House Description

This is an outstanding investment opportunity in the heart of Belleville! 220 Passaic Avenue is a 6-Unit Multifamily Property, located on a high-visibility corner lot and in a high-demand rental market. This 5,700 SqFt building sits on corner lot and features a desirable mix unit of two 2-bedroom units and four 1-bedroom units. The property was comprehensively renovated approximately two years ago, with updated interiors, modern finishes, and security system. Each unit includes in-unit laundry and private storage, offering comfort and convenience for tenants. Additional upgrades include security system covering hallways and exterior areas. Tenants benefit from 9 assigned parking spaces and access to a fully finished basement that adds functional space and long-term potential. The property is 100% occupied, delivering reliable income, strong tenant retention, and low vacancy rate. Located near Route 21, the Garden State Parkway, and NJ Transit. Just minutes from Newark, Bloomfield, and major employment centers this asset is also within walking distance of shopping, schools, and a public park. This is a rare chance to acquire a fully stabilized, recently upgraded multifamily asset in a sought-after Essex County submarket.

Highlights

Listed by ANDREIA F. MELNIKOFF , OP UNITED REAL ESTATE , 888-501-6953. Garden State MLS

Property Type

Commercial Sale

Lot/Acreage

0.13

Year Built

1928

County

Essex

Listing ID

3970108

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Payment Breakdown

Principal Interest

$10,178

Taxes

$1,681

Home Price

$2,000,000

Home Price

Loan Details

30 yrs

6.562%

Interest Rate

Loan Type

Down Payment

20%

$400,000

Down Payment

Down Payment %

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Monthly Price:

$10,178.42

Principal

Taxes

	Principal	Taxes	HOA	Total
Monthly	$10,178.42	$1,680.75	$0.00	$11,859.17
Yearly	$122,140.98	$20,169.00	$0.00	$142,309.98
Total	$3,664,229.52	$605,070.00	$0.00	$4,269,299.52