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Ataullah Barnes

ataullah@rogprodigy.com +1(973) 277-2575

$1,149,999

Est. payment - /mo

3,372 SqFt

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Key Details

Property Type Multi-Family

Sub Type 2 Family

Listing Status Active

Purchase Type For Sale

Square Footage 3,372 sqft

Price per Sqft $341

Subdivision Shelton

MLS Listing ID 2607177R

Year Built 1922

Annual Tax Amount $11,876

Tax Year 2024

Lot Size 6,564 Sqft

Acres 0.1507

Lot Dimensions 125.00 x 0.00

Property Sub-Type 2 Family

Source CJMLS API

Property Description

Prime Edison Property - Approved for Two Luxury Single-Family Homes or Live & Rent Opportunity Exceptional opportunity to own a board and zoning - approved minor subdivision in Edison's sought after neighborhood - offering flexibility, income, and future profit. This property includes an existing multi-family home plus approval to build two new luxury single-family homes, making it ideal for builders, investors, owner-occupants, or multi-generational buyers. Property Highlights Approved to build two new luxury single-family homes, see below for details Existing multi-family includes: o Unit 1: 5 BR/3 BA, half basement, & driveway, rented at $3,200/month (lease through 3/31/27, options for extension or deliver the house/lots vacant as needed) o Unit 2: 2 BR/1 BA, full basement, & 2-car garage, currently owner-occupied or rentable at $2,200/month Live in one unit and collect rent from the other, or start immediate construction on two new homes New Construction Vision & Approved Blueprints Each approved single-family home is designed for modern luxury living (~2,800-2,900 sq ft) and projected to sell for $1.0M - $1.2M. Key design highlights include: 1. 5 BR / 3 BA plus dual family rooms, including coffered design, for large family gathering or entertainment 2. Soaring 9' ceiling on 1st floor, 8' ceiling on 2nd floor with 10' tray ceiling for master coupled with a walk-out balcony 3. Spa-inspired master suite with freestanding tub and his & her WIC 4. Gourmet quartz kitchen with walk-in pantry and stainless-steel appliances 5. Hardwood or porcelain floors with Andersen / Pella windows 6. Energy-efficient two-zone HVAC, high R-value insulation, and smart layout 7. Superior exterior structure using 2x6 framing Together, both homes could yield $2M+ in finished value, instantly positioning this property as a high-upside investment. Prime Edison Location Minutes to Edison train station (direct to NYC), top-rated schools, major shopping, and quick access to Route 1, Parkway, Rt 287, and NJ Turnpike. High-demand neighborhood with strong resale and rental markets. This turnkey development offers a fully approved minor subdivision for two new luxury single-family homes, along with an existing income-producing multi-family residence. The value reflects over a year of professional work and approval completed - including planning board fees, legal and engineering costs, environmental testing, zoning compliance, architected blueprints, and finalized deeds. All information deemed reliable but not guaranteed. Buyer to perform their own due diligence regarding minor subdivision details, construction, potential resale values, etc. Any price estimates for future construction are illustrative only and not a guarantee of market value or profit. Property sold as-is with no representation or warranty of future performance, subject to local zoning, building, and planning regulations.

Location

State NJ

County Middlesex

Zoning RB

Rooms

Basement Crawl Space, Full, None

Interior

Interior Features Unit 1(Dining Room, Kitchen, 5+ Bedrooms, 2+ Baths), Unit 2(Dining Room, 2 Bedrooms, Kitchen, 1 Bath, Den/Family Room)

Heating Baseboard Electric

Cooling None

Flooring Unit 1 Carpet

Appliance Water Heater(Electric), Water Heater, Unit 1(Dryer, Refrigerator), Unit 2(Refrigerator)

Exterior

Garage Spaces 2.0

Utilities Available Electricity Connected, Natural Gas Connected

Building

Lot Description See Remarks

Story 2

Sewer Public Sewer

Water Public

Others

Senior Community no

Tax ID 050010000000002306

Ownership Fee Simple

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Ataullah Barnes

+1(973) 277-2575

Broker | License ID: 0454603

Broker License ID: 0454603

271 Central AVE Edison, NJ 08817

Ataullah Barnes

Key Details

Location

Rooms

Interior

Exterior

Building

Others

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NEARBY SCHOOL & BUSINESS

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271 Central AVE