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$425,000

Est. payment - /mo

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4 BD

2 BA

1,800 SqFt

New

127-131 N 5th St Paterson City, NJ 07522

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Samir Genid

sgenid@genidgroup.com +1(973) 265-9233

UPDATED:

02/20/2025 01:26 AM

Key Details

Property Type Single Family Home

Sub Type Single Family

Listing Status Active

Purchase Type For Sale

Square Footage 1,800 sqft

Price per Sqft $236

Subdivision Northside

MLS Listing ID 3946176

Style Colonial

Bedrooms 4

Full Baths 2

HOA Y/N No

Year Built 1900

Annual Tax Amount $8,213

Tax Year 2024

Lot Size 7,405 Sqft

Property Sub-Type Single Family

Property Description

PRIME INVESTMENT OPPORTUNITY!! This 4-bedroom, 2-bath single-family home sits on a spacious 75x100 lot in Paterson's 1st Ward Redevelopment Zone, offering exceptional redevelopment potential. Investors and developers can fix and flip, convert to multi-family or mixed-use, subdivide or explore all of the above while taking advantage of development incentives, tax credits, and grants available for residential projects. With streamlined approvals, zoning flexibility, and funding opportunities, this property is ideal for 203k buyers, developers, and investors looking to capitalize on Paterson's ongoing revitalization and strong rental demand. Nearby infrastructure improvements, the Great Falls Lofts Project, and public-private partnerships further enhance long-term appreciation potential. Recent renovations to the home have been completed, but the house is being sold as-is, with the buyer responsible for obtaining the Certificate of Occupancy and fire certifications. Conveniently located near Downtown Paterson, major highways, and public transit, this property offers unmatched accessibility in a rapidly growing market. FHA 203K / Cash / Hard Money Financing Only

Location

State NJ

County Passaic

Zoning RP-1W

Rooms

Basement Unfinished

Dining Room Formal Dining Room

Kitchen Center Island, Country Kitchen, Pantry, Separate Dining Area

Interior

Interior Features Carbon Monoxide Detector, Smoke Detector

Heating Gas-Natural

Cooling Window A/C(s)

Flooring Carpeting, Laminate, Wood

Fireplaces Type See Remarks

Heat Source Gas-Natural

Exterior

Exterior Feature Aluminum Siding

Parking Features None, On-Street Parking

Utilities Available Electric, Gas-Natural

Roof Type Asphalt Shingle, See Remarks

Building

Sewer Public Sewer

Water Public Water

Architectural Style Colonial

Schools

Elementary Schools Number 12

Middle Schools Number 12

High Schools Jfk

Others

Senior Community No

Ownership Fee Simple

Listed by COMPASS NEW JERSEY LLC

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Samir Genid

Team Leader | License ID: 1541900

+1(973) 265-9233

127-131 N 5th St Paterson City, NJ 07522

Samir Genid

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

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127-131 N 5th St