5+ Mixed Use For Sale in Garfield, NJ
MLS# : 25017959
PROPERTY DETAILS
PROPERTY DESCRIPTION
Introducing 471 Harrison Ave, Garfield  a fully gut-renovated 5-unit multifamily property offering a strong 5.5% cap rate and stable, consistent rental income. The building consists of four 1-bedroom, 1-bath units and one 3-bedroom, 1-bath unit, all fully occupied with separate utilities for each apartment. Renovated just four years ago, the property features updated interiors, modern finishes, and a coin-operated laundry machine in the basement for added cash flow. Located in a high-demand rental area of Bergen County, this low-maintenance asset is ideal for investors seeking immediate returns and long-term value. Conveniently close to shopping, restaurants, highways, and transit options. Don’t miss this rare opportunity to acquire a fully stabilized building with solid returns in the heart of Garfield.
Amenities
This listing is a courtesy of Prominent Properties Sotheby's International Realty-Tenafly
201-568-5668 office, listing agent Jason Pierce
About Garfield, NJ Real Estate Market
The journey of the formation of Garfield as an independent town began in 1873 when it was known as East Passaic. In 1881, the town was renamed Garfield to pay honour to one of the presidents of the United States of America, James Garfield. When James Garfield died in 1881, a train station in East Passaic got named after him, which eventually became the name of the whole town.
The expansion of Garfield as a city began in 1898 by including portions of the Saddle River Township and Wallington together. The boundaries of the town got defined under an act introduced by New Jersey Legislature. The official naming of the town as Garfield happened in 1917 based on a referendum.
Garfield shares its boundaries with a few other boroughs like Saddle Brook, Elmwood Park and South Hackensack. A few prominent places of interest located in Garfield are Dundee Dam, Plauderville, Dahnert’s Lake County Park and Bogart Heights.
| Population: | 30,487 |
| Total Housing Units: | 11,877 |
| Single Family Homes: | 5,468 |
| General Tax Rate (2023): | 3.281% |
| Effective Tax Rate (2023): | 2.006% |
| Compare To Other Towns |
Garfield Market Indicators
PRICE INDEX
| Average Price* (12mo): | $529,316 |
| Homes Sold* (12mo): | 50 |
SINGLE FAMILY HOME SALES
Garfield, NJ
REAL ESTATE TAXES
| General Tax Rate (2023): | 3.281% |
| Effective Tax Rate (2023): | 2.006% |
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MADISON ADAMSTM
Ridgewood, NJ 07450
201-760-1100 (office)
201-760-1102 (fax)
