USANJPenns GroveNone Available62-60-62 Franklin St

62-60-62 Franklin St, PENNS GROVE, NJ

Name: 62 - 60-62 Franklin St, For Sale in PENNS GROVE - eXp Realty
Brand: FAMILY FIVE HOMES
SKU: NJSA2019906
Price: 299900 USD

Real Estate

For Sale

Listed price in listed location currency (USD).

$299,900

000

MLS® NJSA2019906

Key Facts
Description
Map

Key Facts

Type Duplex

Levels Residential Income

Size 3687 sqft

Garage No

Taxes $4,519

Days Active 46

Lot Size 0.23999999463558197 Acres

Approx. Age 1910

Avg. Price Per Sqft $81

MLS® Number NJSA2019906

Property Address: 62-60-62 Franklin St, PENNS GROVE, NJ, 08069-1339

Average square foot calculated using Size range provided by listing agent.

Description

INVESTOR OPPORTUNITY — TWO-UNIT DUPLEX WITH STRONG IN-PLACE INCOME & SIGNIFICANT RENTAL UPSIDE! Whether you're a first-time investor looking to build your rental portfolio or an experienced investor searching for your next income-producing property, 60-62 Franklin Street offers an excellent opportunity to own a fully occupied duplex with two exceptionally large units and established tenants. Each side features 6 bedrooms, providing substantial living space and strong rental potential. Both units are currently occupied, providing an investor with immediate rental income from day one while also offering potential upside as rents are brought closer to current market levels over time. Unit 60 features a long-term tenant who has called the property home for more than 40 years. Current rent is $1, 600 per month. Unit 62 has been occupied by the current tenants since November 2023 and currently generates $1, 800 per month in cash rent. Combined, the property currently produces $3, 400 per month, or $40, 800 annually, in gross scheduled rental income. The current rents also present an attractive opportunity for investors focused on long-term income growth. HUD's FY2026 Fair Market Rent data for ZIP Code 08069 indicates a $2, 423 monthly FMR for a 4-bedroom unit. While HUD does not publish a separate standard FMR above four bedrooms, these properties offer six bedrooms per side, creating an interesting opportunity for an investor to evaluate the units based on their size, configuration, condition, and the local rental market. With two occupied units, established rental history, Section 8 income on one side, and substantial bedroom counts, 60-62 Franklin Street is a property that can appeal to both the investor looking for immediate income and the investor looking to identify additional upside through future rent optimization. Current Gross Income: $3, 400/month | $40, 800/year Bring your investment strategy and take advantage of the opportunity to own a large, income-producing duplex in Penns Grove.

MLS® NumberNJSA2019906

Laundry LevelHookup

Central VacNo

FireplaceNo

Acreage0.24

Exterior

GarageNo

Approx. Age1910

BasementFull, Unfinished

DrivewayOn Street

Garage Spaces

HeatRadiator, Oil

A/CNone, Electric

Extras

Price History

-End Date

Not Sold YetSold Price

For Sale

Aug 25, 2026List Date

$299,900List Price

Commute

Commute

Starting Address

Destination Address

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