Price cut
$1,199,000
0 bd · 7 ba · 5,571 sqft · 16,200 sqft lot
262 Prospect Ave, Dunellen, NJ 08812
Multi-family · Built 1935 · $215/sqft ·
$7,502/mo est. payment
- Garage
- 2 cars
- Stories
- 3
3D tourFlood factor 1/10
About this home
Rare 3 unit in Dunellen, completely rebuilt and expanded in 2018. Every unit has hardwood floors, an updated kitchen and bath, Andersen windows, its own laundry, and separate utilities. Unit 1 offers 2 bedrooms, 1 bath, and a sunny breakfast nook, all on one level. Unit 2 offers 3 bedrooms and 2 baths, plus finished third-floor space. Unit 3 is the standout: three levels with a 23' primary suite, 3+ bedrooms, 4 full baths, a fireplace, an enclosed porch, finished attic space, and an attached garage with a loft above. It lives like its own house. Live in one unit and let the other two help pay the mortgage, or hold all three as a turnkey investment. Current gross rents are $112,800 a year, approx. 7% cap rate, and tenants pay all of their own utilities. Outside you'll find paver patios, a covered pergola, a deck, parking for 6, and a huge barn/garage with loft storage and workshop space. Natural gas, central air, public water and sewer. The back of the property is in a flood zone.
Facts and features
Bedrooms
- Bedrooms: 0
Other Rooms
- Total Rooms: 17
- Basement Description: Partial, Storage Space, Interior Entry
Bathrooms
- Total Bathrooms: 7
- Full Bathrooms: 7
Interior Features
- Unit 1(2 bedrooms
- Kitchen
- 1 bath
- Living room)
- Unit 2(3 bedrooms
- Kitchen
- Living room
- 2+ baths
Appliances
- Water heater(gas)
- Water heater
- Unit 1(dryer
- Range/oven
- Refrigerator
- Washer)
- Unit 2(dryer
- Range/oven
Heating and Cooling
- Cooling Features: A/C Central - All, A/C Multi-Zone, Attic Fan, Separate Control, Unit 1(A/C Central), Unit 2(A/C Central), Unit 3(A/C Central)
- Heating Features: Zoned, Forced Air, Separate Control, Separate Furnaces
- Heating: Yes
Exterior and Lot Features
- Patio
- Porch(es) - enclosed
- Porch(es) - open
- Deck
- Windows - insulated pane
- Yard
- Outbuilding(s)
- Private entrance
Garage and Parking
- Attached Garage: Yes
- Covered Spaces: 2
- Garage Spaces: 2
- Parking Features: Garage, Attached, Detached, Garage Door Opener, 4(+)Car Parking
Schools
- 6
John P. Faber Elementary School
elementary · K-5 · 0.3 mi
- 4
Lincoln Middle School
middle · 6-8 · 0.4 mi
- 3
Dunellen High School
high · 9-12 · 0.5 mi
New Life Christian School
elementary · K-6 · 0.2 mi
Precious Moments Academy
elementary · PK-K · 0.4 mi
Our Lady of Fatima School
elementary · K-8 · 0.6 mi
Price history
- Oct 19, 2026 · Listing Removed$1,199,000
- Oct 15, 2026 · Listed$1,199,000
- Jan 3, 2017 · Listing Removed$264,900
- Nov 22, 2016 · Listed$264,900
Where it is
Listed by Gisel Lainez-Jimenez · EXP REALTY, LLC · AllJerseyMLS
