220 Passaic Ave
Belleville Twp, NJ 07109

$2,300,000

Sq. Ft.: 5,700
Type: Commercial
Listing #3970108
This is an outstanding investment opportunity in the heart of Belleville! 220 Passaic Avenue is a 6-Unit Multifamily Property, located on a high-visibility corner lot and in a high-demand rental market. This 5,700 SqFt building sits on corner lot and features a desirable mix unit of two 2-bedroom units and four 1-bedroom units. The property was comprehensively renovated approximately two years ago, with updated interiors, modern finishes, and security system. Each unit includes in-unit laundry and private storage, offering comfort and convenience for tenants. Additional upgrades include security system covering hallways and exterior areas. Tenants benefit from 9 assigned parking spaces and access to a fully finished basement that adds functional space and long-term potential. The property is 100% occupied, delivering reliable income, strong tenant retention, and low vacancy rate. Located near Route 21, the Garden State Parkway, and NJ Transit. Just minutes from Newark, Bloomfield, and major employment centers this asset is also within walking distance of shopping, schools, and a public park. This is a rare chance to acquire a fully stabilized, recently upgraded multifamily asset in a sought-after Essex County submarket.
Property Features
Location Information
County: Essex
Latitude: 40.807513912797305
Longitude: -74.15909953415394
Property Location: Residential Area
Directions: Harrison Ave to Passaic Ave
Interior Features
Heating: Forced Hot Air, See Remarks
Heating Fuel: Electric, Gas-Natural
Cooling: Central Air
Basement Description: Finished, Full, Storage
Has Basement: Yes
Tenant Pays: Cable T.V., Electric, Gas, Heat, Hot Water
Total Number of Units: 6
Exterior Features
Stories: 3
Construction: Brick/Block
Siding: Brick/Block
Roof: See Remarks
Water: Public Water
Utilities: Electric, Gas-Natural
Parking Description: Assigned, Off-Street Parking
Loading Docks: 0
Lot Size in Acres: 0.13
Zoning: Residential
Building Total Area (Sq. Ft.): 5,700
Additional Information
Property Type: COM
Property SubType: Apartment Complex
Year Built: 1928
Status: Active
Owner Pays: Maintenance-Common Area, Maintenance-Lawn, Repairs, Sewer, Snow Removal, Trash Removal, Water
Tax Amt / Rate / Rate Yr / Yr: 20169 / 4.033 / 2024 / 2024
Expenses: 3226291
Equipment Available: Appliances, Fire Alarm, Fixtures, Smoke Detector
Documents Available: Survey
Gross Income: 149,760


$ per month
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Monthly Tax: $
Monthly Insurance: $
Term
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Down Payment
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List Price:
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Based on a fully amortized fixed rate loan. Ask your agent for the tax rates in your area. Insurance estimate is based on an average cost, your final premium cost will be determined by the type of coverage you select. This program only provides an estimate.
Seller's Representative:
UNITED REAL ESTATE
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