523 Park Ave, Paterson, NJ, 07504
About This Home
Location, Location, Location! Exceptional investment opportunity on a highly visible corner lot at Park Avenue and East 33rd Street. This mixed-use property features two spacious residential units, each offering 5 bedrooms and 1 full bath, providing tremendous rental income potential. The first floor consists of a large vacant commercial space that previously operated as a laundromat, offering endless possibilities for redevelopment, owner occupancy, or potential business use. Buyers are encouraged to perform their own due diligence regarding permitted uses and any prior grandfathered approvals.The entire property is delivered vacant, making it ideal for investors, business owners, or owner-occupants seeking flexibility and value-add potential.Conveniently located near schools, parks, shopping, public transportation, and major highways. A rare opportunity to acquire a prominent corner property with substantial upside in one of Paterson's most desirable locations. Property being sold strictly as-is.
Getting Around
Very Walkable
Some Transit
BikeableSchools
Construction
Condition
- Year built: 1940
Materials
- Roof: Composition Shingle
- Construction materials: Aluminum Siding
Notable Dates
- Major remodel year: 2025
Type & Style
- Home type: MultiFamily
- Property subType: Multi Family
Interior
Appliances
- Appliances included: Range/Oven - Gas,Refrigerator,Gas Water Heater
Basement
- Has basement: Yes
- Basement: Yes,Unfinished
Bedrooms & Bathrooms
- Bedrooms: 10
- Bathrooms: 3
- Full bathrooms: 3
Features
- See Remarks,Bedrooms,Eat-In Kitchen,Living/Dining Room
Heating
- Heating features: 2 Units,Electric,Natural Gas
Interior Area
- Total structure area: 4,500
- Total interior livable area: 4,500 sqft
Property
Details
- Parcel number: 2508086050000000100000
Features
- Levels: 3-Three Story
- Stories: 3
- Exterior features: Sidewalk
Lot
- Lot size: 1,742 sqft
- Features: Corner Lot,Level
- Lot size dimensions: 25 x 71
Parking
- Parking features: On Street,On-Street Parking
- Has uncovered spaces: Yes
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Inland Flooding
- Strong Wind
- Winter Weather
- Cold Wave
- Heat Wave
- Lightning
How This Home’s Risks Compare
FEMA Declared Disasters Across New Jersey Counties
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $4,040 | $48,480 |
| Home Insurance * | $370 | $4,440 |
| Property Taxes | $1,504 | $18,048 |
| Electricity | $496 | $5,952 |
| Total | $6,410 | $76,920 |
Income You'd Need if You Spent...
New Jersey FAIR Plan Programs
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-06-22 | Listed for sale | $799,000 |
| 2026-04-30 | Listing removed | $879,900 |
| 2025-11-05 | Listed for sale | $879,900 |
| 2025-07-02 | Sold | $660,000 |
| 2025-03-20 | Pending sale | $499,000 |
| 2025-02-25 | Listed for sale | $499,000 |
| 2021-10-02 | Listing removed | -- |
| 2021-07-13 | Listed for sale | $549,000 |
| 2013-08-29 | Listing removed | $299,900 |
| 2013-07-18 | Listed for sale | $299,900 |
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