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Multifamily

526 Adams St, Hoboken

526 Adams St, Hoboken, NJ 07030

Listing Price: $2,900,000

Cap Rate
5.12%
Number of Units
12
Price/Unit
$241,667
Price/Gross SF
$391.89
Gross SF
7,400

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale a multifamily building on Adams Street in Central Hoboken NJ. The building contains 12 Units consisting of 2 Studios and 10 One Bedroom Apartments. There is also a nice backyard terrace with turf grass, chairs and more for all tenants to use. The building has an attractive going in Cap Rate of 5.12% and Proforma Cap rate of 7.22%. Additionally, there is 34% Upside the Rents, with an average increase of $500 on turnover, giving an investor room to continue growing the Rents. All tenants pay for Heat, Hot Water, Cooking Gas & Electric. The building is located in central Hoboken in a highly desirable areas. The property is just a 4 minute walk to the Clinton St at 5th St bus stop which provides for a quick 14 minute trip into Midtown Manhattan. The property is also only 1.2 miles to the Hoboken Path Station which offers a 9-minute trip into NYC. The building is situated closely to Newark Liberty Airport, JFK and La Guardia Airport and has easy access to Route 1 & 9, Interstate 95, I-78. The central location of the property in Midtown Hoboken allows for easy access to everything – PATH, ferry, Light Rail, shops, restaurants and all of the amazing benefits that come with living in Hoboken. The waterfront is only minutes away with plenty of parks, green lawns, walking paths and incredible views of NYC. It has been a top pick for tenants moving from NY to NJ.

Investment Highlights

  • 34% Upside in Rents
  • 5.12% Current Cap / 7.22% Proforma Cap
  • Tenants pay for Heat, Hot Water, Cooking Gas & Electric

Exclusively Listed By

Multifamily

526 Adams St, Hoboken

Listing Price: $2,900,000

Cap Rate
5.12%
Number of Units
12
Price/Unit
$241,667
Price/Gross SF
$391.89
Gross SF
7,400

Investment Highlights

  • 34% Upside in Rents
  • 5.12% Current Cap / 7.22% Proforma Cap
  • Tenants pay for Heat, Hot Water, Cooking Gas & Electric

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale a multifamily building on Adams Street in Central Hoboken NJ. The building contains 12 Units consisting of 2 Studios and 10 One Bedroom Apartments. There is also a nice backyard terrace with turf grass, chairs and more for all tenants to use. The building has an attractive going in Cap Rate of 5.12% and Proforma Cap rate of 7.22%. Additionally, there is 34% Upside the Rents, with an average increase of $500 on turnover, giving an investor room to continue growing the Rents. All tenants pay for Heat, Hot Water, Cooking Gas & Electric. The building is located in central Hoboken in a highly desirable areas. The property is just a 4 minute walk to the Clinton St at 5th St bus stop which provides for a quick 14 minute trip into Midtown Manhattan. The property is also only 1.2 miles to the Hoboken Path Station which offers a 9-minute trip into NYC. The building is situated closely to Newark Liberty Airport, JFK and La Guardia Airport and has easy access to Route 1 & 9, Interstate 95, I-78. The central location of the property in Midtown Hoboken allows for easy access to everything – PATH, ferry, Light Rail, shops, restaurants and all of the amazing benefits that come with living in Hoboken. The waterfront is only minutes away with plenty of parks, green lawns, walking paths and incredible views of NYC. It has been a top pick for tenants moving from NY to NJ.

Exclusively Listed By

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