257 Roff Ave, Palisades Park, NJ 07650

This residential income property, located at 257 Roff Ave in Palisades Park, NJ 07650, presents a notable investment opportunity. Situated in the heart of the city, the property is within walking distance to various shopping destinations, public transit options, and local schools, enhancing its appeal for residents and potential tenants. The structure is configured as a 5-family apartment building, with each of the five units designed as a one-bedroom, one-bathroom dwelling. This configuration is conducive to consistent rental demand.

The property currently generates a substantial monthly income exceeding $9,000, which translates to an annual income of $108,000. The landlord is responsible for property taxes, heating, water, and insurance expenses. A key aspect of this investment is the reliable payment history of the tenants, with all rent payments being processed directly through the bank. This operational efficiency contributes to the property's ease of maintenance and management, making it an attractive proposition for investors seeking a stable income stream with minimal oversight.

Further details indicate that the property includes 5 full bathrooms and a total of 10 rooms. The lot size is 3,498 square feet, and the building is constructed with 2 stories. Public records indicate an annual tax amount of $15,000. While specific details regarding laundry facilities, appliances, and finished or unfinished square footage are not provided, the existing income generation and convenient location are significant attributes.

The property's location in Bergen County, NJ, places it within established neighborhoods such as Upper Manhattan, Abbott, Uptown, Ridgefield Heights, and along Route 67-Route. The property type is classified as Residential Income, specifically a Multi-Family (5+ Unit) style. The presence of electricity connected as a utility further supports its operational readiness. This offering is designed for individuals or entities looking to acquire a well-positioned income-generating asset in a desirable New Jersey location.