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262 PASSAIC ST
PASSAIC, NJ 07055

$849,900 
  • -- Beds
  • 2/0 Baths
  • Commercial | MixedUse,SeeRem
  • Active
262 PASSAIC ST, PASSAIC - 381342369
262 PASSAIC ST, PASSAIC - 381342370
262 PASSAIC ST, PASSAIC - 381342371
262 PASSAIC ST, PASSAIC - 381342372
262 PASSAIC ST, PASSAIC - 381342373

Property Description for 262 PASSAIC ST, PASSAIC NJ 07055

Up for sale is this legal 11 Unit Rooming House. Income from the 11 units is $6,880, Barber shop 500sqft $1,025, Bar 2000sqft $2100. 3 garages ($375 monthly)Total Monthly Income $10,380. Extra Income Opportunity!!! State Approved 16x40 Billboard on the roof of building. $2K-3K potential extra monthly income. Engineer plans for billboard come with the sale. Break down below. Unit1 $600 Unit2 $600 Unit3 $650 Unit4 $700 Unit5 $500 Unit6 1bdrm $850 Unit7 1bdrm Supers Unit $400 Unit8 $650 Unit9 $580 Unit10 $750 Unit11 $650 Barber Shop $1025 Bar $2100 Garages $375 Total Income $124,560 (plus a potential extra 24k-36k from billboard) ExpensesTaxes $16k,Gas/Electric $7200, Ins. $4500, Water/Sewer $3200. Total Expenses $30,900. 10.13Cap Rate. With extra 24k from billboard12.72Cap with extra 36k from billboard14.02

  • Property Class: Commercial
  • Listing Status: Active
  • City: PASSAIC
  • State: NJ
  • Zip: 07055
  • Area: Passaic
  • County: Passaic
  • Class: Commercial
  • Property Subtype: MixedUse,SeeRem
  • Approx Lot Size: 0.110
  • Stories: 3
  • Baths Total: 2
  • Baths (F/H): 2/0
  • Garage: 3
  • Year Built: 1940
  • Listing#: 3394809
  • List Date: 6/8/2017
  • Last updated on: 12/11/2017

Additional Information for 262 PASSAIC ST, PASSAIC NJ 07055

  • Tax Assessed Value: 528000.00
  • Lot Size Dim: 38X129
  • Exterior: Aluminum
  • Utilities Present: Yes
  • Cooling Present: Yes
  • Heating Fuel: Gasnatur
  • Security Features: Fire Alarm
  • Other Parking: Seerem
  • Parking Total: 3.00
  • Basement Type: Unfinished
Courtesy of RE/MAX EXECUTIVE GROUP
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