40 Manchester Ave
Paterson City, NJ 07502
Price: $860,000
GSMLS: 4041532Type: Multi-Family
Style: 3-Three Story
Total Units: 3
Beds: 10
Baths: 4 Full
Garage: No
Year Built: 1940
Acres: 0.11
Property Tax: $18,149
Description
Excellent investment opportunity with great income potential! This property features two additional units that can help cover the mortgage payment, making it an ideal choice for both investors and owner-occupants looking to generate cash flow, or just live there.The property offers 10 spacious parking spaces, a highly valuable feature for residents and tenants. Additionally, it boasts a fully finished basement with excellent potential to generate extra income (subject to corresponding municipal approvals) or to be used as a large storage area.The building is up to date with all local and state inspections, with no pending inspections, providing peace of mind to the buyer. The second-floor apartment is currently vacant and will remain so to facilitate the purchase, offering the flexibility to occupy it immediately or select your own tenant and maximize the rental potential.The property is easy to show. Buyers with a pre-qualification letter or proof of funds can coordinate a same-day showing. Don't miss out on this excellent opportunity to acquire a property with multiple income streams and great appreciation potential!
General Info
Style:
3-Three Story
SqFt Building:
n/a
Total Rooms:
20
Basement:
Yes - Finished, Full
Interior:
Carbon Monoxide Detector, Fire Extinguisher, Marble Floors, Parquet Floors, Smoke Detector
Roof:
Asphalt Shingle
Exterior:
Vinyl Siding
Lot Size:
50X100
Lot Desc:
Level Lot
Parking
Garage Capacity:
No
Description:
None
Parking:
1 Car Width, Blacktop
Spaces Available:
12
Unit 1
Bedrooms:
3
Bathrooms:
1
Total Rooms:
6
Room Description:
Bedrooms, Kitchen, Living/Dining Room
Levels:
1
Square Foot:
n/a
Fireplaces:
n/a
Appliances:
Carbon Monoxide Detector, Range/Oven - Gas, Refrigerator, Smoke Detector
Utilities:
Owner Pays Water, Tenant Pays Electric, Tenant Pays Gas, Tenant Pays Heat
Handicap:
No
Unit 2
Bedrooms:
3
Bathrooms:
1
Total Rooms:
6
Room Description:
Bedrooms, Kitchen, Living/Dining Room
Levels:
2
Square Foot:
n/a
Fireplaces:
n/a
Appliances:
Carbon Monoxide Detector, Range/Oven - Gas, Refrigerator, Smoke Detector
Utilities:
Owner Pays Water, Tenant Pays Electric, Tenant Pays Gas, Tenant Pays Heat
Handicap:
No
Unit 3
Bedrooms:
3
Bathrooms:
1
Total Rooms:
5
Room Description:
Bedrooms, Kitchen, Living/Dining Room
Levels:
3
Square Foot:
n/a
Fireplaces:
n/a
Appliances:
Carbon Monoxide Detector, Range/Oven - Gas, Refrigerator, Smoke Detector
Utilities:
Owner Pays Water, Tenant Pays Electric, Tenant Pays Gas, Tenant Pays Heat
Handicap:
No
Unit 4
Bedrooms:
n/a
Bathrooms:
n/a
Total Rooms:
n/a
Room Description:
n/a
Levels:
n/a
Square Foot:
n/a
Fireplaces:
n/a
Appliances:
n/a
Utilities:
n/a
Handicap:
n/a
Utilities
Heating:
3 Units, Baseboard - Hotwater
Heating Fuel:
Gas-Natural
Cooling:
None,WindowAC
Water Heater:
n/a
Water:
Public Water
Sewer:
Public Sewer
Utilities:
Electric, Gas-Natural
Services:
n/a
School Information
Elementary:
n/a
Middle:
n/a
High School:
n/a
Community Information
County:
Passaic
Town:
Paterson City
Neighborhood:
n/a
Financial Considerations
List Price:
$860,000
Tax Amount:
$18,149
Land Assessment:
$195,000
Build. Assessment:
$544,000
Total Assessment:
$739,000
Tax Rate:
5.34
Tax Year:
2025
Listing Information
MLS ID:
4041532
List Date:
07-17-2026
Days On Market:
0
Listing Broker:
PROMISE LAND REALTY
Listing Agent:
Guido Barrantes
Request More Information
Shawn and Diane Fox
RE/MAX American Dream
3108 Route 10 West
Denville, NJ 07834
Call: (973) 277-7853
Web: EdenLaneLiving.com
