215 Terrace Ave, Hasbrouck Heights, NJ 07604

This property at 215 Terrace Ave in Hasbrouck Heights, NJ, presents a significant investment opportunity, offering a versatile layout with three distinct residential units and dedicated office space. The commercial area, approximately 800 square feet, is currently configured for dental or medical practice, providing immediate business potential. The property includes an attached two-car garage, offering convenient parking and additional storage solutions. A basement area further enhances functionality with a dedicated laundry room.

The residential component of this income-generating property comprises one three-bedroom apartment and two two-bedroom apartments. This configuration offers substantial business potential for investors seeking to maximize rental income. Current rental rates for the residential units are below market value, indicating an opportunity for increased revenue. The three-bedroom unit is currently rented at $2,250 per month, with a potential market rent of approximately $3,100 to $3,200. One two-bedroom unit is vacant, with a potential market rent of approximately $2,700 to $2,800, while the other two-bedroom unit is rented at $1,790 per month, with a potential market rent of approximately $2,700 to $2,800. Additional income is also generated through the property's laundry facilities.

Numerous upgrades have been completed to enhance the property's value and operational efficiency. These include window replacements throughout, a new roof installed in 2009, and a new gas steam boiler in 2021. Further improvements include the replacement of entrance stairs for the office in 2021 and for the apartments in 2023, along with the renovation of the rear walkway in 2024. A new shower enclosure was installed in Unit 1 in 2025, demonstrating ongoing maintenance and modernization efforts.

The strategic location of 215 Terrace Ave provides excellent accessibility. Residents and businesses will benefit from convenient access to New York City transportation, major highways, a variety of shops and restaurants, local schools, and nearby airports. This combination of a well-maintained, income-producing property with a prime location makes it a unique opportunity for both investors and business owners looking to establish or expand their presence in Hasbrouck Heights.