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$1,995,000
1 Day On Site

24 BANK STREET 26
PRINCETON, NJ 08542

For Sale|Multi Family|Active
6
Beds
0
Total Baths
3,516
SqFt
$567
/SqFt
1900
Built
County:
MERCER
Listing courtesy of BHHS Fox & Roach - Princeton
24 BANK STREET 2624 BANK STREET 2624 BANK STREET 2624 BANK STREET 26
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Monthly Payment (Est.)

$9,102
Calculator powered by Showcase IDX, a Constellation1 Company. Copyright ©2025 Information is deemed reliable but not guaranteed.

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.

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Listing Snapshot
Price 
$1,995,000
Days On Site 
1 Day
Bedrooms 
6
Inside Area (SqFt) 
3,516 sqft
Total Baths 
N/A
Full Baths 
N/A
Partial Baths 
N/A
Lot Size 
0.06 Acres
Year Built 
1900
MLS® Number 
NJME2062222
Status 
Active
Property Tax 
$20,347
HOA/Condo/Coop Fees 
N/A
Sq Ft Source 
Assessor
Friends & Family
Recent Activity
7 hours agoListing updated with changes from the MLS®
yesterdayListing first seen on site
General Features
Acres 
0.06
Foundation 
Block
Parking 
On Street
Pets 
No
Property Sub Type 
Multi Family
Sewer 
Public Sewer
Special Circumstances 
Standard
SqFt Above 
3516
SqFt Total 
3516
Style 
Colonial
Water Source 
Public
Zoning 
R4
Interior Features
Appliances 
Gas Water Heater
Basement 
Full
Flooring 
Ceramic TileHardwood
Furnished? 
None
Heating 
Natural GasForced Air
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Exterior Features
Construction Details 
Frame
Pool Features 
None
Roof 
Shingle
Community Features
MLS Area 
Princeton (21114)
School District 
PRINCETON REGIONAL SCHOOLS
Schools
School District
PRINCETON REGIONAL SCHOOLS
Elementary School
Unknown
Middle School
Unknown
High School
Unknown
Listing courtesy of BHHS Fox & Roach - Princeton



The real estate listing information is provided by Bright MLS is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumer may be interested in purchasing. Any information relating to real estate for sale or lease referenced on this web site comes from the Internet Data Exchange (IDX) program of the Bright MLS. This web site references real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. Properties in listings may have been sold or may no longer be available. The data contained herein is copyrighted by Bright MLS and is protected by all applicable copyright laws. Any unauthorized collection or dissemination of this information is in violation of copyright laws and is strictly prohibited. Copyright © 2020 Bright MLS. All rights reserved.

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