$1,049,000
AN IMPRESIVE 10%+ CAP RATE INVESTMENT AND DEVELOPMENT OPPERTUNITY in the heart of Princeton! Generating approx. $12,000/month from 9 units, this property delivers strong cash flow with a significant upside. An additional approx. 3000 sq ft of unused space on the second floor provides further income potential. Extensive upgrades include new plumbing throughout, updated electrical with 7 individual meters, plus new flooring and paint in most units. Many suites have kitchen and bathroom upgrades as well.The development upside is a huge bonus, initial conceptual drawings have been complete and initial discussions with town have been conducted with huge support. Princeton is a pro development community experiencing major growth, with new builds up to 6 storeys. There is a sever housing shortage and the vacancy rate is below 1%, Princeton is quickly becoming a market for developers and investors. Strong income and incredible future value. (id:64133)
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Property Details
MLS® Number 10400499 Property Type Multi-family Neigbourhood Princeton AmenitiesNearBy Park, Shopping CommunityFeatures Pets Allowed With Restrictions Features Two Balconies -
Building
Appliances Oven - Electric, Oven, Hood Fan, Washer & Dryer Basement Type Crawl Space Constructed Date 1929 Exterior Finish Other Flooring Type Mixed Flooring Heating Fuel Electric Heating Type Baseboard Heaters Roof Material Other Roof Style Unknown Stories Total 2 Size Interior 8,000 Sqft Type Multi-family Utility Water Municipal Water Parking
Street Rear -
Land
Access Type Easy Access Acreage No Land Amenities Park, Shopping Sewer Municipal Sewage System Size Irregular 0.25 Size Total 0.25 Ac|under 1 Acre Size Total Text 0.25 Ac|under 1 Acre
Mark Gidden
Realtor/Founder
Lloyd Taverner
Realtor/Senior Partner
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September 24 2026 10:18:06
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