Custom 3-Family
262 Prospect Avenue Dunellen, NJ 08812
262 Prospect Avenue, Dunellen, NJ, 08812
$1,199,000
For Sale
$1,199,000
MULTI_FAMILY - Dunellen, NJ
Property Size5,571 SF
Lot Size0.19 Acres
Price / SF$215.22
Days on Market18
Property Features for 262 Prospect Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bathrooms
- 7
- Rooms
- Bathroom 1, Bathroom 4, Bathroom 2, Dining Room, Bathroom 7, Bathroom 3, Bathroom 6, Family Room, Bathroom 5, Den, Basement
- Parking features
- Garage, Oversize
- Window features
- Insulated Windows, Blinds
- Patio and Porch features
- Deck, Patio, Porch
- Interior features
- Unit 1(2 Bedrooms, Kitchen, 1 Bath, Living Room), Unit 2(3 Bedrooms, Kitchen, Living Room, 2+ Baths, Den/Family Room), Unit 3(Dining Room, 3 Bedrooms, Kitchen, Living Room, 2+ Baths, Den/Family Room)
- Exterior features
- Patio, Barn/Stable, Curbs, Porch(es) - Open, Deck, Door(s)-Storm/Screen, Sidewalk, Fencing/Wall, Windows - Insulated Pane, Yard, Blinds, Porch, Private Entrance, Storage Area-Common, Storage Area-Private
- Fencing
- Fenced
- Appliances
- Water Heater(Gas), Water Heater, Unit 1(Dryer, Range/Oven, Refrigerator, Washer), Unit 2(Dryer, Range/Oven, Refrigerator, Washer), Unit 3(Dryer, Range/Oven, Refrigerator, Washer)
- Standard status
- Active
- APN
- 0300064000000001
- Size
- 5,571 SF
- Lot size
- 0.19 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 16081
Utilities
- Sewer type
- Public Sewer
- Heating system
- Zoned, Forced Air
- Cooling system
- Attic Fan, Central Air
- Water source
- Public
Building Details
- Year built
- 1935
- Floors in Building
- 3
- Building materials
- Stone, Vinyl Siding
- Roof type
- Asphalt
- Additional Structures
- Storage
Listing Agency
ERA BONIAKOWSKI REAL ESTATE
(732) 968-0700
929 WASHINGTON AVE, Green Brook, NJ
Listed by
Thomas Boniakowski · License #8331807
(732) 968-0700
Added: Jul 1 Checked: Jul 18 at 2:06 am
MLS# 2618006R
Listing URL
Copyright © 2026 All Jersey 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.
This completely rebuilt and expanded 3-family residence (completed in 2018) offers a custom-home feel with independent apartment living. All three apartments have been renovated with quality finishes, including hardwood flooring, modern kitchens, updated bathrooms, new Andersen windows, private laundry, and separate utilities. Unit #3 is the showpiece, spanning more than 2,500 square feet across three levels and offering 3+ bedrooms and 4 full bathrooms, along with an attached garage. Outside, the property features professionally designed paver patios, a covered pergola, abundant off-street parking, and a newly rebuilt barn/garage with extensive storage space.
Located at 262 Prospect Avenue in Dunellen, New Jersey (Middlesex County), the property sits on a 0.186-acre lot and is configured for straightforward day-to-day access with plentiful off-street parking. The detached/barn structure adds practical on-site storage for tenants or personal use.
For owner-occupants or investors, the combination of three renovated units with private laundry and separate utilities supports flexible use and day-to-day management. The current annual rental income exceeds $112,000, and the property’s extensive rebuild and thoughtful upgrades help position it for long-term reliability in a turnkey condition.
Located at 262 Prospect Avenue in Dunellen, New Jersey (Middlesex County), the property sits on a 0.186-acre lot and is configured for straightforward day-to-day access with plentiful off-street parking. The detached/barn structure adds practical on-site storage for tenants or personal use.
For owner-occupants or investors, the combination of three renovated units with private laundry and separate utilities supports flexible use and day-to-day management. The current annual rental income exceeds $112,000, and the property’s extensive rebuild and thoughtful upgrades help position it for long-term reliability in a turnkey condition.
Key Highlights
- 3‑family property rebuilt and expanded in 2018, with Year Built listed as 1935
- Unit 1: 2 bedrooms, 1 bath; each unit includes kitchen, living room, and private laundry
- Unit 2: 3 bedrooms with kitchen and living room, plus 2+ baths and den/family room
Local 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 | $142.4k | $25.56 |
| − Vacancy | −$9.2k | −$1.65 |
| EGI | $133.2k | $23.91 |
| − OpEx | −$40.0k | −$7.17 |
| NOI | $93.2k | $16.74 |
5,571 SF · lease $25.56/SF/yr · vacancy 6.46% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.33M
$1.17M – $1.55M
NOI $93,237 @ 7.0% cap · market cap 7.78%
Second Best
Apartment 5plus
$1.22M
$1.07M – $1.43M
NOI $85,671 @ 7.0% cap · market cap 7.15%
Theoretical Best
Office A
$1.45M
$1.27M – $1.70M
NOI $101,829 @ 7.0% cap · market cap 8.49%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Completely rebuilt in 2018 with renovated apartments, private laundry, and separate utilities to simplify ownership.
Where is this triplex located?
The property is located at 262 Prospect Avenue Dunellen, NJ.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: 3‑family property rebuilt and expanded in 2018, with Year Built listed as 1935; Unit 1: 2 bedrooms, 1 bath; each unit includes kitchen, living room, and private laundry; Unit 2: 3 bedrooms with kitchen and living room, plus 2+ baths and den/family room
