Passaic County · Passaic
Sell Your Commercial Property In Passaic, NJ
We are an active buyer of Passaic commercial rental properties with five or more units, whether the building is fully leased, half vacant, or overdue for renovation.
- Clear feedback on your deal, typically within 48 hours
- 5 to 100+ units, stabilized or distressed, listed or off-market
- Owners, agents, and brokers welcome — every conversation is confidential
We buy:Tired landlordsEstate & trust sales1031 exchangesDeferred maintenanceHigh vacancyPartnership splits
Areas We Target: Downtown Passaic · Passaic Park · Dundee · Wallington — Passaic County, NJ
Why Passaic
Why We Buy Multifamily In Passaic
Passaic, New Jersey is a dense renter market of 70,002 residents, where 76.2% of occupied homes are rented and 44.8% of homes sit in buildings of five or more units (ACS 2020-2024). Owners who want to sell commercial property in Passaic, NJ face a 2025 effective tax rate of $2.113 per $100 and a local 3% rent increase cap.
This profile lays out Passaic rents, taxes and landlord rules for anyone ready to sell multifamily property in Passaic, using Census, HUD and New Jersey sources.
St. Mary's General Hospital
St. Mary's General Hospital operates at 350 Boulevard in Passaic as a member of Prime Healthcare.Passaic rail station
Passaic Station on NJ Transit's Main-Bergen County line has three no-fee lots totaling 92 parking spaces.Public transit commuters
In Passaic, 3,487 of 29,203 workers, or 11.9%, commute by public transportation (ACS 2020-2024, table B08301).Our Buy Box
What We Buy In Passaic
Asset Type
Multifamily, 5+ Units
Apartment buildings and income-producing residential.
Size
5 – 100+ Units
Sweet spot: 15–25 units.
Condition
Stabilized To Distressed
Value-add, mismanaged, and high-vacancy properties welcome.
Deal Types
Listed Or Off-Market
Direct-to-owner, pocket listings, portfolios.
Local Market Data
Passaic Apartment Market
Figures gathered October 2026 from public market data.
Who rents in Passaic
Passaic is a renter city: 76.2% of occupied homes are rented. In ACS 2020-2024 data, 16,123 of 21,151 occupied homes in Passaic are renter-occupied.
Buildings with five or more units hold 44.8% of Passaic's 21,693 homes, or 9,724 homes, per ACS table B25024. Also, 86.5% of Passaic homes were built before 1980.
Rents and affordability in Passaic
Passaic's median gross rent is $1,465 per month, which is 85.2% of New Jersey's $1,720 (ACS 2020-2024). Passaic's median household income is $55,371, or 53.5% of the state's $103,556.
Passaic renters are heavily cost-burdened: 56.3% pay 30% or more of income on rent, and 31.2% pay 50% or more.
Under HUD's FY2027 fair market rents, effective October 1, 2026, the Bergen-Passaic, NJ HUD Metro FMR Area sets a 2-bedroom rent of $2,282. That is $817 above Passaic's ACS median rent. Anyone ready to sell commercial real estate in Passaic, NJ can benchmark against these figures.
| Unit size | HUD FY2027 FMR (Bergen-Passaic, NJ) |
|---|---|
| Efficiency | $1,772 |
| 1 bedroom | $1,987 |
| 2 bedrooms | $2,282 |
| 3 bedrooms | $2,771 |
| 4 bedrooms | $3,497 |
Property taxes in Passaic County
Passaic's 2025 general tax rate is $4.258 per $100 and its effective rate is $2.113 per $100, per the NJ Division of Taxation 2025 General Tax Rates. The Passaic County 2025 Abstract of Ratables lists a 50.52% ratio for Passaic City.
On a $2,000,000 property, the effective rate gives $2,000,000 x 2.113% = $42,260 in annual property tax.
The seller pays New Jersey's Graduated Percent Fee on deeds over $1,000,000. It applies to Class 4A commercial property other than industrial or apartment property. Owners who sell commercial property in Passaic, NJ for $1,000,000 to $2,000,000 pay 1%, which is $20,000 on $2,000,000.
