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Eric DeSilva

eric.desilva@exprealty.com +1(973) 542-9302

$ 1,400,000

Est. payment -/mo

Save

Active

127 Parker Ave Passaic City, NJ 07055

3,792 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 3,792 sqft

Price per Sqft $369

MLS Listing ID 3980553

Year Built 1900

Annual Tax Amount $8,509

Tax Year 2024

Lot Size 3,049 Sqft

Property Description

Fully occupied and recently updated, this 6-unit commercial apartment building delivers immediate cash flow with room for growth. Featuring five spacious 2-bedroom units and one 1-bedroom unit, plus six basement storage units for additional rental income, this property is designed for strong returns. Five of the six apartments have been renovated, attracting quality tenants and reducing maintenance costs. Located in the heart of Passaic with easy access to Route 21, Route 3, I-80, and NYC, the property sits in a high-demand rental market with minimal vacancy. Tenants enjoy proximity to major retailers like Home Depot, grocery stores, dining, public transportation, and essential services. With a current 6.7% cap rate and bonus income potential from storage rentals, opportunities like this are rare in today's market. Act quickly " this income-producing asset will move fast.

Location

State NJ

County Passaic

Zoning R-3

Rooms

Basement Bilco-Style Door

Interior

Heating Gas-Natural

Cooling No Cool

Equipment Appliances, Smoke Detector, Storage Area(s)

Heat Source Gas-Natural

Exterior

Exterior Feature Vinyl Siding

Utilities Available Electric, Gas In Street

Roof Type Flat

Building

Story 3

Sewer Public Sewer

Water Public Water

Others

Ownership Fee Simple

Listed by PROMINENT PROPERTIES SIR

Nearby Locations

SCHOOLSPROPERTIES

Elementary Schools 20

9

Catherine E. Doyle Elementary School

Public | PK - 3
8

Roosevelt School #7

Public | KG - 5
8

Jefferson Elementary School

Public | KG - 3
8

Hilltop Elementary School

Public | PK - 5
7

Alexander Hamilton Academy

Public | KG - 8
7

Spring Garden School

Public | PK - 6
7

School #3

Public | KG - 5
7

Ganter Avenue School

Public | PK - 5
7

Bergen Arts and Sciences Charter School

Public | KG - 11
7

Roosevelt Elementary School

Public | PK - 5
7

Columbus Elementary School

Public | PK - 5
7

Washington Elementary School

Public | PK - 5
7

Euclid Elementary School

Public | PK - 5
6

School #9

Public | KG - 5
6

Passaic Arts and Science Charter School

Public | KG - 7
6

Lincoln School

Public | KG - 3
6

Union School

Public | 4 - 8
6

McKenzie School

Public | PK - 4
6

Woodrow Wilson School #5

Public | KG - 5
6

Washington School

Public | KG - 3

Middle Schools 14

9

Thomas Jefferson Middle School

Public | 6 - 8
6

Saddle Brook Middle/High School

Public | 7 - 12
5

Memorial Middle School

Public | 6 - 8
5

Wallington Junior/Senior High School

Public | 7 - 12
4

Christopher Columbus Middle School

Public | 6 - 8
4

Wood-Ridge Junior/Senior High School

Public | 7 - 12
3

New Roberto Clemente

Public | 6 - 8
3

Lincoln Middle School # 4

Public | 7 - 8
3

Garfield Middle School

Public | 6 - 8
0

Garfield Auxiliary Middle School/High School

Public | 6 - 12
0

Essex High School

Public | 7 - 12
0

High Point School of Bergen County

Private | 8 - 12
0

Lodi Middle School High School

Public | 6 - 12
0

Gretta R. Ostrovsky Middle School

Public | 6 - 8

High Schools 19

7

Rutherford High School

Public | 9 - 12
5

Memorial Senior High School

Public | 9 - 12
5

Lodi High School

Public | 9 - 12
4

Henry P. Becton Regional High School

Public | 9 - 12
3

Clifton High School

Public | 9 - 12
2

Passaic High School # 12

Public | 9 - 12
2

Garfield High School

Public | 9 - 12
1

School of Information Technology

Public | 9 - 12
1

School of Culinary Arts Hospitality and Tourism

Public | 9 - 12
1

School of Government & Public Administration

Public | 9 - 12
1

Students Transitioning and Achieving Real Success

Public | 9 - 12
0

Mesivta of Clifton

Private | 9 - 12
0

Mesivta of North Jersey

Private | 9 - 12
0

Bais Yaakov of Passaic High School for Girls

Private | 9 - 12
0

Hope Academy

Public | 9 - 12
0

Mesivta Tiferes Rav Zvi Aryeh Zemel

Private | 9 - 12
0

St Mary High School

Private | 9 - 12
0

Immaculate Conception High School

Private | 9 - 12
0

Sage Day at Rochelle Park

Private | 9 - 12

School and business data provided by Attom Data.