196 Madison St, Passaic City, NJ 07055
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Thomas "Chopper" Russo

Thomas "Chopper" Russo

+1(201) 240-5200
$ 850,000
Est. payment | /mo

4,791 Sqft Lot

Save
$ 850,000
Est. payment | /mo
Save

4,791 Sqft Lot

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

MLS Listing ID 4035520

Year Built 1930

Annual Tax Amount $14,903

Tax Year 2025

Lot Size 4,791 Sqft

Property Description

An exceptional, turnkey cash-flow opportunity in the heart of Passaic, this building consists of two one-bedroom apartments and 9 - rent rooms. It is fully licensed by the New Jersey Department of Community Affairs (NJDCA) as a rooming house, offering an investor immediate scale in a high-demand rental market.The asset was completely stabilized during a massive, top-to-bottom $500,000+ total renovation in 2020. This down-to-the-studs modernization encompassed all-new heating, electrical, and plumbing systems, alongside a new roof, windows, siding, flooring, and structural stairs. This entirely updated infrastructure ensures strict regulatory compliance while significantly lowering projected capital expenditures and operational maintenance for years to come.The two one-bedroom apartments have their own bathrooms and kitchens. The nine rent rooms share two bathrooms and a dedicated kitchenette area featuring a sink, countertop, and microwave. A full, unfinished basement houses the upgraded utilities and provides ample space for maintenance storage.Licensed rooming houses of this caliber and pristine physical condition are rarely available in the North Jersey market. With the heavy lifting of the renovation already complete, the next owner can focus entirely on optimizing the asset's substantial revenue potential.

Location

State NJ

County Passaic

Zoning R-3

Rooms

Basement Full, Unfinished

Interior

Heating Gas-Natural

Cooling 3 Units

Equipment Fire Alarm, Security System

Heat Source Gas-Natural

Exterior

Exterior Feature Vinyl Siding

Utilities Available Electric, Gas-Natural

Roof Type Asphalt Shingle

Building

Lot Description Corner

Story 3

Sewer Public Sewer

Water Public Water

Others

Ownership Fee Simple

Garden State MLS(GSMLS)
Information deemed reliable but not guaranteed. Copyright © 2026 Garden State Multiple Listing Service, L.L.C. All rights reserved.
Listed by COREY J SCHNEIDER
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Thomas "Chopper" Russo

Thomas "Chopper" Russo

Broker Associate

+1(201) 240-5200

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196 Madison St

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