Overlooking the Hudson River and Manhattan skyline, just north of historic Hoboken, and south of the iconic Palisades, is 3508 Park Ave in Weehawken--a fully occupied mixed used building with two spacious three bedroom apartments above a long term medical tenant. Built in upside from 4% annual increases on the commercial lease and considerably more room for profit from the large rentals currently the lowest priced three bedroom units in the area. The property also features highly coveted off street parking for five vehicles, including two garage spots. Unmatched accessibility to NYC with a myriad of public transportation options, including: the Lincoln Tunnel, Water Way Ferry Terminal, express buses, and the light rail to Hoboken Train Station. As it sits, the asset produces approximately $100k in net operating income with a significant trajectory for appreciation as prices continue to rise in the NY/NJ metro markets. A perfectly positioned addition to any investment portfolio
Full Property Details
Full Property Details for 3508 Park Ave
MLS ID: 21031539
Added: 49 day(s) ago
Rent Includes: Janitor
Heating & Cooling
Utility Description: Sep Elec, Sep Gas, Sep Heat, Sep Water
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Listed by The Chen Agency Sold by The Chen Agency - Weehawken
3508 Park Avenue, Weehawken, NJ 07086 (MLS# 21031539) is a
3508 Park Avenue is currently listed for $1,700,000 and was received on August 03, 2021.
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