116 Belmont Ave, Paterson City, NJ 07522
Passaic County
Key Facts
Description
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.
Property Information
Property Type
Residential Income
Sub-Type
Multi Family
Style
3-Three Story
Year Built
1950
Stories
3
Living Area
29,997 sq ft
Lot Size
0.10 acres
Days on Market
393
MLS® Listing#
3969680
Property Features
Appliances
Cooling
Heating
Basement
Lot Features
Construction
Roof
Security
Sewer
Water Source
Financial Details
Annual Taxes
$14,291
Tax year 2024
Assessed Value
$280,500
Parcel Number
2508-00422-0000-00008-0000-
Directions
FROM WEST BROADWAY OR FROM HALEDON AVE TO NORTH 7TH TO BELMONT.
Affordability Calculator
$157,000
Estimated monthly payment
$4,178/mo
Principal $628,000 · Est. interest $876,116 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Paterson City, NJ
- $614,325
- Median Listing Price
- 48
- Median Days on Market
- 1,380
- Median Sq Ft
- $423
- Median Price / Sq Ft
- 3,231
- Active Listings
- This home’s price is 28% above the area median.
- Its price per sq ft is 94% below the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in Paterson City, NJ.
Location
Points of Interest in Paterson City, NJ
Showing the Paterson City area map.
Nearby Schools
Paterson Academy
School · 0.3 mi away
School 14
School · 0.3 mi away
Gilmore Memorial Christian Academy
School · 0.4 mi away
Learning Center Ready To Learn
School · 0.4 mi away
Boys & Girls Club
School · 0.4 mi away
Number 4 Elementary School
Elementary · 0.4 mi away
St. Gerard Majella School
Elementary · 0.5 mi away
Paterson Public Schools
School · 0.5 mi away
School 28
Elementary · 0.5 mi away
Al-Hikmah Elementary School
Elementary · 0.5 mi away
Number 12 Elementary School
Elementary · 0.5 mi away
Prospect Park School District
Elementary · 0.5 mi away
Number 1 Elementary School
Elementary · 0.5 mi away
Haledon Public School
Elementary · 0.6 mi away
Paterson Public Schools
Elementary · 0.6 mi away
School 19
Elementary · 0.7 mi away
Harp Academy
School · 0.8 mi away
Paterson Pre-Collegiate Academy
Secondary · 0.9 mi away
School 2
Elementary · 0.9 mi away
Silk City 2000 Adult School
School · 0.9 mi away
Commute Calculator
Nearby Homes
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Similar Home Values
Comparable nearby listings and their asking prices.
| Address | Price | Beds | Baths | Sq Ft |
|---|---|---|---|---|
| 63 Huntington Ter, Newark City, NJ | $549,999 | 8 | 4 | 19,998 |
| 78 16Th Ave, Paterson City, NJ | $550,000 | 8 | 3 | — |
| 333 S 19Th St 3, Newark City, NJ | $550,000 | 8 | 3 | — |
| 66 Isabella Ave, Newark City, NJ | $575,000 | 8 | 2 | — |
| 191 Kearney St, Paterson City, NJ | $589,999 | 8 | 4 | 19,998 |
| 121 Ward St, City Of Orange Twp., NJ | $595,000 | 8 | 3 | 2,800 |
Moving Cost Estimate
EXIT Agents in Paterson City
Listing Courtesy: PROMISE LAND REALTY - 9732537330