337 Straight Street, Paterson, NJ, USA

The fifteen-unit property consists of twelve residential apartments and three ground floor retail units. The property was likely built in the late 1800’s and is constructed of cast iron and brick. Separate entrances for apartments allow for quiet hallways and little foot traffic in common areas allowing a peaceful place to live for tenants.

Two of the ground floor retail tenants have been in place for 8+ years and the third is on a lease with increases. Ownership has replaced the back half of the roof within the last 12 months and front half of the roof within the last 4 years. This property allows for investors to come in and capitalize on upside in rents while owning an asset that requires minimal management.