Owner/Tenant Pays: Owner Pays Water, Tenant Pays Electric, Tenant Pays Gas

Unit 3 Handicap: No

Unit 3 Room Description: Bedrooms, Dining Room, Family Room, Kitchen, Living/Dining Room, Master Bedroom

Unit 4 Levels: 2

Unit 4 Rooms: 5

Unit 4 Beds: 2

Unit 4 Baths: 1.0

Unit 4 Owner/Tenant Pays: Owner Pays Water, Tenant Pays Electric, Tenant Pays Gas

Unit 4 Handicap: No

Unit 4 Room Description: Bedrooms, Dining Room, Family Room, Kitchen, Living/Dining Room, Master Bedroom

Block Identifier: 706

County Number: 25

Town Number: 2508

YB/Desc: 1888 - Renovated

Easement: Unknown

Parking/Driveway Description: Blacktop, Driveway-Exclusive

Block Identifier: 706

County Number: 25

Town Number: 2508

Possession: 0-30

Taxes, Fees & Assessments

Gross Operating Income: 8275

Net Operating Income: 6675

Tax ID For Property: 2508-00706-0000-00008-0000-

Tax Amount: $10,398.00

Tax Year: 2024

Tax Rate: 5.095%

Tax Rate Year: 2025

Land Assessment: $41,300.00

Building Assessment: $162,800.00

Total Assessment: $204,100.00

FHA Age Restricted: No

Utilities

Heat Source: Electric

Heat System: 4+ Units, Baseboard - Hotwater

Cool System: 4+ Units

Water: Public Water

Sewer: Public Sewer

Utilities: Electric, Gas-Natural

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Listing Details

123 Belmont Ave,Paterson City, NJ 07522-1157

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