51 West Somerset Street

Raritan, NJ 08869

$495,000
Price
2
Beds
1
Bath
1
1/2 Bath
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

Price Reduced! Location! Location! Location! In the middle of thriving Raritan downtown next to Somerville. Amazing Mix Use Building. 1st Floor is a Retail Store. 2nd Floor is a 2 Bedroom Apartment. Large Storage Shed & Parking in Back. Separate Utilities except water. Below market rent. Low Taxes. Potential Rental Income $45,600. Building is only 4 Blocks to Raritan Train Station, just a short 6 minutes walk. Plus access to a Great School System. Motivated Seller, make offer.Price Reduced! Location! Location! Location! In the middle of thriving Raritan downtown next to Somerville. Amazing Mix Use Building. 1st Floor is a Retail Store. 2nd Floor is a 2 Bedroom Apartment. Large Storage Shed & Parking in Back. Separate Utilities except water. Below market rent. Low Taxes. Potential Rental Income $45,600. Building is only 4 Blocks to Raritan Train Station, just a short 6 minutes walk. Plus access to a Great School System. Motivated Seller, make offer.
  1. Listed by NADEEM QAVI • RE/MAX COMPETITIVE EDGE

Property Details for 51 West Somerset Street

Directions
Rte 287 or Rte 22 to Rte 206 to Somerset St
Days On Market
43
Section/Subdiv/Development
Downtown

Location

Listing Courtesy of RE/MAX COMPETITIVE EDGE, NADEEM QAVI
Add your commute
LISTING UPDATED: 03/22/2024 09:01 PM

Property Details for 51 West Somerset Street

StatusUnder Contract
MLS #3885316
Days on Market43
Taxes$6,158 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family / 2-Two Story
Year Built1940
Lot Size0.06 AC / 2,613 SF
CountySomerset County

