Experience the pinnacle of modern investment with this rare, totally rebuilt 2024 three-family masterpiece. Each of the three expansive units has been meticulously designed for the sophisticated renter, featuring soaring high ceilings, a generous three-bedroom, two-full-bath layout, and the essential comfort of central air conditioning throughout. Every residence is a study in contemporary luxury, boasting premium finishes and the ultimate convenience of dedicated in-unit laundry, ensuring these apartments command top-tier market rents. For the savvy investor, this property offers an exceptional turnkey opportunity with excellent existing rental income and significant upside potential. The financial appeal is further enhanced by extremely low taxes, creating an incredible high-margin investment with minimal overhead. Its location is a commuter's dream, situated moments away from major NYC transportation hubs and primary highways, ensuring a consistent and high-quality tenant pool. Whether you are looking to occupy one unit and have your mortgage paid or add a pristine, low-maintenance asset to your portfolio, this 2024 build represents an unrivaled opportunity in today's competitive market.
Multi-familyProperty Type
2024Year Built
2,178 sq ftLot Size
$27Price/Sq.Ft.
1 car garageParking
Listed by ARTUR TYSZKA• KELLER WILLIAMS PROSPERITY REALTY
Some nearby schools may not be within this home's attendance zone. Please check the Paterson Public School District website to verify.
School 10
Public K-8 • 0.0mi
2/10
Paterson P-Tech
Public 9-12 • 0.8mi
5/10
School 21
Public PreK-8 • 0.5mi
3/10
Provided by GreatSchools
About
Riverside
Riverside, located between the Passaic River waterfront and Route 20, is a residential and industrial Paterson neighborhood with river-edge parks and working rail corridors. The neighborhood’s character concentrates around River Street near the historic Great Falls district, where corner delis, small eateries, and light-industrial storefronts set a brisk, utilitarian street scene. Hinchliffe Stadium anchors local pride with its restored grandstands and event calendar. The Paterson Museum adds a dose of invention-era history in a compact, gallery-style setting. Streets mix early-20th-century rowhouses and two-families with brick warehouses and mill-era buildings. River views and trail segments shape a grounded, outdoors-meets-city rhythm.
Provided by Walk Score and Local Logic
Market insights
59 Mercer St · $795,000
DAYS ON MARKET
73 days
The average home goes pending in 28 days.
SALE-TO-LIST
103.8%
Most homes are selling 4% above list price.
LIST PRICE
$795,000
Median sale price in this area is $588,782. (26% lower than this home)
PRICE DROP
1 price drop
14% of homes in this area have had a price drop in the past month.
Property details
Interior
Exterior
Finance
Kitchen
Bathroom
Bedroom
Living
Dining
Interior features
21 total rooms
Crawl space basement
Bedrooms
Three separate units, each with 3 bedrooms (Unit 1: 3 bedrooms on 1 level; Unit 2: 3 bedrooms on 1 level; Unit 3: 3 bedrooms on 1 level)
Bathrooms
Six full bathrooms total (each unit has 2 full bathrooms)
Kitchen
Each unit includes a kitchen
Laundry & utility
Each unit includes a laundry room
Heating & cooling
Three separate heating units with forced hot air
Natural gas heating
Three separate central air units
Exterior features
Aluminum siding and stucco exterior
Asphalt shingle roof
Approximate lot size 2,594
Home design
Three-story, under/over multi-unit building (3 units)
Parking
Detached garage (1 garage space)
Driveway (see remarks)
Construction
Year built listed as approximate
Utilities
Natural gas service
Public sewer
Public water
Financial info
Property configured as 3 units
Reported rents: Unit 1 $2,500; Unit 2 $2,450; Unit 3 $2,475
Net operating income reported
Gross operating income reported
Operating expenses reported
Other
Security deposits listed for each unit
Electricity and solar
View estimated energy costs and solar savings for this home
Experience the pinnacle of modern investment with this rare, totally rebuilt 2024 three-family masterpiece. Each of the three expansive units has been meticulously designed for the sophisticated renter, featuring soaring high ceilings, a generous three-bedroom, two-full-bath layout, and the essential comfort of central air conditioning throughout. Every residence is a study in contemporary luxury, boasting premium finishes and the ultimate convenience of dedicated in-unit laundry, ensuring these apartments command top-tier market rents. For the savvy investor, this property offers an exceptional turnkey opportunity with excellent existing rental income and significant upside potential. The financial appeal is further enhanced by extremely low taxes, creating an incredible high-margin investment with minimal overhead. Its location is a commuter's dream, situated moments away from major NYC transportation hubs and primary highways, ensuring a consistent and high-quality tenant pool. Whether you are looking to occupy one unit and have your mortgage paid or add a pristine, low-maintenance asset to your portfolio, this 2024 build represents an unrivaled opportunity in today's competitive market.
