37-39 Mill St, Paterson City, 07501

Pending

Under Contract

37-39 Mill St

Paterson City, 07501

$1,200,000

Pending

Under Contract

Commercial

Built in 1940

Welcome to an exceptional investment opportunity in the heart of Paterson's thriving business district! This mixed-use property comprises two buildings at 37-39 and 41 Mill St, complemented by an additional lot at 7 Elm St. Currently, the property boasts a lucrative Day Care facility at 37-41 Mill St, generating a monthly rental income of $6000. The residential units include a spacious 3-bedroom, 1.5-bath apartment at $1360, two 2-bedroom units at 41 Mill St priced at $1110 and $1500, and a 2-bedroom unit on the third floor at $1050. All units feature separate utilities, with tenants responsible for water, heat, and electricity. The owner covers sewer payments, excluding the Day Care facility, which manages its own expenses. The sale includes the lot at 7 Elm St, utilized by the Day Care. Apartments are on a month-to-month basis, except for the Day Care, this property offers a stable income stream. According to the seller, the Day Care contributes to a portion of tax increases. Seize this golden opportunity for a sound investment with promising returns!

3920603

MLSⓇ ID

August 25, 2024

Listed

December 31, 2024

Updated

Map

37-39 Mill St
Paterson City, 07501

Interior Features

Total Stories: 1
Fireplace: No
Cooling: Yes
Cooling Description: Central Air
Heating: No

Exterior/Building Features

Lot Size: 0.1 Acres

Other Property Details

Taxes: $17,086
Tax Frequency: Annually
Days on Market: 40
Garage: No
Parking: On Street
View: No
County: Passaic
Water Source: Public
Pool: No
Zoning: Commercial

Listing History

Date	Event	Price
10/5/2024	Pending	—

Courtesy of REALTY ONE GROUP LEGEND with JOHNNY RODRIGUEZ,
Listing Contact: 9737720660

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