490 Hamilton St Somerset, NJ 08873

Property Details for 490 Hamilton St

Year built

1925

Construction

FRAME

Lot size

0.15 lot acres

Property size

1,825 SF

Zone code

HBD

Property type

Commercial real estate

APN

08 00183-0000-00006

APU

800183000000006

Description

This exceptional investment opportunity in Somerset, NJ, presents a 1,980 square foot multi-unit building situated on a 0.15-acre lot. The property features a detached two-car garage, providing ample parking. Currently, the second floor is occupied by a tenant paying a monthly rent of $2,300, generating a strong cash flow. The first floor, previously used as an office space, is currently vacant, offering significant potential for additional income. The building boasts a central air and furnace system, both installed in 2007, ensuring efficient climate control. Separate utility meters for each unit simplify billing and management. The property is priced competitively to facilitate a swift sale. The large lot size offers additional possibilities for expansion or outdoor improvements. This property is ideal for investors seeking a high-return investment with immediate income generation and significant upside potential. The combination of a strong tenant, vacant space for lease, and desirable location makes this a truly compelling opportunity. Don't miss out on this chance to acquire a profitable and well-maintained multi-unit property in a thriving market.

Location Insight

City

Somerset

County

Somerset

State

New Jersey

Longitude

-74.463

Latitude

40.495

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments