17 --19 W Delaware Ave Pennington, NJ 08534

17 --19 W Delaware Ave, Pennington, NJ, 08534

$1,175,000

For Sale

$1,175,000

Five-unit multifamily property with upside potential in desirable Pennington Borough.

AddedMay 12

Days on Market65

Last RefreshJul 3 at 5:43 am

Property Features for 17 --19 W Delaware Ave

General Information

Standard status: Active
Property subtype: Commercial

Building Details

Year Built: 1860

Listing office ESTATELY INC

Listing date May 12, 2026

Source Corcoran

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

All listing content including descriptions, pricing, images are the copyrighted material of ESTATELY INC

Investment Insights

Based on property information with market context.

This well-maintained five-unit multifamily property is located in downtown Pennington Borough, a desirable community in Mercer County. The building features a mix of two 2-bedroom and three 1-bedroom apartments, offering an older construction style. Targeted capital investments have been made, including a new roof, upgraded electrical systems, solar panels, and renovated kitchens. The trailing 12-month gross revenue is $106,486, with a net operating income of $69,402, reflecting a 34.8% expense ratio. There is potential for organic rent growth of approximately $900 per month based on achieved rents within the building. An existing third-floor storage space presents a conversion opportunity to create a sixth income-producing unit at an estimated $1,500 per month. Municipal parking is available directly behind the building, and plentiful street parking supports tenant demand and retention. Pennington Borough offers top-rated schools, walkable downtown amenities, and convenient access to Route 31, I-95, and I-295, attracting quality, long-term tenants. This property is suited for a self-managing investor, 1031 exchange buyer, or value-add operator looking for a cash-flowing asset with upside in Central New Jersey.

Key Highlights

Prime location in desirable Pennington Borough with walkable downtown, top‑rated schools, and easy access to major routes.
Significant income upside potential through organic rent growth and conversion of storage space into a 6th unit.
Solid financial performance: $106,486 gross revenue and $69,402 net operating income with a lean 34.8% expense ratio.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Apartment buildings

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For sale
Apartment buildings
NJ
Pennington
08534
17 --19 W Delaware Ave

What type of property is this?

Apartment building - Five-unit multifamily property with upside potential in desirable Pennington Borough.

Where is this apartment building located?

The property is located at 17 --19 W Delaware Ave Pennington, NJ.

What is the asking price?

The asking price for this property is $1,175,000.

What are key features of this property?

This property features: Prime location in desirable Pennington Borough with walkable downtown, top‑rated schools, and easy access to major routes.; Significant income upside potential through organic rent growth and conversion of storage space into a 6th unit.; Solid financial performance: $106,486 gross revenue and $69,402 net operating income with a lean 34.8% expense ratio.