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Carroll Street Apartments 47-49 Carroll St

16 Unit Block of Flats £3,843,609 (£240,226/Unit) 7.19% Net Initial Yield Paterson, NJ 07501

Executive Summary

Welcome to an exceptional investment opportunity at 47-49 Carroll Street in Paterson, NJ. This impressive, fully renovated, and turn-key 16-unit property offers a total of 13,056 square feet of living space, set on a 5,000 square foot lot. Each unit features a comfortable 2-bedroom, 1-bathroom layout, and the property is fully occupied, ensuring immediate rental income. Residents enjoy the convenience of on-site laundry facilities in the basement. Benefit from a 30-year tax abatement and take advantage of the property's location within an opportunity zone, aligning with Paterson's exciting revitalization efforts. An income and expense report is available upon request, providing transparency and insight into this smart investment. Don't miss your chance to be part of Paterson's promising future!

Property Facts

Price £3,843,609
Price Per Unit £240,226
Sale Type Investment
Net Initial Yield 7.19%
No. Units 16
Property Type Residential
Property Subtype Apartment
Apartment Style Mid Rise
Building Class C
Lot Size 0.11 AC
Building Size 13,000 SF
Average Occupancy 100%
Number of Floors 4
Year Built/Renovated 1940/2023

Unit Mix Information

Description No. Units Avg. Rent.Mo SF
2+1 16 £1,569 -
Walk Score ®
Very Walkable (77)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
08-03211-0000-00046
Land Assessment
£84,324
Improvements Assessment
£857,595
Total Assessment
£941,920

zoning

Zoning Code R-2
R-2
  • Listing ID: 33842672

  • Date on Market: 12/11/2024

  • Last Updated:

  • Address: 47-49 Carroll St, Paterson, NJ 07501

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