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28940929
28940930

60-62 Plum St, Paterson, NJ 07503 For Sale

GA
(NY) 10401211305, (FL) SL3479299 (+1)
KW Commercial Clifton
Listed by KW Commercial Clifton
$6,495,000
215 days on market
Updated 13 days ago
Opportunity zone

7.2% CAP RATE! 20-Units! 30yr Tax Abatement! No Rent Control

Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 20,000
Units 20
Cap Rate 7.16%
NOI $464,933
Occupancy 100%
Price per SqFt $325
Class A
Buildings 1
Occupancy Date 12/16/2025

Newly Constructed | 20-Unit Multifamily | No Rent Control | 30yr Tax Abatement | 100% Occupied

Marketing description

Welcome to a TRUE TURNKEY opportunity! A newly constructed 20-unit residential building, located 2 blocks away from St. Joseph's Children's Hospital! 3 blocks away from access to Route-80! Only 20 minutes away from Manhattan (via GW Bridge). 60-62 Plum St, was built from the ground up, and completed in January 2025, and comes with the added benefits of a very low maintenance, allowing the owner/landlord, to self manage the property, if chosen too. Also the BIG BONUS....a (30) YEAR TAX ABATEMENT, with (29) YEARS REMAINING!!! And with NO RENT CONTROL RESTRICTIONS, this property is perfectly positioned, to keep the expenses low with increasing the rent roll yearly. The perfect pairing for any investor's formula. Contact today, to set up an in-person tour, and/or get a google link to extensive photos & video walkthrough tours of each unit (prior to occupancy).

Listing Contacts

GA
(NY) 10401211305, (FL) SL3479299 (+1)
KW Commercial Clifton
Listed by KW Commercial Clifton

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$464,933.00
$38,744.42/mo

Valuation Metrics

0
DSCR
7.16%
Cap Rate
7.16%
ROI

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