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512 Park Ave

Hoboken, NJ 07030
  • $4,000,000
  • STATUS: Active
  • ON SITE: 98 Days
  • MLS #: 230019609
UPDATED: 57 min ago
$4,000,000
  • 0
    BEDS
  • N/A
    ACRES
  • 6
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
County:
Area:

School Ratings & Info

Description

A rare opportunity to own a 6 unit multi-family with basement storage units and a beautiful courtyard, fully redeveloped in 2020. This investment is a rare find in Hoboken, offering an unbeatable combination of high rental income and low maintenance costs, with a cap rate of 5.25% on the in-place NOI and a projected cap rate of 5.75%. There is potential to generate additional income from the onsite storage lockers and the new owner could benefit with the installation of solar panels. The legal rents are significantly higher than the current rents. There is also a unique opportunity for condo conversion. Hoboken is often referred to as the "Sixth Borough" of New York due to the ease of convenience for commuting into NYC, and 512 Park Avenue offers close proximity to transportation hubs including the Path, NJ Transit buses, Light Rail and Ferry. Also convenient to parks, nearby parking garages, and bustling Washington Street with a large variety of amazing restaurants, and the Hoboken Waterfront. These units are in high demand and often receive multiple offers when they are available. Reach out for more information.

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© 2024 Hudson County Multiple Listing Service. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or PRIME Real Estate Group. The data relating to real estate for sale or lease on this web site comes in part from HCMLS. Real estate listings held by brokerage firms other than PRIME Real Estate Group are marked with the HCMLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. Data last updated: 2024-02-28T19:26:36.32.
www.bestofhobokenhomes.com/homes/145427464
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512 Park Ave Hoboken, NJ 07030

  • Price: $4,000,000
  • Status: Active
  • On Site: 98 Days
  • Updated: 57 min ago
  • MLS #: 230019609
0
Beds
6
Baths
0
½ Baths
N/A
Acres
Neighborhood:
Hoboken
County:
Hudson
Area:
Hoboken
Property Description
A rare opportunity to own a 6 unit multi-family with basement storage units and a beautiful courtyard, fully redeveloped in 2020. This investment is a rare find in Hoboken, offering an unbeatable combination of high rental income and low maintenance costs, with a cap rate of 5.25% on the in-place NOI and a projected cap rate of 5.75%. There is potential to generate additional income from the onsite storage lockers and the new owner could benefit with the installation of solar panels. The legal rents are significantly higher than the current rents. There is also a unique opportunity for condo conversion. Hoboken is often referred to as the "Sixth Borough" of New York due to the ease of convenience for commuting into NYC, and 512 Park Avenue offers close proximity to transportation hubs including the Path, NJ Transit buses, Light Rail and Ferry. Also convenient to parks, nearby parking garages, and bustling Washington Street with a large variety of amazing restaurants, and the Hoboken Waterfront. These units are in high demand and often receive multiple offers when they are available. Reach out for more information.
Exterior Features

Lot Size 24.67 x 100 Number Parking Spaces None

Interior Features

Three Bedrooms 3

Property Features

Commercial Type Investment Elevators No Gross Income 249780 Handicap Access No Internet Yes Lead Paint Form Yes Operating Expenses 21280 Studios 3 Taxes 19625

Listing provided courtesy of COMPASS NEW JERSEY, LLC:201-627-4947.


© 2024 Hudson County Multiple Listing Service. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or PRIME Real Estate Group. The data relating to real estate for sale or lease on this web site comes in part from HCMLS. Real estate listings held by brokerage firms other than PRIME Real Estate Group are marked with the HCMLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. Data last updated: 2024-02-28T19:26:36.32.
 
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PRIME Real Estate Group
98 Park Avenue
Hoboken NJ, 07030