Closed$2,000,000
TLC ≈ $14,513/mo
0 0 5,700 sqft
220 Passaic Avenue, Belleville, NJ 07109
220 Passaic Avenue, Belleville, NJ 07109
$2,000,000
0 beds 0 baths 5,700 sqft Built 1928433 days on marketClosed
About this home
This is an outstanding investment opportunity in the heart of Belleville! 220 Passaic Avenue is a six-unit multifamily property, fully leased, located on a high-visibility corner lot and in a high-demand rental market. This 5, 700 sqf building sits on a 5, 484 sqf lot and features a desirable mix unit of two 2-bedroom units and four 1-bedroom units. The property was comprehensively renovated approximately two years ago, with updated interiors, modern finishes, and security system. Each unit includes in-unit laundry and private storage, offering comfort and convenience for tenants. Additional upgrades include a full building-wide fire alarm system and a comprehensive security camera system covering hallways and exterior areas. Tenants benefit from 9 assigned parking spaces and access to a fully finished basement that adds functional space and long-term potential. The property is 100% occupied, delivering reliable income, strong tenant retention, and low vacancy rate. Located near Route 21, the Garden State Parkway, and NJ Transit. Just minutes from Newark, Bloomfield. This asset is also within short distance of shopping, schools, and a public park. This is a rare chance to acquire a fully stabilized, recently upgraded multifamily asset in a sought-after Essex County submarket.
Affordability — calculate your monthly payment
Adjust your budget to see what's left after housing, utilities and transportation. Numbers below assume a 5% down, 30YrJumbo at 4% APR.
Your estimated payment
$13,335/mo
- Real estate (PITI + HOA + PMI)
- $13,522
- Utilities
- $616
- Transportation
- $151
- Other (entertainment)
- $158
Principal + interest$9,071
Property tax + insurance$3,701
PMI / 2nd mortgage$750
Heating + cooling$146
Internet + TV + phone$158
Water + sewer + garbage$58
Car insurance + maintenance$151
Budget$13,835/mo
Remaining after TLC$500/mo
Purchase price
$2,000,000
Down payment
$100,000 (5%)
Loan amount
$1,900,000
APR
4%
Quick facts
Type
Commercial
Style
—
Year built
1928
Lot size
0.13 ac
Stories
3
Heating
Zoned, Forced Air
Cooling
Central Air, Ceiling Fan(s)
Water
Public
HOA
—
Annual tax
$20,169
MLS #
2515647R
County
Essex
At a glance
Air conditioning
Home features
Appliances
Refrigeration
Interior
Refrigeration
Community
Laundry Room
Parking
Parking LotPaved
Flooring
Concrete, Tile, Wood
Roof
See Remarks
Sewer
Public Sewer
Lot features
Corner Lot
Neighborhood — 07109
| Metric | This ZIP | County | USA |
|---|---|---|---|
| Population | 33,445 | 8,832,837 | 299,088,112 |
| Population Change Since1990 | 2.00% | 14.00% | 20.00% |
| Population Density | 9,910 | 1,137 | — |
| Male | 16,269 | 4,307,827 | 147,432,321 |
| Female | 17,175 | 4,525,010 | 151,655,844 |
| Never Married | 8,724 | 1,965,811 | 63,775,926 |
| Married | 12,731 | 3,647,435 | 123,120,365 |
| Separated | 1,471 | 391,239 | 12,639,686 |
| Widowed | 1,997 | 515,172 | 15,467,586 |
| Divorced | 2,185 | 529,393 | 23,075,029 |
| Number Of House Hold | 12,764 | 3,167,345 | 111,826,380 |
| Average House Hold Size | 2.62 | 2.73 | 2.60 |
| Medial Age | 36.17 | 37.15 | 35.46 |
| Median House Hold Income | $52,657 | $63,392 | $48,276 |
| Average House Hold Income | $60,272 | $83,312 | $63,629 |
| P C I | $23,090 | $30,662 | $24,529 |
| M D I | $44,290 | $52,505 | $41,133 |
| A T H E | $49,539 | $61,369 | $50,898 |
| S T R | 7.00% | 7.00% | — |
| W C J | 75.73% | 81.02% | 77.74% |
(Zip) Code
7109
Data via Certihomes neighborhood index. Comparisons across this ZIP, county and the United States.
Map & walkability
Open in Google Maps →Recently sold nearby
Listing information last refreshed 6/21/2025. Provided courtesy of UNITED R.E. OF NORTH JERSEY via Central Jersey Multiple Listing System, INC. Information deemed reliable but not guaranteed.