127-131 5th Street
Paterson, NJ 07522
#25004981
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 benefiting from development incentives, tax credits, and grants 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 growth and strong rental demand. Nearby infrastructure improvements, the Great Falls Lofts Project, and public-private partnerships further enhance long-term appreciation potential. Recent renovations have been completed, but the home is sold as-is, with the buyer responsible for obtaining the Certificate of Occupancy and fire certifications. Conveniently located in a rapidly growing market.
Property Details
- Date ListedFebruary 15, 2025
- Property TypePurchase
- Original List Price$425,000
- MLS #25004981
- Property SubtypeColonial
- MLS #25004981
- Cost425000
Location
Legal
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All information deemed reliable but not guaranteed. Last date updated: 01/09/2023
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Last Updated: . Source: NJMLS
Listing Courtesy
Listing Agent: 463372 (#), Phone: (551) 200-7590, Email: cynt4homes@gmail.com
Listing Office: Compass New Jersey, LLC-Montclair (#57140)
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