- – beds
- – baths
- 3,516 sqft
- 2,788 sqft lot
- $567 per sqft
- 1900 build
Presenting a Rare Investment Opportunity: 24-26 Bank St, Princeton, NJ Discover a prime multifamily asset just steps from Nassau Street and Palmer Square. This classic six-unit property offers immediate income, significant value-add potential, and a location at the heart of Princeton’s vibrant community.

Property Highlights: 1. Unit Mix: Six spacious apartments in Downtown Princeton. 2. Current Income: $150,000 annual gross 3. Net Operating Income (NOI): $118,153 annually 4. Post-Renovation Upside: projected rents: $3,400 per unit/month after renovation ($244,800 annual gross)5. Pro Forma NOI: $212,953 annually 6. Asking Price: $1,995,000 ($332,500 per unit) 7. Parking: Monthly parking available at nearby garages. Compare this listing with other apartments in Downtown Princeton: Studios on Nassau St & Palmer Square (which are roughly 200 sq ft) are selling for $400,000+, with 1-bedrooms in the same area selling for $650,000+. But in this building? Six full-sized apartments are just $332,500 per unit—well below local condo pricing. Financial Overview: Gross Income: $150,000, Expenses: $37,847, NOI: $112,153. Post-Renovation Scenario: Gross Income: $244,800, Expenses: $31,847, NOI: $213,953, Annual Taxes: $20,347, Annual Insurance: $6,000, Other Expenses (Sewer, Gas/Heat): $5,500, Total Annual Expenses: $31,847. Now let’s look at the Value-Add Potential: Renovate units to achieve full market rents and unlock substantial upside. Comparable sales highlight the premium for renovated, centrally located apartments in Princeton. With current rents far below market, this property is a compelling value-add investment. And the location & Amenities? Prime Princeton Address: Walk to Princeton University, Nassau St shops, and Palmer Square dining, Parking: Convenient monthly options at nearby garages, Strong Rental Demand: Surrounded by top-tier shopping, dining, and cultural amenities. In Conclusion: This is a unique opportunity to acquire a well-located, high-upside multifamily asset in Princeton at a price per unit far below local condo sales. Benefit from strong in-place income, robust post-renovation returns, and Princeton’s historically strong appreciation. Contact us today for a full financial package and to schedule your tour.
Last checked:
As a licensed real estate brokerage, Estately has access to the same database professional Realtors use: the Multiple Listing Service (or MLS). That means we can display all the properties listed by other member brokerages of the local Association of Realtors—unless the seller has requested that the listing not be published or marketed online.
The MLS is widely considered to be the most authoritative, up-to-date, accurate, and complete source of real estate for-sale in the USA.
Estately updates this data as quickly as possible and shares as much information with our users as allowed by local rules. Estately can also email you updates when new homes come on the market that match your search, change price, or go under contract.
Checking…
•
Last updated Jul 9, 2025
•
MLS# NJME2062222 —
The Building
-
Year Built:1900
-
Year Built Source:Estimated
-
Roof:Shingle
-
New Construction:No
-
Construction Materials:Frame
-
Building Units Total:4
-
Structure Type:Detached
-
Historic:No
-
Architectural Style:Colonial
-
Accessibility Features:None
-
Foundation Details:Block
-
Basement:Yes
-
Basement Type:Full
-
Green Verification:No
-
Building Winterized:No
-
Total SqFt Source:Assessor
-
Total Below Grade SqFt Source:Assessor
Interior
-
Flooring Type:Ceramic Tile, Hardwood
-
Fireplace:No
-
Living Area SqFt Source:Assessor
Room Dimensions
-
Total SqFt:3516
-
Living Area SqFt:3,516 Sqft
Financial & Terms
-
Sale Type:Standard
-
Acceptable Financing:Cash, Conventional
-
Possession:Immediate
-
Section 8 Approved:1
Location
-
Directions:Use GPS.
-
Latitude:40.34901000
-
Longitude:-74.66337000
The Property
-
Property Subtype:Other
-
Property Type:Multi-Family
-
Property Attached:No
-
Lot Size Units:Square Feet
-
Lot Size Acres:0.06
-
Lot Size Source:Estimated
-
Lot Size Dimensions:45.00 x 0.00
-
Lot SqFt:2,788 Sqft
-
Exclusions:Tenant personal possessions
-
Zoning:R4
-
View:No
-
Other Structures:Above Grade, Below Grade
-
Waterview:No
-
Waterfront:No
-
Water Oriented:No
-
Water Access:No
-
Navigable Water:No
-
Tidal Water:No
-
Land Lease:No
-
Ground Rent Exists:No
-
Riparian Rights:No
Listing Agent
- Contact info:
- Agent phone:
- (609) 647-6838
- Office phone:
- (609) 924-1600
Taxes
-
Tax ID Number:14-00019 01-00006
-
Tax Year:2024
-
Tax Lot:00006
-
Tax Annual Amount:$20,347
-
Tax Assessed Value:$764,100
-
Total Taxes Payment Frequency:Annually
The Listing
Heating & Cooling
-
Cooling:No
-
Cooling Type:Window Unit(s)
-
Central Air:No
-
Cooling Fuel:Electric
-
Heating:Yes
-
Heating Type:Forced Air
-
Heating Fuel:Natural Gas
Utilities
-
Sewer/Septic:Public Sewer
-
Electric On Property:No
-
Hot Water:Natural Gas
-
Water Source:Public
Schools
-
School District Name:Princeton Regional Schools
The Community
-
Pool:No Pool
-
Pool Private:No
-
Spa:No
-
Association Recreation Fee:No
-
Municipal Trash:No
Parking
-
Garage:No
-
Type of Parking:On Street
-
Attached Garage:No
Extra Units
-
Other Units:Unit 1,Unit 2
-
Vacation Rental:No
-
Units Furnished:None
-
One Bedroom Units:6
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Sale history
Date | Event | Source | Price | % Change |
---|---|---|---|---|
7/7/25
Jul 7, 2025
|
Listed / Active | BRIGHT | $1,995,000 |