62 Lafayette St, Paterson City, NJ 07501

Property Description

Income producing 7 unit corner property located at 62-64 Lafayette Street in Paterson, set on an oversized 50x100 lot with on site parking. This fully detached three story building offers a strong unit mix of one and three bedroom apartments, appealing to a wide range of tenants. All units have been renovated in recent years, providing solid in place income with minimal immediate capital needs. Tenants pay their own utilities, helping maintain efficient operating expenses. Currently delivering over an 9% cap rate with additional upside potential, this property presents a strong investment opportunity. Conveniently located near public transportation, shopping, schools and much more!