Landlord rules in Passaic
- Passaic's Chapter 231, Rent Stabilization caps increases at a maximum of 3% on each tenancy anniversary, plus an itemized tax pass-through (section 231-23A).
- Passaic's Chapter 185 requires a registration form for each multiple dwelling unit within 15 days of occupancy.
- New Jersey caps a security deposit at 1.5 months' rent and requires its return within 30 days after the lease ends.
- The NJ Department of Community Affairs says no Notice to Quit is needed before an eviction suit for nonpayment of rent.
What it means for an owner in Passaic
Passaic's 3% increase cap, 86.5% pre-1980 stock and $42,260 tax on a $2,000,000 asset are the numbers a buyer underwrites first. Use our cap rate calculator to test them.
Skyline Capital Investments buys apartment buildings of five or more units. If you want to sell your apartment building in Passaic, see how we buy apartment buildings. Owners of offices, retail or mixed-use who sell commercial property in Passaic, NJ should also price the 1% fee.
Good To Know
Pricing Your Building In Passaic
More about selling in New Jersey →Investing in Passaic? See apartment syndications in Passaic →
- Selling commercial property in Passaic over $1,000,000 triggers the seller-paid Graduated Percent Fee on Class 4A deeds.
- Owners who sell commercial real estate in Passaic, NJ should pull the 2025 Abstract of Ratables for their district.
- Passaic's Rent Stabilization chapter requires 30 days' notice for increases, after tenant registrations are completed.
Seller Guides
Your Situation, Handled — Passaic
Learn More
Taxes & Rules For Passaic Property
The New Jersey rules that shape any deal in Passaic: what a sale costs in tax, how buildings are taxed, what landlords must follow, and how to defer gains.
Passaic Seller FAQ
Can I sell commercial property in Passaic, NJ and what state fee applies?
Yes. For Class 4A commercial deeds (other than industrial or apartment) with consideration from $1,000,000 to $2,000,000, New Jersey charges the seller a 1% Graduated Percent Fee, which is $20,000 on a $2,000,000 sale, per the NJ Division of Taxation.
How do I sell commercial real estate in Passaic, NJ given the property taxes?
Passaic's 2025 effective tax rate is $2.113 per $100, so a $2,000,000 property carries about $42,260 in annual property tax. Have the current tax bill and your district's published rate ready when you list the asset.
How much can a Passaic landlord raise rent each year?
Under Passaic's Chapter 231, Rent Stabilization of 2025 (section 231-23A), covered units are capped at a maximum 3% increase on each tenancy anniversary, plus an itemized property tax pass-through. New residential construction completed after May 1, 1978 is exempt under section 231-1.
What is the security deposit limit in Passaic, New Jersey?
New Jersey law allows a maximum of 1.5 months' rent as a security deposit, with annual additions capped at 10% of the current deposit. Landlords must return the deposit within 30 days after the lease ends, per N.J.S.A. 46:8-21.1 and 46:8-21.2.
Do Passaic landlords need to register rental units?
Yes. Passaic Chapter 185 requires landlords and tenants to file a registration form for each multiple dwelling unit within 15 days of occupancy. The city's registration form lists a $25 processing fee and says failure to file may bring penalties.
What if my Passaic building has vacancies or deferred maintenance?
That is often where we add the most value. We buy buildings that need renovation, new management, or lease-up, and we account for that in our offer.
Do you work with Passaic brokers and agents?
We do. Agents can bring us listed or pocket-listing deals in Passaic, and we keep every conversation confidential.
Can I sell rental property in Passaic with tenants in place?
Yes. We buy apartment buildings with tenants in place and keep existing leases intact. As a commercial real estate buyer focused on 5+ unit properties, we underwrite the current rent roll as it stands.
Do I need a broker to sell my apartment building in Passaic?
No. You can work with us directly, or your broker can bring the deal to us. Either way, conversations stay confidential.
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