Somerville Two-Family Property Near
38 N Gaston Ave, Somerville, NJ 08876
New
Multi-Family, 2-Two Story - Somerville Boro, NJ
Property size:
3,000 SFLot size:
0.29 AcresPrice / SF:
$199/SF- Added:
- May 15, 2026
- Days on Market:
- 3
- Last Refresh:
- May 17 at 4:06 pm
Property Features for 38 N Gaston Ave
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 6
- Bathrooms
- 2
- Rooms
- Basement, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5, Family Room, Kitchen, Living Room
- Parking
- 13
- Parking features
- Driveway, Parking Lot
- Interior features
- Blinds, Carbon Monoxide Detector, Carpeting, Fire Extinguisher, See Remarks, Smoke Detector
- Exterior features
- Curbs, See Remarks, Sidewalk
- Basement Y/N
- 1
- Appliances
- Refrigerator
- Standard status
- Active
- Size
- 3,000 SF
- Lot size
- 0.29 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 18151
Utilities
- Heating system
- Forced Air, See Remarks (Heating)
- Cooling system
- Central Air, Multi Units
Building Details
- Year built
- 1989
- Number of units
- 2
- Building materials
- Aluminum Siding, Brick, See Remarks
- Roof type
- Flat, See Remarks
- Architectural style
- Other
- Additional Structures
- See Remarks
Listing agent JUAN CARLOS JIJON REZA (908) 296-8090
Listing office PREMIER HOMES 325 E. WESTFIELD AVE., Roselle Park, NJ (908) 296-8090
Listing date May 15, 2026
MLS# 4028128
Listing URL
Copyright © 2026 Garden State MLS, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Prime Location: Just 2 minutes from downtown Somerville, NJ, near Main Street, NJ Transit, Routes 22 & 202/206, and I‑287, with direct access to New York City.
- High Parking Capacity: Features 13 off‑street parking spaces.
- Two Spacious Units: Approximately 3,000 sq ft property with two move‑in‑ready units, each featuring 4 bedrooms and 1 bathroom (8 bedrooms and 2 bathrooms total).
- Rezoning Potential: Currently commercially zoned, with the owner having begun the process of rezoning to residential multi‑family.
- Full Basement: Offers a full basement with storage or potential finishing options.
- Well‑Maintained: Property is described as well‑maintained.
Overview
Located 2 minutes from downtown Somerville, New Jersey, this well-maintained two-family property is situated in a residential neighborhood. The property is commercially zoned, and the owner has initiated the process of rezoning it to residential multi-family, willing to proceed based on a buyer purchasing it as a two-family dwelling. The property offers approximately 3,000 square feet and features two move-in-ready units. Each unit includes 4 bedrooms and 1 bathroom, totaling 8 bedrooms and 2 bathrooms. Additional features include a full basement suitable for storage or potential finishing. The property also provides 13 off-street parking spaces. It is located near Main Street, NJ Transit, Routes 22 & 202/206, and I-287, offering access to New York City. The lot size is 0.29 acres.
Financial Insights
Value Estimation Calculated for Multifamily LT 5
Conservative
$475.7K
NOI $42,815 @ 9.00% cap · cautious / downside scenario
Moderate
$611.6K
NOI $42,815 @ 7.00% cap · market / base-case scenario
Aggressive
$856.3K
NOI $42,815 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Multifamily LT 5
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $64.8k | $21.60 |
| − Vacancy | −$3.6k | −$1.21 |
| EGI | $61.2k | $20.39 |
| − OpEx | −$18.3k | −$6.12 |
| NOI | $42.8k | $14.27 |
3,000 SF · lease $21.60/SF/yr · vacancy 5.61% · expense 30.00%
Alternative Use Scenarios
Best Use
Multifamily LT 5
$611.6K
$535.2K – $713.6K
NOI $42,815 @ 7.0% cap · market cap 7.15%
Second Best
Apartment 5plus
$532.3K
$465.8K – $621.1K
NOI $37,264 @ 7.0% cap · market cap 6.22%
Theoretical Best
Office A
$783.4K
$685.4K – $913.9K
NOI $54,835 @ 7.0% cap · market cap 9.15%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Somerville
- County
- Somerset
- State
- New Jersey
- Longitude
- -74.6030958
- Latitude
- 40.5674148
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Well-maintained 2-unit property near downtown Somerville with ample parking.
Where is this duplex located?
The property is located at 38 N Gaston Ave Somerville, NJ.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Prime Location: Just 2 minutes from downtown Somerville, NJ, near Main Street, NJ Transit, Routes 22 & 202/206, and I‑287, with direct access to New York City.; High Parking Capacity: Features **13 off‑street parking spaces**.; Two Spacious Units: Approximately 3,000 sq ft property with two move‑in‑ready units, each featuring 4 bedrooms and 1 bathroom (8 bedrooms and 2 bathrooms total).
