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$785,000
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Property Description
This was a mixed-use property with a laundromat business operating on the first floor, but the previous owner removed all of the equipment. Gas, electric, water, security system, and drainage connections have been installed, with capacity for up to 20 washers and 20 dryers. A new central A/C and heating system has also been installed on the first floor, the building also features two recently renovated apartments on the second and third floors (see details in the unit information section). The driveway, siding, and roof are all brand new, you have to see this property in person to truly appreciate the many recent improvements. Due to the first-floor vacancy, the previous buyers were unable to secure financing. As a result, the seller is only accepting cash offers with proof of funds. Conventional financing may be considered with at least a 50% down payment and a pre-approved loan letter. Buyers should check with their lender before moving forward. "BETTER SAFE THAN SORRY" This property represents an outstanding investment opportunity with significant income potential. GOOD NEWS...!!! THE PROPERTY HAS ALREADY BEEN APPRAISED AT $800,000, SO THERE IS NO RISK OF GOING FOR THE FULL ASKING PRICE...!!!
Full Property Details
Full Property Details for 116 Belmont Ave
General
- Price: $785,000
- Taxes: $14,291 (2024)
- Status: Active
- Type: Multi-Family
- Source: Garden_State
- MLS ID: 3969680
- Updated: 8/5/2026
- Added to Site: 425 day(s) ago
Interior
- Number of Rooms: 16
- Interior Features: Carbon Monoxide Detector, Fire Extinguisher, Security System, See Remarks, Smoke Detector
Rooms
Bathrooms
- Total Bathrooms: 4
- Full Bathrooms: 3
- Half Bathrooms: 1
Bedrooms
- Total Bedrooms: 9
Exterior
- Exterior Features: Metal Fence, Wood Fence
Parking
- Garage Description: None
Location
- County: Passaic
- Driving Directions: FROM WEST BROADWAY TO BELMONT AVE, OR FROM HALEDON AVE TO NORTH 7TH TO BELMONT.
Heating & Cooling
- Cooling Type: Central Air Conditioning, Window A/C(s)
- Heating Type: 3 Units, Radiators - Hot Water
- Heating Fuel: Electric, Natural Gas
- Water Heater: Electric, Gas
Utilities
- Sewer: Public Sewer
- Water: Public Water
- Utility Description: Electric
Structural Information
- Architectural Style: 3-Three Story
- Exterior Const.: Brick, Vinyl Siding
- Basement: Yes
- Basement Desc.: Full
- Roof: Asphalt Shingles
- Year Built: 1950
Unit Information
Unit 1
- Unit Description: See Remarks
- Square Feet: 9999
- Levels/Stories: 1
- Total Bathrooms: 1
Unit 2
- Unit Description: Bedrooms, Eat-In Kitchen, Living Room, Pantry, Utility Room
- Square Feet: 9999
- Levels/Stories: 2
- Total Bathrooms: 1
- Bedrooms: 5
Unit 3
- Unit Description: Bedrooms, Eat-In Kitchen, Kitchen, Living/Dining Room
- Square Feet: 9999
- Levels/Stories: 3
- Total Bathrooms: 1
- Bedrooms: 4
Lot Features
- Lot Size (Acres): 0.1
- Lot Dimensions: 45 x 100
- Driveway/Sidewalk: Blacktop
- Lot Description: Level Lot
Financial Considerations
- Operating Expenses: $9,999
- Assessment Amount: $213,000
- Land Assmt: $67,500
- Tax Amount: $14,291
- Tax Year: 2024
Disclosures and Reports
- Exclusions: Tenants' properties
- Disclosures: Yes
- Block: 422
- Lot Number: 8
Listed by Promise Land Realty
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Schools
Schools serving 116 Belmont Ave
School District:Paterson City School District
Disclaimer:
School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 116 Belmont Ave
Date
Details
Price
Change
Source
8/05/2026
Price Reduced
$785,000
-1.26%
MLS
7/20/2026
Price Increased
$795,000
1.27%
MLS
7/13/2026
Price Increased
$785,000
1.29%
MLS
7/10/2026
Price Reduced
$775,000
-0.64%
MLS
6/26/2026
Price Reduced
$780,000
-1.64%
MLS
5/17/2026
Price Increased
$793,000
1.28%
MLS
3/07/2026
Price Reduced
$783,000
-0.25%
MLS
2/09/2026
Price Reduced
$785,000
-1.86%
MLS
11/17/2025
Price Reduced
$799,890
—
MLS
11/01/2025
Price Reduced
$799,900
-3.63%
MLS
9/20/2025
Price Reduced
$830,000
-5.14%
MLS
7/17/2025
Price Reduced
$875,000
-2.67%
MLS
6/16/2025
Listed
$899,000
63.45%
MLS
4/24/2024
Sold
$550,000
—
Public Record
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Tax History
Tax History for 116 Belmont Ave
Year
Property Taxes
Change
Tax Assessment
Change
2025
$14,965
—
$476,400
70%
2025
$14,965
9%
$280,500
—
2023
$13,753
6%
$280,500
—
2022
$13,021
4%
$280,500
—
2021
$12,555
12%
$280,500
4%
2019
$11,162
6%
$270,000
11%
2018
$10,499
10%
$242,700
5%
2017
$9,585
-4%
$230,400
—
2016
$9,997
6%
$230,400
—
2015
$9,465
31%
$230,400
-13%
2013
$7,236
—
$263,700
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 116 Belmont Ave
116 Belmont Ave, Paterson, NJ 07522 (MLS# 3969680) is a Multi-Family property with 3 units containing 9 bedrooms, 3 full bathrooms and 1 partial bathroom. 116 Belmont Ave is currently listed for $785,000 and was received on June 16, 2025. Want to learn more about 116 Belmont Ave? Do you have questions about finding other Multi-Family real estate for sale in Paterson? You can browse all Paterson real estate or contact a Coldwell Banker agent to request more information.

