Turnkey Multifamily Property at 60 62 Plum Street
$7,250,000
60 62 Plum Street, Paterson, NJ 07503
20
Units
300.0K
PPU
Property Description
Units
20 — PPU: 300.0K
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).
Property Details
Asset Type
MultiFamily
Year Built
2024
Lot Size
4,200 SF
Neighborhood
South Paterson
Submarket
Paterson
ZIP
07503
Listing Type
sale
Net Operating Income (NOI)
$0
Debt Service Coverage Ratio (DSCR)
0.00x
Cap Rate
0.00%
Cash Flow (Annual)
-$412,424
Cash-on-Cash Return
-22.75%
Monthly Debt Service
$34,369
Annual Debt Service
$412,424
View on Map
Address
60 62 Plum Street
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Paterson MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale
No investors found in this market.
