Income-Generating Multifamily Property Near
8 Prospect Street, New Brunswick, NJ 08901
MULTI_FAMILY - New Brunswick, NJ
Property size:
2,278 SFLot size:
0.06 AcresPrice / SF:
$263/SF- Added:
- May 8, 2026
- Days on Market:
- 51
- Last Refresh:
- Jun 27 at 2:06 am
Property Features for 8 Prospect Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R-5A
- Bathrooms
- 3
- Rooms
- Bathroom 2, Dining Room, Bathroom 1, Bathroom 3, Basement
- Patio and Porch features
- Patio, Deck
- Interior features
- Unit 1(Dining Room, 2 Bedrooms, Kitchen, 1 Bath, Living Room), Unit 2(1 Bedroom, Kitchen, 1 Bath, Living Room), Unit 3(1 Bedroom, Kitchen, 1 Bath, Living Room)
- Exterior features
- Patio, Deck
- Accessibility
- Accessible Approach with Ramp
- Appliances
- Water Heater(See Remarks, Gas), Water Heater, Unit 1(Range/Oven, Refrigerator), Unit 2(Range/Oven, Refrigerator), Unit 3(Range/Oven, Refrigerator)
- Standard status
- Active Under Contract
- APN
- 1300029000000034
- Size
- 2,278 SF
- Lot size
- 0.06 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 6696
Utilities
- Sewer type
- Public Sewer
- Cooling system
- Window Unit(s)
- Water source
- Public
Building Details
- Year built
- 1882
- Floors in Building
- 3
- Building materials
- Metal Siding
- Roof type
- Asphalt, Flat
Listing agent Shailender Ahlawat (732) 910-4707
Listing office HALO REALTY 216 STELTON ROAD, Bayville, NJ (908) 800-2446
Listing date May 8, 2026
MLS# 2614145R
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.
HighLights
- Income‑producing 3‑family with Unit 1 (2 BR/1 FB), Unit 2 (1 BR/1 FB), and Unit 3 (1 BR/1 FB)
- 2025 gross income $52,872 with NOI of $32,482.77 and cap rate of 5.41% (expenses $20,389.23)
- Newer flooring, new roof, updated fire escape, and rear stairs; owner invested nearly $50K in improvements over the past 5 years
- Separate electric and gas meters; tenants pay electric/gas while the owner pays water
- Metal siding exterior with flat/asphalt roof; cooling via window unit(s)
- Accessible approach with ramp; includes deck and patio
Overview
This multifamily property is located in New Brunswick, New Jersey, near the hospital and a short distance from NJ Transit trains. The property is a fully rented three-family building with a basement, offering cash flow. Unit 1 features 2 bedrooms, 1 full bathroom, a kitchen, and a living room, and is rented for $1,756 per month. Unit 2 includes 1 bedroom, 1 full bathroom, a kitchen, and a living room, and is rented for $1,350 per month. Unit 3 has 1 bedroom, 1 full bathroom, a kitchen, and a living room, and is rented for $1,300 per month. Units 1 and 2 have gas heat, while Unit 3 has electric heat. There are separate electric and gas meters. Tenants pay for electric and gas, while the owner pays for water. The property features newer flooring throughout, a new roof, and an updated fire escape and rear stairs. The owner has invested nearly $50,000 in improvements over the past 5 years. The gross income for 2025 is projected to be $52,872, with expenses of $20,389.23, resulting in a net operating income of $32,482.77 and a cap rate of 5.41%. The property is in a location near Rutgers University, hospitals, transportation, and downtown amenities. The lot size is 0.0574 acres, and the property size is 2278 square feet. The zoning is R-5A.
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 | $58.2k | $25.56 |
| − Vacancy | −$3.8k | −$1.65 |
| EGI | $54.5k | $23.91 |
| − OpEx | −$16.3k | −$7.17 |
| NOI | $38.1k | $16.74 |
2,278 SF · lease $25.56/SF/yr · vacancy 6.46% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$544.6K
$476.6K – $635.4K
NOI $38,125 @ 7.0% cap · market cap 6.35%
Second Best
Apartment 5plus
$500.4K
$437.9K – $583.9K
NOI $35,031 @ 7.0% cap · market cap 5.84%
Theoretical Best
Office A
$594.8K
$520.5K – $694.0K
NOI $41,638 @ 7.0% cap · market cap 6.94%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Location Insight
- Map
- Local Demand
- City
- New Brunswick
- County
- Middlesex
- State
- New Jersey
- Longitude
- -74.452375
- Latitude
- 40.4937273
Nearby Similar for Sale
FAQs
What type of property is this?
Triplex - Fully rented three-family property with strong cash flow potential.
Where is this triplex located?
The property is located at 8 Prospect Street New Brunswick, NJ.
What is the asking price?
The asking price for this property is $599,999.
What are key features of this property?
This property features: Income‑producing 3‑family with Unit 1 (2 BR/1 FB), Unit 2 (1 BR/1 FB), and Unit 3 (1 BR/1 FB); 2025 gross income $52,872 with NOI of $32,482.77 and cap rate of 5.41% (expenses $20,389.23); Newer flooring, new roof, updated fire escape, and rear stairs; owner invested nearly $50K in improvements over the past 5 years
