127 N 5th St
Paterson City, NJ 07522
4 beds | 2 baths | #3946176
Description
PRIME INVESTMENT OPPORTUNITY!! This 4-bedroom, 2-bath single-family home sits on a spacious 75x100 lot in Paterson's 1st Ward Redevelopment Zone, offering exceptional redevelopment potential. Investors and developers can fix and flip, convert to multi-family or mixed-use, subdivide or explore all of the above while taking advantage of development incentives, tax credits, and grants available for residential projects. With streamlined approvals, zoning flexibility, and funding opportunities, this property is ideal for 203k buyers, developers, and investors looking to capitalize on Paterson's ongoing revitalization and strong rental demand. Nearby infrastructure improvements, the Great Falls Lofts Project, and public-private partnerships further enhance long-term appreciation potential. Recent renovations to the home have been completed, but the house is being sold as-is, with the buyer responsible for obtaining the Certificate of Occupancy and fire certifications. Conveniently located near Downtown Paterson, major highways, and public transit, this property offers unmatched accessibility in a rapidly growing market. FHA 203K / Cash / Hard Money Financing Only
Property Details
- Kitchen FeaturesCenter Island, Country Kitchen, Pantry, Separate Dining Area
- InteriorCarbon Monoxide Detector, Smoke Detector
- AppliancesCarbon Monoxide Detector, See Remarks
- RoofAsphalt Shingle, See Remarks
- FloorsCarpeting, Laminate, Wood
- Parking FeaturesNone, On-Street Parking
- ParkingNone, On-Street Parking
- Utility FeaturesElectric, Gas-Natural
- HeatingBaseboard - Hotwater
- Exterior MaterialsAluminum Siding
- Property SubtypeSingle Family
- Sewer InformationPublic Sewer
- WaterPublic Water
- Fireplace DescriptionSee Remarks
- Heating SourceGas-Natural
- Basement DescriptionUnfinished
- OwnershipFee Simple
- SubdivisionNorthside
- Elementary SchoolNumber 12
- Middle SchoolNUMBER 12
- Property TypePurchase
- StyleColonial
- Structure TypeColonial
- MLS #3946176
- MLS #3946176
- Cost425000
- Year Built1900
- BasementYes
- High SchoolJFK
- Bedrooms4
- Bathrooms2
- Full Baths2
Location
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Last Updated: . Source: GSMLS
Listing Courtesy
Listing Agent: CYNTHIA LUBIN (#300635), Phone: (551) 200-7590
Listing Office: COMPASS NEW JERSEY LLC (#550202)
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