127 Parker Ave

Passaic, NJ 07055
Attorney Review
$1,400,000
Square Ft.
Total Land 3,119
Square Ft.
Total Building 3,792

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Property Highlights

Fully occupied and recently updated, this 6-unit commercial apartment building delivers immediate cash flow with room for growth. Featuring five spacious 2-bedroom units and one 1-bedroom unit, plus six basement storage units for additional rental income, this property is designed for strong returns. Five of the six apartments have been renovated, attracting quality tenants and reducing maintenance costs. Located in the heart of Passaic with easy access to Route 21, Route 3, I-80, and NYC, the property sits in a high-demand rental market with minimal vacancy. Tenants enjoy proximity to major retailers like Home Depot, grocery stores, dining, public transportation, and essential services. With a current 6.7% cap rate and bonus income potential from storage rentals, opportunities like this are rare in today’s market. Act quickly – this income-producing asset will move fast.

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Passaic

Passaic offers a vibrant urban-suburban lifestyle with a rich cultural community, affordable housing, and unbeatable access to New York City. Known for its diverse neighborhoods, historic charm, and convenient location near major highways and NJ Transit, Passaic provides a perfect blend of city energy and suburban comfort. With local parks, schools, and shopping just minutes away, Passaic real estate appeals to buyers seeking value, accessibility, and a lively lifestyle in Northern New Jersey.

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