Courtesy: PROMISE LAND REALTY
973-253-7330
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-approved loan 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. GOOD NEWS...!!! THE PROPERTY HAS ALREADY BEEN APPRAISED AT $800,000, SO THERE IS NO RISK OF GOING FOR THE FULL ASKING PRICE...!!!
Paterson is located in New Jersey. Paterson, New Jersey has a population of 157,927. Paterson is less family-centric than the surrounding county with 27.19% of the households containing married families with children. The county average for households married with children is 29.96%.
The median household income in Paterson, New Jersey is $48,540. The median household income for the surrounding county is $78,386 compared to the national median of $69,021. The median age of people living in Paterson is 33.1 years.
The average high temperature in July is 85.3 degrees, with an average low temperature in January of 21.3 degrees. The average rainfall is approximately 48.9 inches per year, with 25.1 inches of snow per year.
