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$688,000

  • For Sale
  • Active
  • Multi-Family
  • 6 Total Beds
  • Updated 9 days ago
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481 Hamilton Street (Block 194, Lot 129) presents an exceptional value-add opportunity in Franklin Township's High-Business District (HBD) zone. Featuring a versatile multi-unit residential configuration, verified by Township as a legal use of pre-existing non-conforming 2-family. This property is ideally suited for investors, contractors, or buyers looking to maximize income potential. Situated on a high-visibility corridor close to local shopping, public transportation, and major commuter routes into New Brunswick, this property offers incredible upside. Property is being sold in 'as-is' condition. Bring your imagination and vision to unlock the full potential of this prime Somerset location! This well-maintained 2 family home offering the perfect blend of flexibility and income potential. The home features two bedroom, 1 full bath unit on lower level, and 2+2 bedrooms , 2 full bath room on top level. Driveway parking with large backyard. Perfect for a new owner to move right in while collecting rent from the other unit, or easily leased for additional cash flow. Separate gas and electric meters, tenants pay all utilities, includes heat, electricity, water, sewer, trash etc. Low taxes.A potential 7.3%+ cap rate

Full Property Details for 481 Hamilton St

General

  • Price: $688,000
  • Taxes: $4,516 (2025)
  • Status: Active
  • Type: Multi-Family
  • Source: Garden_State
  • MLS ID: 4055764
  • Updated: 9/29/2026
  • Added to Site: 12 day(s) ago

Interior

  • Number of Rooms: 10
  • Interior Features: Carbon Monoxide Detector, Fire Extinguisher, Smoke Detector, Wood Floors

Rooms

Bathrooms

  • Total Bathrooms: 3
  • Full Bathrooms: 3

Bedrooms

  • Total Bedrooms: 6

Exterior

  • Exterior Features: Curbs, Open Porch(es), Sidewalk, Storm Door(s)
  • Color: white

Parking

  • Garage Description: None

Location

  • County: Somerset
  • Driving Directions: Follow GPS. Hamilton St between Mile Run Rd and Veronica Ave. The property is located near the New Brunswick border.

School Information

  • Elementary School: PINE GROVE
  • Middle School: FRANKLIN
  • High School: FRANKLIN

Heating & Cooling

  • Cooling Type: Window A/C(s)
  • Heating Type: 2 Units, Baseboard - Hotwater
  • Heating Fuel: Natural Gas
  • Water Heater: Gas

Utilities

  • Sewer: Public Sewer
  • Water: Public Water
  • Utility Description: Electric, Natural Gas, Cable TV, Fiber Optic, Garbage Extra Charge

Structural Information

  • Architectural Style: 2-Two Story, See Remarks
  • Exterior Const.: Vinyl Siding
  • Basement: Yes
  • Basement Desc.: Full, Unfinished
  • Roof: Asphalt Shingles, See Remarks
  • Square Feet: 1,440
  • Year Built: 1950
  • Remodeled/Updated: 2026

Unit Information

Unit 1

  • Unit Description: Bedrooms, Kitchen, Living Room
  • Square Feet: 720
  • Levels/Stories: 1
  • Total Bathrooms: 1
  • Bedrooms: 2

Unit 2

  • Unit Description: Bedrooms, Family Room, Kitchen, Living Room
  • Square Feet: 720
  • Levels/Stories: 2
  • Total Bathrooms: 2
  • Bedrooms: 4

Lot Features

  • Lot Size (Acres): 0.08
  • Lot Dimensions: 36 x 100
  • Driveway/Sidewalk: 1 Car Width, Blacktop, Driveway-Exclusive, Off-Street Parking
  • Zoning: HBD
  • Lot Description: Level Lot

Financial Considerations

  • Expenses: Taxes
  • Operating Expenses: $7,200
  • Assessment Amount: $130,100
  • Land Assmt: $156,400
  • Tax Amount: $4,516
  • Tax Year: 2025

Disclosures and Reports

  • Disclosures: Yes
  • Block: 194
  • Lot Number: 129

Listed by Elite Realtors Of New Jersey

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Listing agent

— 481 Hamilton St —

  • Elite Realtors Of New Jersey

973-723-2015

Get Pre-Approved Today

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Schools serving 481 Hamilton St

School District:Franklin Township School District, Franklin Township, NJ
NameGradesDistance
Hillcrest Elementary School
500 Franklin Blvd, Franklin Township, NJ 08873
PK-51.1 mi
Conerly Road Elementary School
35 Conerly Road, Franklin Township, NJ 08873
PK-51.8 mi
Franklin Middle School
415 Francis Street, Franklin Township, NJ 08873
6-81.3 mi
Franklin Twp High School
500 Elizabeth Avenue, Franklin Township, NJ 08873
9-125 mi
Disclaimer: School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 481 Hamilton St Get Price Alerts and Save Property

Date
Details
Price
Change
Source
9/29/2026
Listed
$688,000
262.11%
MLS
11/05/2010
Sold
$190,000
—
Public Record
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 481 Hamilton St

Year
Property Taxes
Change
Tax Assessment
Change
2025
$4,517
11%
$286,500
12%
2024
$4,074
8%
$256,500
40%
2022
$3,760
—
$183,600
—
2022
$3,759
-9%
$183,600
—
2021
$4,113
-5%
$184,500
—
2018
$4,321
—
$184,500
—
2017
$4,338
-1%
$184,500
—
2016
$4,374
2%
$184,500
—
2019
$4,277
-2%
$184,500
—
2015
$4,345
3%
$184,500
—
2013
$4,221
—
$184,500
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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Listed by Elite Realtors Of New Jersey

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481 Hamilton St, Franklin Township, NJ 08873 (MLS# 4055764) is a Multi-Family property with 2 units containing 6 bedrooms and 3 full bathrooms. 481 Hamilton St is currently listed for $688,000 and was received on September 29, 2026. Want to learn more about 481 Hamilton St? Do you have questions about finding other Multi-Family real estate for sale in Franklin Township? You can browse all Franklin Township real estate or contact a Coldwell Banker agent to request more information.

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