264 Hawthorne Ave, Princeton, NJ 08540

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.