95 Mercer St
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95 Mercer St
4 Unit Apartment Building $1,250,000 ($312,500/Unit) 8.49% Cap Rate Hamilton, NJ 08690
Investment Highlights
- Very desirable area. Fully renovated. Premium property.
- Ample off-street parking.
- Quiet neighborhood.
Executive Summary
Gross Yield: 13%
Turnkey, completely renovated, fully tenanted and high-income producing property in very
desirable Hamilton Square, New Jersey.
Three houses, totaling 4,180 sq ft sit on 0.439 acres off historic Mercer Street.
Street-facing, two-story Victorian has two, three-bedroom apartments, with 1,672 sq ft
basement. One apartment is 1,444 sq ft with two baths. The other is 1,036 sq ft with a single
bath.
An 858 sq ft Cape-style home behind it has two bedrooms with one bath, and an 842 sq ft
Ranch in the rear has two bedrooms with one bath and a basement. Four rental units in total.
All homes were rehabbed top to bottom, inside and out in 2021. Including all-new mechanicals
and roofs. Ranch was re-sided. All have been rented since 2022. Leases are mid-term to
annual. Annual total rent roll for 2023 was $163,019.
The property also has a three-car detached garage. Each garage can be rented for $200/month.
Tax ID 03-01837-00012
Annual 2023 tax: $13,066
Block: 1837 Lots 12 and 3
Hamilton Square, Hamilton Township, New Jersey 08690
Acres: 0.439
Victorian, level 1: Unfurnished, three bedrooms, two baths, kitchen/dining, living, utility room
with washer-dryer
Victorian, level 2: Unfurnished, two bedrooms, one bath, kitchen/dining, living, enclosed porch,
washer/dryer
Victorian has fenced-in area under a shade tree for its tenants and pets. Large, open grass
backyard is perfect for walking pets.
Cape-style, Fully furnished, two bedrooms, one bath, kitchen/dining, living, basement,
washer/dryer, sliding-glass door with patio, mid-term leases
Ranch: Fully furnished, two bedrooms, one bath, kitchen/dining/living, basement, washer/dryer,
sliding-glass door
All units are occupied with mid-term or annual leases.
Laminate flooring in all units. Kitchens feature stainless steel appliances, gas ranges, granite or
quartz countertops. Dishwashers in some units. 55 in. flat panel TVs in furnished units. Cape
and Ranch also have TVs in bedrooms. Ceiling fans. Gas heat and hot water. All units are air
conditioned. All utilities are separately metered. Cable provided. Smart-Lock entry doors. Public
sewer and water.
All units have been certified lead free so never have to be inspected again for lead-based paint.
Units are a few blocks away from Hamilton Square and Rt 33 shopping. Sayen Park also is a
few blocks away. Quiet. Peaceful. Quintessential small-town feel, yet close to corporate
campuses, universities and a community college. Princeton is a 25-minute drive.
Mercer Street has a number of historically-recognized homes.
Leases, full financial information, lot survey and floor plans are available to serious buyers.
An additional residential rental property also is for sale in Southampton Township:
2 Sikoneses Trail Southampton New Jersey Gross Yield: 13.5%
Turnkey, completely renovated, fully tenanted and high-income producing property in very
desirable Hamilton Square, New Jersey.
Three houses, totaling 4,180 sq ft sit on 0.439 acres off historic Mercer Street.
Street-facing, two-story Victorian has two, three-bedroom apartments, with 1,672 sq ft
basement. One apartment is 1,444 sq ft with two baths. The other is 1,036 sq ft with a single
bath.
An 858 sq ft Cape-style home behind it has two bedrooms with one bath, and an 842 sq ft
Ranch in the rear has two bedrooms with one bath and a basement. Four rental units in total.
All homes were rehabbed top to bottom, inside and out in 2021. Including all-new mechanicals
and roofs. Ranch was re-sided. All have been rented since 2022. Leases are mid-term to
annual. Annual total rent roll for 2023 was $163,019.
The property also has a three-car detached garage. Each garage can be rented for $200/month.
Tax ID 03-01837-00012
Annual 2023 tax: $13,066
Block: 1837 Lots 12 and 3
Hamilton Square, Hamilton Township, New Jersey 08690
Acres: 0.439
Victorian, level 1: Unfurnished, three bedrooms, two baths, kitchen/dining, living, utility room
with washer-dryer
Victorian, level 2: Unfurnished, two bedrooms, one bath, kitchen/dining, living, enclosed porch,
washer/dryer
Victorian has fenced-in area under a shade tree for its tenants and pets. Large, open grass
backyard is perfect for walking pets.
Cape-style, Fully furnished, two bedrooms, one bath, kitchen/dining, living, basement,
washer/dryer, sliding-glass door with patio, mid-term leases
Ranch: Fully furnished, two bedrooms, one bath, kitchen/dining/living, basement, washer/dryer,
sliding-glass door
All units are occupied with mid-term or annual leases.
Laminate flooring in all units. Kitchens feature stainless steel appliances, gas ranges, granite or
quartz countertops. Dishwashers in some units. 55 in. flat panel TVs in furnished units. Cape
and Ranch also have TVs in bedrooms. Ceiling fans. Gas heat and hot water. All units are air
conditioned. All utilities are separately metered. Cable provided. Smart-Lock entry doors. Public
sewer and water.
All units have been certified lead free so never have to be inspected again for lead-based paint.
Units are a few blocks away from Hamilton Square and Rt 33 shopping. Sayen Park also is a
few blocks away. Quiet. Peaceful. Quintessential small-town feel, yet close to corporate
campuses, universities and a community college. Princeton is a 25-minute drive.
Mercer Street has a number of historically-recognized homes.
Leases, full financial information, lot survey and floor plans are available to serious buyers.
An additional residential rental property also is for sale in Southampton Township:
2 Sikoneses Trail Southampton New Jersey Gross Yield: 13.5%
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,250,000 | Property Subtype | Apartment |
| Price Per Unit | $312,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.44 AC |
| Cap Rate | 8.49% | Building Size | 4,180 SF |
| Gross Rent Multiplier | 7.66 | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1910/2021 |
| Price | $1,250,000 |
| Price Per Unit | $312,500 |
| Sale Type | Investment |
| Cap Rate | 8.49% |
| Gross Rent Multiplier | 7.66 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.44 AC |
| Building Size | 4,180 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1910/2021 |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Dishwasher
- Fireplace
- Microwave
- Washer/Dryer
- Heating
- Ceiling Fans
- Eat-in Kitchen
- Kitchen
- Granite Countertops
- Vaulted Ceiling
- High Speed Internet Access
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
- Wi-Fi
- Basement
- Coffee System
- Double Pane Windows
- Lawn
- Porch
- Skylights
- Smoke Free
- Workshop
Site Amenities
- Furnished Units Available
- Pet Play Area
- Trash Pickup - Curbside
- Wi-Fi
- Private Bathroom
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 10+5 | 4 | - | 1,000 |
1 of 1
PROPERTY TAXES
| Parcel Number | 03-01837-0000-00012 | Total Assessment | $395,600 (2024) |
| Land Assessment | $122,000 (2024) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $273,600 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
03-01837-0000-00012
Land Assessment
$122,000 (2024)
Improvements Assessment
$273,600 (2024)
Total Assessment
$395,600 (2024)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2023
zoning
| Zoning Code | R10 (Three houses on one lot. Secondary lot not used.) |
| R10 (Three houses on one lot. Secondary lot not used.) |
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