523 Park Ave
Paterson City, NJ 07504
Price: $799,000
GSMLS: 4036074Type: Multi-Family
Style: 3-Three Story
Total Units: 3
Beds: 10
Baths: 3 Full
Garage: No
Year Built: 1940
Acres: 0.04
Property Tax: $4,972
Description
Location, Location, Location! Exceptional investment opportunity on a highly visible corner lot at Park Avenue and East 33rd Street. This mixed-use property features two spacious residential units, each offering 5 bedrooms and 1 full bath, providing tremendous rental income potential. The first floor consists of a large vacant commercial space that previously operated as a laundromat, offering endless possibilities for redevelopment, owner occupancy, or potential business use. Buyers are encouraged to perform their own due diligence regarding permitted uses and any prior grandfathered approvals.The entire property is delivered vacant, making it ideal for investors, business owners, or owner-occupants seeking flexibility and value-add potential.Conveniently located near schools, parks, shopping, public transportation, and major highways. A rare opportunity to acquire a prominent corner property with substantial upside in one of Paterson's most desirable locations. Property being sold strictly as-is.
General Info
Style:
3-Three Story
SqFt Building:
n/a
Total Rooms:
15
Basement:
Yes - Unfinished
Interior:
Smoke Detector
Roof:
Composition Shingle
Exterior:
Aluminum Siding
Lot Size:
25X71
Lot Desc:
Corner, Level Lot
Parking
Garage Capacity:
No
Description:
On-Street Parking
Parking:
On-Street Parking
Spaces Available:
n/a
Unit 1
Bedrooms:
n/a
Bathrooms:
n/a
Total Rooms:
1
Room Description:
See Remarks
Levels:
1
Square Foot:
n/a
Fireplaces:
n/a
Appliances:
Smoke Detector
Utilities:
Owner Pays Water
Handicap:
No
Unit 2
Bedrooms:
5
Bathrooms:
1
Total Rooms:
7
Room Description:
Bedrooms, Eat-In 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
Handicap:
No
Unit 3
Bedrooms:
5
Bathrooms:
1
Total Rooms:
7
Room Description:
Bedrooms, Eat-In 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
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:
2 Units
Heating Fuel:
Electric, Gas-Natural
Cooling:
None
Water Heater:
Gas
Water:
Public Water
Sewer:
Public Sewer
Utilities:
All Underground, Gas In Street
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:
$799,000
Tax Amount:
$4,972
Land Assessment:
$118,100
Build. Assessment:
$568,900
Total Assessment:
$687,000
Tax Rate:
5.34
Tax Year:
2025
Listing Information
MLS ID:
4036074
List Date:
06-22-2026
Days On Market:
2
Listing Broker:
REALTY EMPIRE, LLC
Listing Agent:
Domingo Mendez
Request More Information
Shawn and Diane Fox
RE/MAX American Dream
3108 Route 10 West
Denville, NJ 07834
Call: (973) 277-7853
Web: DrakesvilleCondos.com
