Coldwell Banker Home Page

Local Realty Service Provided By: Coldwell Banker Bud Church Realty, Inc.

Property view
Listing view 2
Listing view 3

60-62 Franklin St, 
Penns Grove, NJ 08069

$325,000


Bed


Bath


3,687

Sq Ft


Multi-Family

Active

Listed by

Harrison Coblentz

Family Five Homes, 8569390668, familyfivehomes@comcast.net

Last updated:

September 17, 2026, 01:42 PM

MLS#

NJSA2019906

Source:

BRIGHTMLS

About This Home

60-62 Franklin St

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.

Home Facts

Multi-Family

Built in 1910

Subdivision & Development:

NONE AVAILABLE

Price Summary

325,000

$88 per Sq. Ft.

MLS #:

NJSA2019906

Last Updated:

September 17, 2026, 01:42 PM

Added:

24 day(s) ago


Structure

Structure

Building Area:

3,687 Sq. Ft.

Year Built:

1910


Lot

Lot Size (Sq. Ft):

10,454


Finances & Disclosures

Finances

Price:

$325,000

Price per Sq. Ft:

$88 per Sq. Ft.

Source:BRIGHTMLS
The information being provided by Bright Mls is for the consumer’s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The information is deemed reliable but not guaranteed and should therefore be independently verified. © 2026 Bright Mls All rights reserved.

Contact an Agent

Yes, I would like more information. Please use and/or share my information with a Coldwell Banker ® affiliated agent to contact me about my real estate needs. By clicking Contact, I request to be contacted by phone or text message and consent to being contacted by automated means. I understand that my consent to receive calls or texts is not a condition of purchasing any property, goods, or services. Alternatively, I understand that I can access real estate services by email or I can contact the agent myself.

If a Coldwell Banker affiliated agent is not available in the area where I need assistance, I agree to be contacted by a real estate agent affiliated with another brand owned or licensed by Anywhere Real Estate (BHGRE®, CENTURY 21®, Corcoran®, ERA®, or Sotheby's International Realty®). I acknowledge that I have read and agree to the terms of use and privacy notice.

Contact an Agent

Yes, I would like more information. Please use and/or share my information with a Coldwell Banker ® affiliated agent to contact me about my real estate needs. By clicking Contact, I request to be contacted by phone or text message and consent to being contacted by automated means. I understand that my consent to receive calls or texts is not a condition of purchasing any property, goods, or services. Alternatively, I understand that I can access real estate services by email or I can contact the agent myself.

If a Coldwell Banker affiliated agent is not available in the area where I need assistance, I agree to be contacted by a real estate agent affiliated with another brand owned or licensed by Anywhere Real Estate (BHGRE®, CENTURY 21®, Corcoran®, ERA®, or Sotheby's International Realty®). I acknowledge that I have read and agree to the terms of use and privacy notice.