267 Townsend Street
Property Description
Welcome to 267 Townsend Ave in New Brunswick, an incredible opportunity to own a well-maintained two-family property with strong income potential and flexible living options. This property is perfect for an owner-occupant looking to live in one unit while renting the other, or for an investor seeking a reliable income-producing asset in one of Middlesex County's most active rental markets. Each unit features a spacious layout with 3 bedrooms and 1 full bathroom, providing comfortable living space that tenants appreciate. Both apartments were updated in 2023, and the kitchens were refreshed in 2024, offering a more modern feel while maintaining the home's durability and functionality. The property currently generates $4,400 per month in rental income, with Unit 1 renting for $2,650 and Unit 2 renting for $2,650. Tenants are responsible for all utilities, including water, which helps keep owner expenses low and improves overall investment performance. The leases are currently month-to-month, offering flexibility for buyers, with tenants requiring a 90-day notice to relocate or begin new lease terms. Several important improvements have been made over the years, including new windows and new coil trim around the windows and fascia, updated electrical meters in 2007, and a sewer line replacement from the home to the street completed in 2009. The furnace is approximately 10+ years old, the water heater is approximately 5+ years old, and the roof is approximately 15+ years old. As an added incentive, the seller is offering a $10,000 seller concession which can be used toward closing costs, rate buy-downs, or potential upgrades, creating additional value for the next owner. Conveniently located near Rutgers University, major hospitals, downtown New Brunswick, shopping, dining, and transportation, this property offers excellent accessibility and consistent rental demand. Whether you are looking to build wealth through real estate investing or secure a home with built-in income potential, 267 Townsend Ave presents a fantastic opportunity. This location is within 9 minutes of the Rutgers Bus Stop on the corner of Geroge and New Street. Showings start 3/16/26.
Key Property Information
| Listing Status: | Under Contract |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $649,900 |
| Year Built: | 1920 |
| Lot Size: | 2,084.00 Sq ft |
| Opportunity Zone: | No |
| Property Website | Click Here |
| Number of Bedrooms: | 6 |
| Number of Bathrooms: | 2 |
ID: 3yd-MCMLSNJ-2661432M
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