122 16Th Ave, Paterson City, NJ 07501
Passaic County
Key Facts
Description
Attention Investors & Developers: Bring your vision to this high-upside 6-unit mixed-use property situated in a desirable RA-2 zoning redevelopment district [1.1], positioning you for potential tax advantages and massive future development potential [1.1]. The property features two commercial storefronts seamlessly combined into one spacious commercial space perfectly setup as a restaurant kitchen with extensive fridge/freezer storage alongside four residential units, including two newly renovated luxury 3-bedroom apartments, one freshly refreshed 2-bedroom apartment, and a final 2-bedroom unit. Delivered as a blank canvas value-add asset, this property is the perfect opportunity for a developer or investor looking to optimize the space from day one and build for the future.
Property Information
Property Type
Residential Income
Sub-Type
Multi Family
Style
See Remarks
Year Built
1925
Living Area
3,513 sq ft
Lot Size
0.03 acres
Days on Market
2
MLS® Listing#
4034158
Property Features
Heating
Basement
Parking
Construction
Roof
Sewer
Water Source
Financial Details
Annual Taxes
$20,481
Tax year 2025
Assessed Value
$665,400
Parcel Number
2508-04319-0000-00012-0000-
Directions
Turn right onto Market St. from Memorial Drive, then left onto 16th Ave. Carrall St. will be on your right at the corner.
Affordability Calculator
$250,000
Estimated monthly payment
$6,653/mo
Principal $1,000,000 · Est. interest $1,395,089 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Paterson City, NJ
- $614,245
- Median Listing Price
- 48
- Median Days on Market
- 1,390
- Median Sq Ft
- $404
- Median Price / Sq Ft
- 3,172
- Active Listings
- This home’s price is 104% above the area median.
- Its price per sq ft is 12% below the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in Paterson City, NJ.
Location
Points of Interest in Paterson City, NJ
Showing the Paterson City area map.
Nearby Schools
Number 11 Elementary School
Elementary · 0.1 mi away
Edward W. Kilpatrick
Elementary · 0.1 mi away
Eastside High School
Secondary · 0.2 mi away
Roberto Clemente Elementary School
Elementary · 0.2 mi away
Alexander Hamilton Academy
School · 0.2 mi away
Paterson Public School
Elementary · 0.3 mi away
PPS
School · 0.3 mi away
School 15
Elementary · 0.3 mi away
Panther Academy
School · 0.3 mi away
New Roberto Clemente
Secondary · 0.3 mi away
Dale Avenue Elementary School
Elementary · 0.4 mi away
Norman S Weir Public School
Elementary · 0.4 mi away
Academy of Performing Arts
School · 0.5 mi away
Al Huda School
School · 0.5 mi away
Silk City 2000 Adult School
School · 0.5 mi away
Eastside High School
Secondary · 0.5 mi away
Paterson Pre-Collegiate Academy
Secondary · 0.5 mi away
Philip's Academy Charter School of Paterson
Elementary · 0.5 mi away
Paterson Public School
Elementary · 0.5 mi away
Harp Academy
School · 0.6 mi away
Commute Calculator
Nearby Homes
Similar Homes Nearby
Similar Home Values
Comparable nearby listings and their asking prices.
| Address | Price | Beds | Baths | Sq Ft |
|---|---|---|---|---|
| 673 E 25Th St, Paterson City, NJ | $875,000 | 9 | 3 | — |
| 350 New St, Newark City, NJ | $889,000 | 9 | 6 | — |
| 414 MONASTERY PL, Union City, NJ | $899,000 | 11 | — | — |
| 858 S 16Th St, Newark City, NJ | $899,000 | 9 | 8 | 29,997 |
| 55 Hawkins St, Newark City, NJ | $899,000 | 11 | 4 | 4,800 |
| 136 Dewey St, Newark City, NJ | $899,000 | 10 | 6 | — |
Moving Cost Estimate
EXIT Agents in Paterson City
Listing Courtesy: KELLER WILLIAMS MID-TOWN DIRECT - 9737625400