$1,800,000

$2,000,000 10.0%

Est. payment - /mo

5,700 SqFt

UPDATED:

Key Details

Sold Price $1,800,000

Property Type Commercial

Sub Type Commercial

Listing Status Sold

Purchase Type For Sale

Square Footage 5,700 sqft

Price per Sqft $315

MLS Listing ID 2515647R

Sold Date 08/28/26

Year Built 1928

Annual Tax Amount $20,169

Tax Year 2024

Lot Size 5,662 Sqft

Acres 0.13

Lot Dimensions 0.00 x 0.00

Property Sub-Type Commercial

Source CJMLS API

Property Description

This is an outstanding investment opportunity in the heart of Belleville! 220 Passaic Avenue is a six-unit multifamily property, fully leased, located on a high-visibility corner lot and in a high-demand rental market. This 5,700 sqf building sits on a 5,484 sqf lot and features a desirable mix unit of two 2-bedroom units and four 1-bedroom units. The property was comprehensively renovated approximately two years ago, with updated interiors, modern finishes, and security system. Each unit includes in-unit laundry and private storage, offering comfort and convenience for tenants. Additional upgrades include a full building-wide fire alarm system and a comprehensive security camera system covering hallways and exterior areas. Tenants benefit from 9 assigned parking spaces and access to a fully finished basement that adds functional space and long-term potential. The property is 100% occupied, delivering reliable income, strong tenant retention, and low vacancy rate. Located near Route 21, the Garden State Parkway, and NJ Transit. Just minutes from Newark, Bloomfield. This asset is also within short distance of shopping, schools, and a public park. This is a rare chance to acquire a fully stabilized, recently upgraded multifamily asset in a sought-after Essex County submarket.

Location

State NJ

County Essex

Community Laundry Room

Zoning Residential

Interior

Interior Features Refrigeration

Heating Zoned, Forced Air

Cooling Central Air, Ceiling Fan(s)

Flooring Concrete, Tile, Wood

Appliance Refrigeration

Heat Source Natural Gas

Exterior

Community Features Laundry Room

Utilities Available Electricity Connected, Natural Gas Connected, Separate Utilities

Roof Type See Remarks

Total Parking Spaces 9

Building

Lot Description Corner Lot

Story 3

Sewer Public Sewer

Water Public

Others

Senior Community no

Tax ID 0200435000000002

Energy Description Natural Gas

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Listed by UNITED R.E. OF NORTH JERSEY

Nearby Locations

GET MORE INFORMATION

Carolina "Cam" Campbell

+1(862) 703-9791

Carolina "Cam" Campbell License ID: 2182890

220 Passaic AVE Belleville, NJ 07109