Location

Listing Courtesy of RE/MAX COMPETITIVE EDGE, NADEEM QAVI
Add your commute

Building Information for 51 West Somerset Street

Stories-Residences2Year Built1940Building Size-Lot Size0.06 AC / 2,613 SF

Payment Calculator

$3,215 per month

30 year fixed, 7.25% Interest

Principal and Interest

$2,701

Property Taxes

$513

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 51 West Somerset Street

Summary
Location and General Information
  • Active Days on Market: 43
  • County #: Somerset
  • Town Name: Raritan Boro
  • Block Identifier: 105
  • Listing Type: Exclusive Right to Sell
  • Town #: 2716.0
  • Street # Display: 51.0
  • # Parking Spaces: 3
  • County Or Parish: Somerset
  • Street Name: W Somerset St
  • Zip Code: 08869-2026
  • Total Units: 2
Taxes and HOA Information
  • Assess Total Tax: *
  • Assess Amt Land Tax: *
  • Assess Amt Bldg Tax: *
  • Block ID Tax: *
  • Acres Tax: *
  • County Tax: *
  • Tax Amount: $6,158
  • Street name Tax: *
  • Zip Code Tax: *
  • Street # Tax: *
  • City Tax: *
  • Tax Amount Tax: *
  • Assessment Total: 216300.0
  • Tax ID For Property: 2716-00105-0000-00003-0000-
  • Tax Rate Amount: $3
  • Tax Rate Tax: *
  • Tax Rate Year: 2023
  • Tax Year: 2023
  • Tax Year Tax: *
  • Lot ID Tax: *
  • Lot Size Tax: *
Parking
  • Parking/Driveway Description: Blacktop
Property
Lot Information
  • Lot Description: Level Lot
  • Lot Identifier: 3
  • Approximate Lot Size: 22X120
  • Total Acres: 0.06
  • Construction Date/Year Built: 1940
  • Construction Date/Year Built Des: Approximate
Property and Assessments
  • Assessment Bldg: 96800.0
  • Assessment Land: 119500.0
Utilities
  • Cooling: Central Air, Wall A/C Unit(s)
  • Utilities: Electric, Gas-Natural
  • Water: Public Water
  • Heating: Forced Hot Air, Radiators - Steam
  • Fuel Type: Gas-Natural
  • Sewer: Public Sewer
Interior and Exterior Features
Exterior Features
  • Exterior Description: Vinyl Siding
  • Exterior Features: Storage Shed
Interior Features
  • Roof Description: Asphalt Shingle
  • Basement: Yes
  • Basement Description: Unfinished
  • Easement: Unknown
Multi Family
Unit 1 Information
  • Unit 1 Appl/Equip: See Remarks
  • Unit 1 Baths: 0.5
  • Unit 1 Bedrooms: 0
  • Unit 1 Fireplaces: 0.0
  • Unit 1 Handicap Modified: No
  • Unit 1 Levels: 1.0
  • Unit 1 Owner/Tenant Pays: Owner Pays Water, Tenant Pays Electric, Tenant Pays Gas, Tenant Pays Heat
  • Unit 1 Rent: 0.0
  • Unit 1 Room Description: See Remarks
  • Unit 1 Rooms: 3.0
  • Unit 1 Security Deposit: 0.0
  • Unit 1 Sq Ft: 0.0
Unit 2 Information
  • Unit 2 Appl/Equip: See Remarks
  • Unit 2 Baths: 1.0
  • Unit 2 Bedrooms: 2
  • Unit 2 Fireplaces: 0.0
  • Unit 2 Handicap Modified: No
  • Unit 2 Levels: 2.0
  • Unit 2 Owner/Tenant Pays: Owner Pays Water, Tenant Pays Electric, Tenant Pays Gas, Tenant Pays Heat
  • Unit 2 Rent: 1200.0
  • Unit 2 Room Description: Bedrooms, Kitchen, Living Room
  • Unit 2 Rooms: 4.0
  • Unit 2 Security Deposit: 0.0
  • Unit 2 Sq Ft: 0.0
Multi-Family Information
  • Unit Style: 2-Two Story
Income & Expenses Information
  • Total Operating Expense: $11,382.00
  • Expenses Include: Cold Water, Insurance, Taxes
  • Net Operating Income: $34,218.00
  • Gross Operating Income: $45,600.00

Property History for 51 West Somerset Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 51 West Somerset Street

Taxable ValueLand$119,500Additions$96,800Total$216,300
Tax Record2022$5,982 ($499 / month)
Home Facts
Stories2Lot Size2,640 SqFtStyleMiscellaneous CommercialYear Built1940CountySOMERSETAPN16 00105-0000-00003

Schools near 51 West Somerset Street

This home is within Bridgewater-Raritan Regional School District.
Rating
School
Type
Grades
Distance
Public - K to 4
Public - 5 to 6
Public - 7 to 8
Public - 9 to 12
Rating
School
Distance
John F. Kennedy Elementary School
PublicK to 4

Eisenhower Elementary School
Public5 to 6

Brdgwtr Raritn Middle School
Public7 to 8

Brdgwtr Raritn High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of RE/MAX COMPETITIVE EDGE, NADEEM QAVI

The data relating to the real estate for sale and sold listing information on this website comes from the New Jersey Multiple Listing Service, Inc. Virtual Office Website (VOW) program. This website may not include listings or property addresses of sellers who have directed their listing brokers to withhold their listing or their property address from display on the Internet. Sold listings may have been listed and/or sold by a real estate brokerage other than (insert office name). All information deemed reliable but not guaranteed. NLMLS makes no representation or warranty regarding the accuracy of the data. This data and information is protected under federal copyright laws which prohibit the unauthorized copying or alternation of all or any part of copyrighted materials, including certain compilations of data and information. Copyright violators may be subject to severe fines and penalties under federal law. Source: New Jersey Multiple Listing Service Inc. Last date updated 05/04/2024 06:56 AM © 2024 New Jersey Multiple Listing Service Inc. All rights reserved.