About 116 Belmont Ave
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-approval 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.
Features of 116 Belmont Ave
| MLS® # | 3969680 |
|---|---|
| Price | $785,000 |
| Bedrooms | 9 |
| Bathrooms | 4.00 |
| Full Baths | 3 |
| Half Baths | 1 |
| Acres | 0.10 |
| Year Built | 1950 |
| Type | Multi Family |
| Style | 3-Three Story |
| Status | Active |
Community Information
| Address | 116 Belmont Ave |
|---|---|
| City | Paterson City |
| County | Passaic |
| State | NJ |
| Zip Code | 07522-3101 |
Amenities
| Utilities | Electric |
|---|---|
| Parking Spaces | 6 |
| Parking | Blacktop |
| Garages | None |
| Has Pool | No |
Interior
| Interior Features | Carbon Monoxide Detector, Fire Extinguisher, Security System, See Remarks, Smoke Detector |
|---|---|
| Heating | Electric, Gas-Natural |
| Fireplace | No |
| Has Basement | Yes |
| Basement | Full |
Exterior
| Exterior | Brick, Vinyl Siding |
|---|---|
| Exterior Features | Metal Fence, Wood Fence |
| Roof | Asphalt Shingle |
Additional Information
| Date Listed | June 16th, 2025 |
|---|
Listing Details
| Office | PROMISE LAND REALTY |
|---|---|
| Contact Info | 973-253-7330 |