7
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$1,250,000
Est. payment /mo
3,484 Sqft Lot
New
97 Jefferson St Passaic City, NJ 07055
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Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 4035509
Year Built 1930
Annual Tax Amount $18,096
Tax Year 2025
Lot Size 3,484 Sqft
Property Description
An exceptional, turnkey cash-flow opportunity in the heart of Passaic, this 18-room rooming house is fully licensed by the New Jersey Department of Community Affairs (NJDCA), offering an investor immediate scale in a high-demand rental market.The asset was completely stabilized during a massive, top-to-bottom $500,000+ total renovation in 2019. This down-to-the-studs modernization encompassed all-new heating, electrical, and plumbing systems, alongside a new roof, windows, siding, flooring, and structural stairs. This entirely updated infrastructure ensures strict regulatory compliance while significantly lowering projected capital expenditures and operational maintenance for years to come.Optimized across three distinct living levels, the building features an efficient, high-density layout: First Floor: 5 rooms, Second Floor: 5 rooms, Third Floor: 8 rooms. Each floor is equipped with its own shared bathroom and a dedicated kitchenette area featuring a sink, countertop, and microwave. A full, unfinished basement houses the upgraded utilities and provides ample space for maintenance storage.Licensed rooming houses of this caliber and pristine physical condition are rarely available in the North Jersey market. With the heavy lifting of the renovation already complete, the next owner can focus entirely on optimizing the asset's substantial revenue potential.
Location
State NJ
County Passaic
Zoning R-3
Rooms
Basement Full, Unfinished
Interior
Heating Gas-Natural
Cooling See Remarks
Flooring See Remarks
Equipment Fire Alarm, Security System
Heat Source Gas-Natural
Exterior
Exterior Feature Vinyl Siding
Utilities Available Electric, Gas-Natural
Roof Type Asphalt Shingle
Building
Lot Description Corner
Sewer Public Sewer
Water Public Water
Others
Ownership Fee Simple
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Listed by COREY J SCHNEIDER
NEARBY SCHOOL & BUSINESS
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