1. New Jersey
2. Paterson
3. 331 Straight Street

331 Straight Street, Paterson, NJ 07501

Property Description

Welcome to this fully renovated rooming house, offering a prime investment with an 8.9% cap rate. Located near Downtown Paterson, shopping, restaurants, and public transit, this 13-unit building includes both residential and commercial spaces. It features seven rooms with 2 shared bathrooms, four rooms with their own private bathrooms, a 3-bedroom apartment, and a commercial unit, providing diverse income streams. Extensive renovations in 2020 include updated plumbing, electrical, heating, and bathrooms, attracting premium tenants and minimizing future costs. A live-in superintendent makes sure the building is clean, manages daily operations, ensuring tenant satisfaction and reducing overhead. With strong rental demand and easy access to transportation, this property offers both reliable cash flow and long-term appreciation which makes it a low-maintenance, high-yield investment. Private Financing potentially available.

Listing Status:

Active

Date Added:

March 27, 2025 at 05:00AM

Listing Office:

United Real Estate : 888-501-6953

Listing Agent:

Sergio Limonta : (973) 296-6264

MLS ID:

25009707

Interior

• Heating: Gas

Location

Utilities

Financial

This listing courtesy of Sergio Limonta, United Real Estate