Victorian Duplex with Private
119-121 GRANDVIEW Avenue Pitman, NJ 08071
For Sale
$575,000
MULTI_FAMILY - Other - PITMAN, NJ
Property Size3,072 SF
Lot Size0.18 Acres
Price / SF$187.17
Days on Market97
Property Features for 119-121 GRANDVIEW Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Basement
Parking features
On Street, Driveway
Standard status
Active
Size
3,072 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Annual Amount
11985
Utilities
Heating system
Forced Air
Cooling system
Wall Unit(s)
Building Details
Year built
1920
Number of units
1
Building materials
Frame
Architectural style
Other
Listing Agency:
Keller Williams Realty
(856) 321-1212
Listed By:
Ronald W Halbruner Jr. · License #RS341208
(609) 602-5762
Added: Apr 24
Changed: Jul 13
Last Checked: Jul 29 at 2:06PM
MLS# NJGL2072282
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
119-121 Grandview Avenue is a Victorian duplex in Pitman, New Jersey, configured as two separate units with independent utilities. The property features high 9-foot ceilings and original interior details, along with updated exterior vinyl siding about 10 years ago, rebuilt front and back porches, and a fence separating the units for added privacy. Both units offer three bedrooms and a bonus finished attic that can function as a fourth bedroom, office, or studio. Each unit also has private outdoor space, including a deck and fenced-yard access, and each unit includes basement space; one unit’s basement is noted as unfinished with laundry and extensive shelving.
The home provides access and parking via two separate driveways, offering off-street parking for 6+ vehicles total. The setting is described as minutes from Rowan University and Inspira Medical Center, with the downtown/Uptown Pitman area and local destinations within a walkable distance.
For buyers, the property can suit an owner-occupant or investor seeking a duplex with a currently available unit for occupancy and an occupied unit with long-term tenancy indicated at over 20 years. The listing notes a potential option to divide into two separate townhomes, with the buyer responsible for confirming feasibility with the municipality and completing all required due diligence and approvals.
The home provides access and parking via two separate driveways, offering off-street parking for 6+ vehicles total. The setting is described as minutes from Rowan University and Inspira Medical Center, with the downtown/Uptown Pitman area and local destinations within a walkable distance.
For buyers, the property can suit an owner-occupant or investor seeking a duplex with a currently available unit for occupancy and an occupied unit with long-term tenancy indicated at over 20 years. The listing notes a potential option to divide into two separate townhomes, with the buyer responsible for confirming feasibility with the municipality and completing all required due diligence and approvals.
Key Highlights
- Victorian duplex built in 1920 with frame construction, forced‑air heating, and wall AC units.
- Two‑unit setup: potential separation into two townhomes since each unit has its own utilities, basement, attic, private backyard, and private driveway.
- Unit 121 available for occupancy with high 9‑foot ceilings, updated kitchen, updated bathroom floor, and replaced windows plus front/back doors.
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $60.8k | $19.80 |
| − Vacancy | −$3.2k | −$1.03 |
| EGI | $57.7k | $18.77 |
| − OpEx | −$17.3k | −$5.63 |
| NOI | $40.4k | $13.14 |
3,072 SF · lease $19.80/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$576.6K
$504.6K – $672.7K
NOI $40,364 @ 7.0% cap · market cap 7.02%
Second Best
Apartment 5plus
$513.0K
$448.8K – $598.5K
NOI $35,907 @ 7.0% cap · market cap 6.24%
Theoretical Best
Office A
$1.03M
$903.6K – $1.20M
NOI $72,284 @ 7.0% cap · market cap 12.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit Victorian duplex offers updated exterior improvements, separate utilities, and off-street parking across two driveways.
Where is this duplex located?
The property is located at 119-121 GRANDVIEW Avenue Pitman, NJ.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Victorian duplex built in 1920 with frame construction, forced‑air heating, and wall AC units.; Two‑unit setup: potential separation into two townhomes since each unit has its own utilities, basement, attic, private backyard, and private driveway.; Unit 121 available for occupancy with high 9‑foot ceilings, updated kitchen, updated bathroom floor, and replaced windows plus front/back doors.
