116 Belmont Ave, Paterson, NJ 07522-3101

Beds
9
Baths
4

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Listed byPROMISE LAND REALTY
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Overview

This was a mixed-use property with a laundromat business operating on the first floor, but the previous owner removed all of the equipment. Gas, electric, water, security system, and drainage connections have been installed, with capacity for up to 20 washers and 20 dryers. A new central A/C and heating system has also been installed on the first floor.The building also features two recently renovated apartments on the second and third floors (see details in the unit information section). The driveway, siding, and roof are all brand new.You have to see this property in person to truly appreciate the many recent improvements.Due to the first-floor vacancy, the previous buyers were unable to secure financing. As a result, the seller is only accepting cash offers with proof of funds. Conventional financing may be considered with at least a 50% down payment and a pre-approval letter. Buyers should check with their lender before moving forward. "BETTER SAFE THAN SORRY" This property represents an outstanding investment opportunity with significant income potential.

Location

Full feature list

Basic info

Property type
Multi-family
Number of bedrooms
9
Number of bathrooms
4
Lot size (acres)
0.10
Year built
1950

Interior features

Basement
Yes

Utilities

Cooling
Central Air
Sewer
Public Sewer
Water
Public Water

Taxes

Tax Annual Amount (2024)
$14,291

Public schools

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Sourced from: Garden State MLS MLS®#: 3969680 Last checked:

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