116 Belmont Ave, Paterson, NJ 07522
Local realty services provided by:Better Homes and Gardens Real Estate Elite
116 Belmont Ave,Paterson City, NJ 07522
$785,000
- 9 Beds
- 3 Baths
- - sq. ft.
- Multi-family
- Active
Listed by: guido barrantes
Office: promise land realty973-253-7330
MLS#:3969680
Source:NJ_GSMLS
Price summary
- Price:$785,000
About this home
This was a mixed-use property with a laundromat business operating on the first floor, but the previous owner removed all of the equipment. Gas, electric, water, security system, and drainage connections have been installed, with capacity for up to 20 washers and 20 dryers. A new central A/C and heating system has also been installed on the first floor, the building also features two recently renovated apartments on the second and third floors (see details in the unit information section). The driveway, siding, and roof are all brand new, you have to see this property in person to truly appreciate the many recent improvements. Due to the first-floor vacancy, the previous buyers were unable to secure financing. As a result, the seller is only accepting cash offers with proof of funds. Conventional financing may be considered with at least a 50% down payment and a pre-approved loan letter. Buyers should check with their lender before moving forward. "BETTER SAFE THAN SORRY" This property represents an outstanding investment opportunity with significant income potential. GOOD NEWS...!!! THE PROPERTY HAS ALREADY BEEN APPRAISED AT $800,000, SO THERE IS NO RISK OF GOING FOR THE FULL ASKING PRICE...!!!...
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Home facts
- Year built:1950
- Listing ID #:3969680
- Added:327 day(s) ago
- Updated:August 14, 2026 at 02:22 PM
Rooms and interior
- Bedrooms:9
- Total bathrooms:3
- Full bathrooms:3
- Half bathrooms:1
- Rooms Total:16
- Basement Description:Basement, Full
Heating and cooling
- Cooling:Central Air, Wall A/C Unit(s)
- Heating:3 Units, Radiators - Hot Water
Structure and exterior
- Roof:Asphalt Shingle
- Year built:1950
- Lot area:0.1 Acres
- Lot Features:Level Lot
- Architectural Style:3-Three Story
- Construction Materials:Brick, Vinyl Siding
- Exterior Features:Metal Fence, Wood Fence
Utilities
- Water:Public Water
- Sewer:Public Sewer
Finances and disclosures
- Price:$785,000
- Tax amount:$14,291 (2024)
Features and amenities
- Amenities:Carbon Monoxide Detector, Fire Extinguisher, Security System, Smoke Detector
Parking
- Parking description:Blacktop Driveway
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