300 Garden St, Hoboken, NJ 07030

Property Description

Rare opportunity to acquire a highly desirable corner building in downtown Hoboken. Consisting of 2 separate block and lots it's a total of six residential apartments and one commercial space (laundromat). The properties generate approximately $241,453 in NET income. The residential mix includes 3x three-bedroom apartments at 300 Garden Street and 3x one-bedroom apartments at 204 3rd Street. Five residential units are currently occupied, while one 1-bedroom unit is vacant and undergoing renovation. The commercial laundromat is leased through December 2029 with scheduled annual rent increases.Tenants pay their own gas, electric and heat, while the landlord is responsible for water and sewer. The laundromat tenant owns the business equipment and pays its own utilities, including separate water/sewer, gas and electric. Located just two blocks from the bus to Port Authority and less than a 10-minute walk to the PATH, these properties will always be a highly desirable Hoboken location with excellent access to New York City, local dining, shopping and neighborhood amenities.