46 Franklin St, Silver Lake, NJ 07109

Local realty services provided by:Better Homes and Gardens Real Estate Green Team
46 Franklin St,Belleville Twp., NJ 07109
$1,400,000
  • 0.23 Acres
  • Lots / Land
  • Active
Listed by:paula cardenas
Office:signature realty nj
MLS#:3978065
Source:NJ_GSMLS

Price summary

  • Price:$1,400,000

About this home

Prime Development Opportunity ? Mixed-Use Site with Approved PlansAn exceptional investment opportunity awaits with this approved development site in a thriving urban location. This property is fully entitled for the construction of a mixed-use apartment building, featuring 24 residential units and one ground-floor commercial space?perfectly suited for today?s demand for walkable, community-focused living. The current structure on the lot is generating a Gross Operating Income (GOI) of approximately $100,000 annually, offering income potential during pre-construction planning. However, the building will need to be demolished to make way for the approved project.Investors and developers will benefit from a 5-year tax abatement, significantly reducing carrying costs and enhancing ROI. Importantly, this project is not designated as affordable housing, allowing for full market-rate rental opportunities. With plans in place, income-producing status, and development-ready approvals, this is

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Home facts

  • Listing ID #:3978065
  • Added:59 day(s) ago
  • Updated:September 26, 2025 at 07:53 PM

Structure and exterior

  • Lot area:0.23 Acres

Utilities

  • Water:Public Water on Property

Finances and disclosures

  • Price:$1,400,000
  • Tax amount:$20,491 (2024)
The data relating to real estate for sale on this website comes in part from the IDX Program of Garden State Multiple Listing Service, L.L.C. Real estate listings held by other brokerage firms are marked as IDX Listing. Information deemed reliable but not guaranteed. 2025 Garden State Multiple Listing Service, L.L.C. All rights reserved. Notice: The dissemination of listings on this website does not constitute the consent required by N.J.A.C. 11:5.6.1 (n) for the advertisement of listings exclusively for sale by another broker. Any such consent must be obtained in writing from the listing broker. This information is being provided for Consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties Consumers may be interested in purchasing. Date Last Updated September 26, 2025

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