100 Carroll StPaterson, NJ 07501

Property Details for 100 Carroll St

Year built

2019

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional 41-unit apartment building in Paterson, New Jersey, presents a compelling investment opportunity. Constructed in 2019 and fully renovated the same year, this Class B property boasts a strong 9.30% capitalization rate. The building comprises 40 residential units and one commercial space, offering diverse income streams. Convenient onsite parking is available for residents, along with added amenities such as a laundry room and a fitness center. The property features a five-story building, providing ample living space. An attractive feature is the assumable debt at a favorable 3.43% interest rate, contributing to a significant cash-on-cash return of 9.3% based on the asking price and true underwriting. Located at 100 Carroll Street, Paterson, NJ 07501, this turnkey investment is ready for immediate ownership and income generation. The property's modern construction and desirable amenities ensure strong tenant occupancy and consistent rental income. This is a rare opportunity to acquire a well-maintained, high-performing multifamily asset with significant upside potential in a growing market. Detailed financial information is available upon request.

Location Insight

City

Paterson

County

Passaic

State

New Jersey

Latitude

40.9208

Longitude

-74.162

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