NJMLS #26009669
Apr 7, 2026
Contingent
—
Mar 23, 2026
Listed
$825,000
$28/sq ft
GSMLS #4000675
Dec 20, 2025
Rental Removed
$2,295
$0/sq ft
Dec 6, 2025
Listed for Rent
$2,295
$0/sq ft
GSMLS #3974274
Aug 6, 2025
Rental Removed
$2,450
$0/sq ft
Jul 10, 2025
Listed for Rent
$2,450
$0/sq ft
NJMLS #1026574
Aug 12, 2025
Rental Removed
$2,450
$0/sq ft
Aug 1, 2025
Listed for Rent
$2,450
$0/sq ft
Mar 20, 2025
Rental Removed
$2,500
$0/sq ft
Mar 18, 2025
Listed for Rent
$2,500
$0/sq ft
Jan 10, 2025
Rental Removed
$2,650
$0/sq ft
Jan 7, 2025
Listed for Rent
$2,650
$0/sq ft
Dec 20, 2024
Rental Removed
$2,650
$0/sq ft
Dec 13, 2024
Listed for Rent
$2,650
$0/sq ft
GSMLS #3937873
Jan 20, 2025
Rental Removed
$2,500
$0/sq ft
Jan 18, 2025
Listed for Rent
$2,500
$0/sq ft
NJMLS #24038857
Jan 18, 2025
Rental Removed
$2,500
$0/sq ft
Jan 16, 2025
Price Changed
$2,500
$0/sq ft
Jan 10, 2025
Listed for Rent
$2,650
$0/sq ft
Dec 26, 2024
Rental Removed
$2,650
$0/sq ft
Dec 20, 2024
Listed for Rent
$2,650
$0/sq ft
GSMLS #3910100
Jul 24, 2024
Sold
$675,000
$23/sq ft
Jul 17, 2024
Pending
—
Jun 26, 2024
Listed
$699,000
$23/sq ft
NJMLS #24020690
Jul 24, 2024
Sold
$675,000
$23/sq ft
Jun 28, 2024
Contingent
—
Jun 26, 2024
Listed
$699,000
$23/sq ft
NJMLS #23036845
Dec 21, 2023
Contingent
—
Dec 6, 2023
Listed
$665,000
$22/sq ft
GSMLS #3126236
Jun 16, 2014
Sold
$95,000
$3/sq ft
Year
Property tax
Land + Additions
Assessment*
2025
$1,750
$125,800 + $780,700
$906,500
Public record
Public record
Zoning
Beds
—
Baths
—
Stories
—
Lot width
25 ft.
Lot depth
94 ft.
Lot size
2,348 Sq. Ft.
Year renovated
—
Finished Sq. Ft.
4,012
Unfinished Sq. Ft.
—
Total Sq. Ft.
4,012
Year built
1700
Style
Single Family Residential
County
Passaic County
APN
0803009 00001
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Sep 19, 2026.
R-2
Low Medium Density Residential District
The intent of the R-2 Low Medium Density Residential District is to permit single and two family dwellings at the low to medium densities permitted in the district, together with such uses as places of worship, recreational facilities, schools and other such permitted uses that are typically located in residential neighborhoods. Certain accessory uses that are customarily incidental to one and two-family residences and that are compatible with low to medium density residential surroundings are permitted as well. It is the further intent of this district to preserve the existing neighborhood character and the quality of the physical environment in these areas of the City. In keeping with this intent, higher density residential uses (i.e., townhouses and all kinds of multiple-family dwellings), as well as business, industrial and other non-residential uses are strictly prohibited. No new construction of such prohibited land uses, nor conversion of residential dwellings into such prohibited land uses, is permitted to occur with the R-2 District. In fill development consisting of single-family homes, two-family homes and/or other permitted uses that preserve the existing density, pattern, scale, and building height of the existing neighborhood is encouraged.
Permitted uses
Include but are not limited to:
Housing-Group
Housing-Single unit
Housing-Multiple units
Historical weather
Paterson, NJ • 07524-2466
Average low and high temperatures (°F)
36
22
39
24
56
36
65
45
72
54
84
64
89
70
84
63
80
60
66
48
56
39
41
27
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
87/ 100
Very good sunlight
Sunscore
This home ranks in the top 24% for direct sun exposure in Paterson. There appears to be minimal shading by surrounding buildings, terrain, and vegetation.
9.3 hrs
4.5 hrs
JuneDecember
Provided by Shadowmap
Redfin Estimate for 59 Mercer St
We cannot show automated home-value estimates for this home.
Nearby homes have recently sold between $575,000 and $750,000.
Nearby comparable homes
The Redfin Estimate uses 6 recent nearby sales, priced between $575K to $750K.