127-131 N 5th St new Save Request In-Person Tour Request Virtual Tour
Paterson City,NJ 07522
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