481 Hamilton St
Franklin Twp, NJ 08873
Price: $688,000
GSMLS: 4055764Type: Multi-Family
Style: 2-Two Story, See Remarks
Total Units: 2
Beds: 6
Baths: 3 Full
Garage: No
Year Built: 1950
Acres: 0.08
Property Tax: $4,516
Description
481 Hamilton Street (Block 194, Lot 129) presents an exceptional value-add opportunity in Franklin Township's High-Business District (HBD) zone. Featuring a versatile multi-unit residential configuration, verified by Township as a legal use of pre-existing non-conforming 2-family. This property is ideally suited for investors, contractors, or buyers looking to maximize income potential. Situated on a high-visibility corridor close to local shopping, public transportation, and major commuter routes into New Brunswick, this property offers incredible upside. Property is being sold in 'as-is' condition. Bring your imagination and vision to unlock the full potential of this prime Somerset location! This well-maintained 2 family home offering the perfect blend of flexibility and income potential. The home features two bedroom, 1 full bath unit on lower level, and 2+2 bedrooms , 2 full bath room on top level. Driveway parking with large backyard. Perfect for a new owner to move right in while collecting rent from the other unit, or easily leased for additional cash flow. Separate gas and electric meters, tenants pay all utilities, includes heat, electricity, water, sewer, trash etc. Low taxes.A potential 7.3%+ cap rate
General Info
Style:
2-Two Story, See Remarks
SqFt Building:
1,440
Total Rooms:
10
Basement:
Yes - Full, Unfinished
Interior:
Carbon Monoxide Detector, Fire Extinguisher, Smoke Detector, Wood Floors
Roof:
Asphalt Shingle, See Remarks
Exterior:
Vinyl Siding
Lot Size:
36X100
Lot Desc:
Level Lot
Parking
Garage Capacity:
No
Description:
None
Parking:
1 Car Width, Blacktop, Driveway-Exclusive, Off-Street Parking
Spaces Available:
2
Unit 1
Bedrooms:
2
Bathrooms:
1
Total Rooms:
4
Room Description:
Bedrooms, Kitchen, Living Room
Levels:
1
Square Foot:
n/a
Fireplaces:
n/a
Appliances:
Carbon Monoxide Detector, Range/Oven - Gas, Refrigerator, Smoke Detector
Utilities:
Owner Pays Water, Tenant Pays Electric, Tenant Pays Gas, Tenant Pays Heat
Handicap:
No
Unit 2
Bedrooms:
4
Bathrooms:
2
Total Rooms:
7
Room Description:
Bedrooms, Family Room, Kitchen, Living Room
Levels:
2
Square Foot:
n/a
Fireplaces:
n/a
Appliances:
Carbon Monoxide Detector, Range/Oven - Gas, Refrigerator, Smoke Detector
Utilities:
Owner Pays Water, Tenant Pays Electric, Tenant Pays Gas, Tenant Pays Heat
Handicap:
No
Unit 3
Bedrooms:
n/a
Bathrooms:
n/a
Total Rooms:
n/a
Room Description:
n/a
Levels:
n/a
Square Foot:
n/a
Fireplaces:
n/a
Appliances:
n/a
Utilities:
n/a
Handicap:
n/a
Unit 4
Bedrooms:
n/a
Bathrooms:
n/a
Total Rooms:
n/a
Room Description:
n/a
Levels:
n/a
Square Foot:
n/a
Fireplaces:
n/a
Appliances:
n/a
Utilities:
n/a
Handicap:
n/a
Utilities
Heating:
2 Units, Baseboard - Hotwater
Heating Fuel:
Gas-Natural
Cooling:
Window A/C(s)
Water Heater:
Gas
Water:
Public Water
Sewer:
Public Sewer
Utilities:
Electric, Gas-Natural
Services:
Cable TV, Fiber Optic, Garbage Extra Charge
School Information
Elementary:
PINE GROVE
Middle:
FRANKLIN
High School:
FRANKLIN
Community Information
County:
Somerset
Town:
Franklin Twp.
Neighborhood:
n/a
Financial Considerations
List Price:
$688,000
Tax Amount:
$4,516
Land Assessment:
$156,400
Build. Assessment:
$130,100
Total Assessment:
$286,500
Tax Rate:
1.68
Tax Year:
2025
Listing Information
MLS ID:
4055764
List Date:
09-29-2026
Days On Market:
0
Listing Broker:
ELITE REALTORS OF NEW JERSEY
Listing Agent:
Xianghui Lotus Zhang
Request More Information
Shawn and Diane Fox
RE/MAX American Dream
3108 Route 10 West
Denville, NJ 07834
Call: (973) 277-7853
Web: FoxHillsRockaway.com
