63 W Hudson Ave in Englewood is a condominium complex known as Estates of Englewood. I put unit A 11 on the market a few days ago for $139,000. This is a 1 bedroom condo apartment on the 2nd floor of what used to be a garden apartment complex.
Garden apartments were the subject of many condo and cooperative conversions in the mid to late 1980’s. In fact many older apartment buildings were also converted into such shared ownership entities. Estates of Englewood is popular for the following reasons: Commuting is easy and it’s convenient to local shopping.
NJ Transit has a bus stop 2 blocks away where you can take the 166 bus into the Port Authority Bus Terminal at 41st Street in Manhattan. and there’s also Coach USA’s 20 bus as well. During rush hour, commuting express buses will get you there in less than 1 hour most mornings.
This location is also very convenient for your basic needs. Within a 1-2 block walk you have nearly everything you’d need – dry cleaner, Walgreen’s, bagel/deli, luncheonette, coffee & pie shop, bank, Chinese takeout, liquor store and more. Major shopping including a new expanded Shoprite Supermarket is 1 mile away along with Englewood’s wonderful business district and the Bergen County Performing Arts Center.
Because Estates of Englewood is a well run complex and so conveniently located, many condo units there have been purchased by investors. 55% (according to Preferred Management) are not owner occupied so you can’t get a mortgage. When it comes to condo complexes, banks won’t loan unless the owner occupied rate is at least or over 50%.
Maintenance is $250 per month (includes heat and water) and there’s on site coin operated laundry. Property taxes are $3,940. Just contact me to see this affordable start in ownership or investing at 63 W Hudson Ave in Englewood.