601 Water Street

Step into a unique investment opportunity located within the Princeton city limits, just off the historic town square. This versatile property offers approximately 5,500 total square feet and blends residential income potential with commercial possibilities. Built in 1890, the building showcases classic character while providing functional space for modern use. The property features two apartment units—one spacious two-bedroom and one comfortable one-bedroom—making it ideal for rental income or owner-occupancy. One of the apartments is currently occupied by tenants, offering immediate income potential. In addition to the residential units, the property includes a separate business space, perfect for retail, office use, or future development. A large storage room adds valuable flexibility for inventory, equipment, or expansion needs. With its prime location just steps from the square, this property benefits from high visibility and convenient access to local shops, dining, and community events. Whether you’re an investor looking to expand your portfolio or an entrepreneur seeking a live/work opportunity, this historic Princeton property delivers both charm and potential.