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This six-unit building in prime Hoboken offers investors the amazing opportunity to acquire a well-performing asset in an in-demand New Jersey city.
Located at 512 Park Avenue, the fully occupied building is truly an investor’s dream and contains three three-bedroom units plus three studio units. Each unit is recently renovated with finishes that renters covet. The units were designed by Kirk Mitchell of the esteemed firm AKT Designs.
Exposed brick, hardwood floors, and recessed lighting offer charming, spacious, and bright living spaces. The kitchens are open and outfitted with shaker-style glossy white cabinetry, quartz countertops, and stainless steel appliances. Select units feature large kitchen peninsulas with seating along one side, perfect for the home chef and for entertaining.
Professionally managed by Hoboken’s 6th Borough Management, the four-story building is situated on Park Avenue between 5th and 6th Streets. Less than a block away is Church Square Park, home to a playground, a dog run, and kiddie sprinklers. It’s also a short walk to Hoboken’s lively Washington Street where you’ll find all the popular eateries and shops.
This is an absolutely ideal Hoboken location with many transportation options available nearby. The PATH, trains, buses, and ferries are all in close proximity, making commuting to both NYC and other parts of New Jersey a breeze.
Currently, the property is fully leased, and the legal rents are actually higher than the current rents. The last few units to hit the rental market had multiple offers. The combination of high rents and low expenses makes this a perfect addition to any savvy investor’s portfolio.
This unique investment opportunity is not to be missed! 512 Park Ave in Hoboken is asking $3,350,000.
For more information or to schedule a viewing please contact Marie Gomer of the Marie Gomer Group at Compass at 201-926-5040 or [email protected].
Asking: 512 Park Avenue, Hoboken
Agent/Brokerage: Marie Gomer/Marie Gomer Group at Compass