20-Unit Multifamily Building For Sale
$6,500,000
62 Plum Street, Paterson, NJ 07503
7.03
Cap Rate
456,703
NOI
Details:
Highlights:
- 2024 Building: Newly constructed asset with modern systems and finishes
- 100% Occupied: Strong in-place cash flow
- 30-Year Tax Abatement / Pilot: Significant tax savings for investors
- No Rent Control: Full flexibility on rental pricing
- Opportunity Zone: Additional federal tax incentive potential
- Turnkey / Low Maintenance Asset: Move-in ready, minimal capex required
Description:
KSR has been exclusively retained to represent 62 Plum Street, a brand new 20-unit multifamily building located in Paterson, NJ 07503.
The property is 100% occupied and benefits from a 30-Year Tax Abatement / PILOT with no rent control. The building features 19 on-site parking spaces with additional parking income potential, new building systems and finishes, and is situated within an Opportunity Zone, offering a turnkey, low-maintenance investment opportunity.
The asset provides strong access to Route 80 and is located minutes from St. Joseph's University Medical Center, offering direct connectivity to major employment centers and the broader metro area. Located 0.5 miles from the Paterson Train Station (NJ Transit Main Line) and minutes from Route 80, the site provides direct connectivity to Manhattan and the broader metro area.
Documents:
| Title | ||
|---|---|---|
| Offering Memorandum |
Location
Gallery
