About 481 Hamilton St
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
Features of 481 Hamilton St
| MLS® # | 4055764 |
|---|---|
| Price | $688,000 |
| Bedrooms | 6 |
| Bathrooms | 3.00 |
| Full Baths | 3 |
| Square Footage | 1,440 |
| Acres | 0.08 |
| Year Built | 1950 |
| Type | Multi-Family |
| Style | 2-Two Story, See Remarks |
| Status | Active |
Community Information
| Address | 481 Hamilton St |
|---|---|
| City | Franklin Twp. |
| County | Somerset |
| State | NJ |
| Zip Code | 08873-2663 |
Amenities
| Utilities | Electric, Gas-Natural |
|---|---|
| Parking Spaces | 2 |
| Parking | 1 Car Width, Blacktop, Driveway-Exclusive, Off-Street Parking |
| Garages | None |
| Has Pool | No |
Interior
| Interior Features | Carbon Monoxide Detector, Fire Extinguisher, Smoke Detector, Wood Floors |
|---|---|
| Heating | Gas-Natural |
| Fireplace | No |
| Has Basement | Yes |
| Basement | Full, Unfinished |
Exterior
| Exterior | Vinyl Siding |
|---|---|
| Exterior Features | Curbs, Open Porch(es), Sidewalk, Storm Door(s) |
| Roof | Asphalt Shingle, See Remarks |
School Information
| Elementary | PINE GROVE |
|---|---|
| Middle | FRANKLIN |
| High | FRANKLIN |
Additional Information
| Date Listed | September 29th, 2026 |
|---|---|
| Zoning | HBD |