166 8Th StPassaic, NJ 07055

Property Details for 166 8Th St

Year built

1940

Lot size

0.06 AC

Property size (Sq ft)

9,999 SF

Property type

Other apartment buildings

Property subtype

Residential income properties

Description

This exceptional investment opportunity presents a six-unit multifamily property located at 166 8th Street, Unit 6, in the desirable city of Passaic, New Jersey. The property sits on a 0.06-acre lot and boasts a substantial 9,999 square feet of living space, spread across six individual units. This presents a significant opportunity for investors seeking strong rental income. The property's current configuration offers a mix of renovated and unrenovated units, providing immediate income and potential for value appreciation through further upgrades. One unit is currently vacant, having recently undergone painting and refreshing, ready for immediate occupancy and rental income generation. Another unit has been completely renovated, including the installation of a new in-unit laundry facility, enhancing its appeal to prospective tenants and commanding higher rental rates. The existing units demonstrate a solid foundation for continued rental income, with the potential for increased profitability through strategic renovations and lease management in the remaining units. The property's location in Passaic, NJ, offers convenient access to local amenities, transportation, and a strong rental market, making it an attractive investment for both seasoned and aspiring real estate investors. The asking price of $1,300,000 reflects the property's significant potential for return on investment.

Location Insight

City

Passaic

County

Passaic

State

New Jersey

Latitude

40.8621

Longitude

-74.1104

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].