704 Washington St

Description

Rare opportunity to acquire a fully occupied mixed-use building in a premier Midtown Hoboken location along the Washington Street retail corridor. This classic brick building features a large ground-floor retail space, four residential apartments and basement storage. The residential mix includes three 3-bedroom, 1-bath apartments and one 1-bedroom, 1-bath apartment with a private yard. Strong existing rent roll with gross annual income of $325,200 and NOI of $272,360, offering immediate income from both residential and commercial tenants. Hoboken’s limited housing supply, strong rental demand and highly walkable urban setting have made well-located mixed-use properties particularly desirable long-term investment assets. The combination of residential and retail income provides diversification, while a Washington Street address offers the benefit of one of the city’s most established commercial corridors with convenient access to PATH, ferry and NJ Transit service to Manhattan. Situated on a 21' x 75' lot and located outside of the flood zone. An exceptional opportunity to acquire a fully occupied, income-producing building in one of Hudson County’s most sought-after rental markets.