Waterfront
Address
512 Park Ave, Hoboken, NJ
Price
$ 4,000,000
Property Attributes
  • MLS#230019609
  • TypePending
  • CountyHUDSON
  • CityHoboken
  • AreaHoboken
  • Zip07030
  • Style
  • Taxes$ 19625
  • Price$ 4,000,000
  • Bedrooms9
  • Full Bathrooms6
  • Half Bathrooms0
Data Source:
Hudson County MLS (HCMLS)
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.

Price History
11/21/2023 Listed $4,000,000

General Features

Status Pending
County Hudson
Class CI INVESTMENT - SALE ONLY
Type Investment
Block 00167
Associated Document Count 1
Status Under Contract
Sale/Rent For Sale
Status Detail 1
Handicapped Access No
Items Included Major Appliances
Area Hoboken
City Hoboken
Taxes 19625
Street Name PARK AVE
DOM 134

Interior Features

Total Number of Units 6
Elevators No
Number of Studios 3

Exterior Features

Number of Parking Spaces None
Lot Dimensions 24.67 x 100
Lot 00021

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Pending Average in 07030

Price
AVG $1.29M
$4M
Taxes
AVG $11,208
$19,625
Visits
AVG 86
209
Data Provided by Inside Real Estate®
Walkscore
AVG 98
99
Data Provided by Walkscore® not using MLS data

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