60-62 Franklin Street, PENNS GROVE, New Jersey image 1

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MLS: #NJSA2019906, Listed By: Harrison Coblentz, Family Five Homes, Source:Bright MLS

60-62 Franklin Street

PENNS GROVE, NJ 08069

$325,000 $1,370/Mo

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Overview

Bed

Bath

3,687

Sqft

0.24

Acre(Lot)

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 i s $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.

Property Details

Property Type : Residential Income

Price : $325,000

AD Id : 90040615

MLS Id : NJSA2019906

Lot Size : 0.24 Acre

Living Area Size : 3,687

Tax Amount : 4519.00

Year Built : 1910

County : SALEM

Subdivision: None Available

Map

What's Nearby

Nearby Areas

Features

Room Information

Has Basement: Yes Basement: Full, Unfinished
Roofing Information

Shingle
Interior Features

Roof: Shingle Appliances: Electric Water Heater
Heating & Cooling

Has Heating: Yes Heating: Oil, Radiant Has Cooling: Yes Cooling: None, Electric

Building Information

Year Built: 1910 Building Area Total: 3687 Construction Materials: Vinyl Siding Pool Features: None Private Pool: No

Lot Information

Lot Dimensions: 58X178 Lot Size Acres: 0.24 Lot Size Source: Assessor Lot Size Square Feet: 10363

Property Information

Subdivision: NONE AVAILABLE Source Property Type: Residential Income Postal Code Plus 4: 1339 Property SubType: Duplex Property Age: 116

Listing Price Information

Listing Price: $325000

Tax Information

Parcel Number: 08-00050-00006 Tax Lot: 00006 Tax Year: 2025 Annual Tax: $4519

Parking Information

On Street

School Information

Elementary School: FIELD STREET SCHOOL

Junior High School: PENNS GROVE

Senior High School: PENNS GROVE
Utility Information

Cable Available
Location Information

Direction: GPS WaterSource: Public

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Nearby Home Value

Address	Estimate	Bed	Bath	Sq. Ft	Lot Size
6 Franklin Street, Penns Grove, NJ, 08069	$229,900	6	--	2,419	0.16 Acre

The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which ByOwner participates, and is provided by BRIGHT through a licensing agreement. The information provided by this website is for the personal, non-commercial use of consumers and 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 this website may no longer be available because they are under contract, have closed or are no longer being offered for sale. Information Deemed Reliable But Not Guaranteed. Copyright © 2026 Bright MLS. All rights reserved.

ByOwner last updated this listing 09/08/2026 @ 21:07

MLS: NJSA2019906 LISTED BY: Harrison Coblentz, Family Five Homes 856-939-0668 SOURCE: Bright MLS

60-62 Franklin Street

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