491 21st Ave Paterson, NJ 07513
Eastside NeighborhoodEstimated payment $6,554/month
About This Home
Welcome to 491 21st Avenue, an outstanding income-producing property offering exceptional flexibility and growth potential. This unique opportunity features two separate buildings on one lot in a high-visibility, high-traffic location within the vibrant People's Park neighborhood.The front building includes a fully-leased retail storefront currently used as a dentist office at street level and two spacious residential apartments above, ideal for consistent, diversified rental income. The rear building offers two additional residential apartments, providing even greater earning potential. Property Highlights: 8.5% cap rate and Total of 5 rental units (1 commercial + 4 residential) Strong rental history with immediate income generation, Separate entrances for all residential units, Low-maintenance exterior with brick facade, Prime high-traffic location perfect for business exposure, Close proximity to public transportation, shopping, schools, and major highways. Zoned for residentia
Property Details
Property Type
- Other
Est. Annual Taxes
- $19,500
Home Design
- Asphalt
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $21,404 | $420,100 | $72,000 | $348,100 |
| 2024 | $20,598 | $420,100 | $72,000 | $348,100 |
| 2022 | $19,501 | $420,100 | $72,000 | $348,100 |
| 2021 | $18,804 | $420,100 | $72,000 | $348,100 |
| 2020 | $17,539 | $420,100 | $72,000 | $348,100 |
| 2019 | $16,710 | $404,200 | $72,000 | $332,200 |
| 2018 | $15,725 | $363,500 | $72,000 | $291,500 |
| 2017 | $14,352 | $345,000 | $72,000 | $273,000 |
| 2016 | $14,970 | $345,000 | $72,000 | $273,000 |
| 2015 | $14,173 | $345,000 | $72,000 | $273,000 |
| 2014 | $10,797 | $372,300 | $120,000 | $252,300 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 04/28/2025 04/28/25 | For Sale | $925,000 | -- | -- |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Deed | -- | Chicago Title Insurance Co | |
| Bargain Sale Deed | $440,000 | -- |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $306,028 | Commercial | |
| Previous Owner | $352,000 | New Conventional |
Source: New Jersey MLS
MLS Number: 25013942
APN: 08-08906-0000-00018
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All information deemed reliable but not guaranteed. Source: New Jersey Multiple Listing, Inc.
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