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Michelle Carite

michelle.carite@gmail.com +1(609) 923-2735

Listed by Jack Yao • Realmart Realty, LLC

$ 1,990,000

Est. payment | -/mo

2,455 SqFt

Save

$ 1,990,000

Est. payment | -/mo

Save

2,455 SqFt

Key Details

Property Type Multi-Family

Sub Type Detached

Listing Status Active

Purchase Type For Sale

Square Footage 2,455 sqft

Price per Sqft $810

MLS Listing ID NJME2086208

Style Colonial

Abv Grd Liv Area 2,455

Year Built 1928

Annual Tax Amount $19,062

Tax Year 2025

Lot Size 0.271 Acres

Acres 0.27

Lot Dimensions 63x187

Property Sub-Type Detached

Source BRIGHT

Property Description

Turnkey, high-yield 4-unit investment property located in the heart of Princeton is offered at $1,990,000. This fully occupied quadplex generates $8,100 monthly ($97,200 annually). Premier location: walk to Princeton University, top-tier downtown shopping, dining, the Princeton Shopping Center, Princeton Middle/High Schools, and local transit. Situated on a 0.27-acre lot (63' x 187') in a quiet, tree-lined residential neighborhood, this 1928 Colonial offers a park-like private yard and an off-street gravel driveway accommodating 5+ cars. This quadplex has been fully rented year round to University affiliates for 60+ years by current owners with a historical vacancy rate of under 1.5%, and seamless, same-day tenant turnarounds. The building spans 2,455 sq ft across 3 finished floors, featuring a highly efficient layout with separate PSE&G utilities—tenants pay their own electric, cooking gas, and internet. Versatile 4-Unit Mix Includes: Apt 1 (920 sq ft): Occupies the entire 1st floor. Features 2 bedrooms, living room, full bath, kitchen, walk-in pantry, and 2 private entrances. Apt 2 (425 sq ft): Studio apartment with bedroom/office area, eat-in kitchen, full bath, and 2 entrances. Apt 3 (554 sq ft): Occupies the entire 3rd floor. Features 1 bedroom, living room, kitchen, full bath, and 2 entrances. Apt 4 (414 sq ft): Studio apartment with bedroom/office area, eat-in kitchen, and full bath. Full basement / laundry machines (New 2020) 200-amp electrical (New 2020) Refurbished fire escapes (2026) New roof (2011) Interior & exterior paint (2026) Safe lead certificates (2026). While completely operational and cash-flowing on day one with stable market rents, this property offers incredible cosmetic value-add potential to modernize interiors and substantially increase future market rents. Capitalize on Princeton's historically ironclad appreciation and insatiable rental demand. Financials and rent roll are available upon request.

Location

State NJ

County Mercer

Area Princeton (21114)

Zoning R3

Rooms

Basement Interior Access

Interior

Hot Water Natural Gas

Heating Hot Water, Radiator

Cooling Window Unit(s)

Flooring Hardwood

Fireplace N

Heat Source Natural Gas

Exterior

Exterior Feature Porch(es)

Garage Spaces 5.0

Water Access N

Roof Type Shingle

Street Surface Paved

Accessibility None

Porch Porch(es)

Road Frontage Boro/Township

Total Parking Spaces 5

Garage N

Private Pool No

Building

Foundation Stone, Block

Above Ground Finished SqFt 2455

Sewer Public Sewer

Water Public

Architectural Style Colonial

Additional Building Above Grade, Below Grade

New Construction N

Schools

School District Princeton Regional Schools

Others

Tax ID 14-00031 04-00023

Ownership Fee Simple

SqFt Source 2455

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Financing Cash,Conventional

Special Listing Condition Standard

NEARBY SCHOOL & BUSINESS

+1(609) 923-2735

michelle.carite@gmail.com

264 HAWTHORNE AVE Princeton, NJ 08540