Skip to main content

Multifamily

452 1st St/102 Adams St , Hoboken

452 1st St, Hoboken, NJ 07030

Listing Price: $4,548,000

Cap Rate
1.00%
Number of Units
16
Price/Unit
$284,250
Price/Gross SF
$435.22
Gross SF
10,450

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale a mixed use building on the corner of Adams St & 1st St in Hoboken, NJ. The building consist of 12 one bedroom apartments, 4 commercial spaces and 4 parking spots. The building has been converted to condos and approved by the DCA. Eight out of the twelve apartments will be delivered vacant at closing. Five apartments have been fully renovated recently. The commercial spaces consists of a medical lab, grocery store and liquor store with leases in place. There is plenty of room to grow the rents & with high vacancy, investors can turn these over quickly to either raise the rent as rentals or sell out as condos. The building is located in a highly desirable area on 1st St, just a few blocks from Willow with plenty of convenient retail shops nearby. The property is just a 10 minute walk to the Hoboken path train with an under 10 minute trip to get into NYC. There are also several bus options to get around Hoboken and 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 location of the property in 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

  • 8 out of 12 Apartments will be delivered vacant
  • Projected gross rents of $485,000 once full renovated and rented out
  • Converted to condos

Exclusively Listed By

Multifamily

452 1st St/102 Adams St , Hoboken

Listing Price: $4,548,000

Cap Rate
1.00%
Number of Units
16
Price/Unit
$284,250
Price/Gross SF
$435.22
Gross SF
10,450

Investment Highlights

  • 8 out of 12 Apartments will be delivered vacant
  • Projected gross rents of $485,000 once full renovated and rented out
  • Converted to condos

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale a mixed use building on the corner of Adams St & 1st St in Hoboken, NJ. The building consist of 12 one bedroom apartments, 4 commercial spaces and 4 parking spots. The building has been converted to condos and approved by the DCA. Eight out of the twelve apartments will be delivered vacant at closing. Five apartments have been fully renovated recently. The commercial spaces consists of a medical lab, grocery store and liquor store with leases in place. There is plenty of room to grow the rents & with high vacancy, investors can turn these over quickly to either raise the rent as rentals or sell out as condos. The building is located in a highly desirable area on 1st St, just a few blocks from Willow with plenty of convenient retail shops nearby. The property is just a 10 minute walk to the Hoboken path train with an under 10 minute trip to get into NYC. There are also several bus options to get around Hoboken and 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 location of the property in 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

MM Texture Background
MM Textured Background Lower