4 Mixed Used Buildings Hoboken, New Jersey

Contact me for pricing
For Sale
Property type: Multifamily Package Deal
Units
42
Commercial Units
7

Details

  • 1 Bedrooms: 30
  • 2 Bedrooms: 7
  • 3 Bedrooms: 2
  • Studios: 3
  • Retail: 7

Financial details

  • Gross Operating Income: $931,927
  • Total Operating Expenses: $232,952
  • Net Operating Income: $698,975

Highlights

  • 42 Residential & 7 Commercial
  • 3 of the Buildings are in Hoboken
  • In-place rents are 30% below market

Description

This is a multi-housing portfolio located along the prestigious Hudson Waterfront in Hudson County, New Jersey. The Portfolio consists of 4 value-add mix use apartment buildings with a total of 42 residential units and 7 commercial units.

The portfolio offers the opportunity for significant value creation by bringing the current rents to market and implementing an aggressive renovation program. The in-place rents in the portfolio are below market by an average of 30%.

A majority of the units have only had limited renovations, so the next owner will be able to significantly increase the in-place rents upon rollover and have the ability to renovate the units to increase the rents even further.

Price includes a 3% broker fee paid by buyer.

Contact the Agent

Rowen Giles

New York Licensed Real Estate Salesperson
Rowen is a New York Licensed Real Estate Salesperson in association with D. White, a licensed broker. Hire Rowen as your real estate agent to represent you in the purchase or sale of residential and commercial real estate. Locations include Brooklyn, Bronx, Queens, Long Island, Staten Island, and upstate NY.