- Overview
- Description
- Property Details
- Location
- Facts & Features
- Getting Around
Hot
Street View
$299,900
Monthly Est:$1,493
-- Bed
-- Bath
3,687sqft
60-62 Franklin St, Penns Grove, NJ 08069
$299,900
$1,493/moEst:
Get Pre-Approved
Duplex
Built in 1910
$-- HOA
10,363 sqft lot
$81/sq.ft
Description
INVESTOR OPPORTUNITY — TWO-UNIT DUPLEX WITH STRONG IN-PLACE INCOME & SIGNIFICANT RENTAL UPSIDE!
Whether you're a first-time investor looking to build your rental portfolio or an experienced investor searching for your next income-producing property, 60-62 Franklin Street offers an excellent opportunity to own a fully occupied duplex with two exceptionally large units and established tenants.
Each side features 6 bedrooms, providing substantial living space and strong rental potential. Both units are currently occupied, providing an investor with immediate rental income from day one while also offering potential upside as rents are brought closer to current market levels over time.
Unit 60 features a long-term tenant who has called the property home for more than 40 years. Current rent is $1,600 per month.
Unit 62 has been occupied by the current tenants since November 2023 and currently generates $1,800 per month in cash rent.
Combined, the property currently produces $3,400 per month, or $40,800 annually, in gross scheduled rental income.
The current rents also present an attractive opportunity for investors focused on long-term income growth. HUD's FY2026 Fair Market Rent data for ZIP Code 08069 indicates a $2,423 monthly FMR for a 4-bedroom unit. While HUD does not publish a separate standard FMR above four bedrooms, these properties offer six bedrooms per side, creating an interesting opportunity for an investor to evaluate the units based on their size, configuration, condition, and the local rental market.
With two occupied units, established rental history, Section 8 income on one side, and substantial bedroom counts, 60-62 Franklin Street is a property that can appeal to both the investor looking for immediate income and the investor looking to identify additional upside through future rent optimization.
Current Gross Income: $3,400/month | $40,800/year
Bring your investment strategy and take advantage of the opportunity to own a large, income-producing duplex in Penns Grove.
- Houzeo last checked: 55 minutes ago
- Listing updated: October 9, 2026 at 6:05 pm
- Listing Provided by: Harrison Coblentz (856) 628-6721 | Family Five Homes (856) 939-0668
- Source: Bright MLS-NJ | MLS#: NJSA2019906
Property Details
Status
Active
Type
Multi Family
No. of Stories
-
County
City
Neighborhood
--
Year Built
1910
HOA Fees
-
Finished Area
3,687 sqft
Lot Size
10,363 sqft lot
Basement Area
- sqft
MLS Name
Bright MLS
MLS Number
NJSA2019906
MLS Status
ACTIVE-BRIGHT
Days on Market
46
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Location
Facts & Features
Rooms
Bedrooms & bathrooms
Bedroom: --
Bathroom: --
Interior
Sewer
Public Sewer
Exterior Features
Sidewalks, Street Lights
Cooling
None
Heating
Radiator
Construction
Year Built
Year Built: 1910
Home type
Duplex
Foundation Details
Concrete Perimeter
Construction Materials
Vinyl Siding
Roof
Pitched, Shingle
Architectural Style
Other
Property Condition
Good
Utilities & Energy
Utilities
Cable Tv Available
Electric
100 Amp Service
Water Source
Public
Basement
Full, Unfinished
Other Features
Subdivision Name
None Available
Price History
| Date | Event | Price |
|---|---|---|
08/25/2026 Source: | Listed for Sale | $325,000 +8.37% $88/sqft |
08/25/2026 Source: | Price Increased | $299,900 +284.49% $81/sqft |
11/27/2019 Source: | Sold | $78,000 $21/sqft |
Find Homes by Property Features in Penns Grove, NJ
Based on information from Bright MLS through Nov 06, 2026, 07:00AM. Listing information is from various brokers who participate in the Bright MLS IDX program and not all listings may be visible on the site. The property information being provided on or through the website is for the personal, non-commercial use of consumers and such information may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on the website may no longer be available because they are for instance, under contract, sold or are no longer being offered for sale. Property information displayed is deemed reliable but is not guaranteed. IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. © 2026 Bright MLS, Inc. All Rights Reserved. Click here for more information
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