Solid income producing property close to TCNJ/Rider with expansion possibilities. Currently set up as a legal three unit apartment building plus 6 garages. Unit 1 is a four bedroom, 2 bath unit; Unit 2 is a 2 bedroom/ 1 bath unit and Unit 3 is a one bedroom efficiency. Garage space rents for $100 per month per garage. Tenants pay utilities except water and sewer. Additional land was approved in 2006 for a six unit apartment building. Interior newly repainted and recarpeted. Many building systems upgraded/replaced recently. 1520 Pennington Rd immediately next door under constructio for 11 room dormitory and commercial space building
Multi-familyProperty Type
1880Year Built
1.06 acresLot Size
$259Est. Price/Sq.Ft.
4 garage spacesParking
Listed by Winn Thompson• BHHS Fox & Roach Hopewell Valley
•609-737-9100 (broker)
•lisa.leray@foxroach.com (broker)
Bought with Vaishali Senjalia• BHHS Fox & Roach Princeton RE
Calling all Builders or Investers! Great investment opportunity and great location. On an acre! Less than a mile to the College of New Jersey. Complete Ewing Twp planning approvals to build another 6 units 1200 sqft each ( With parking) behind current building. Site plan and prelimary drawnings available. The existing charming apartment building has been updated over the last 5 years with new carperting throughout. Updated plumbing and electric, new ceramic tiling in bathrooms, all units freshly painted in the last 3 years. Separate meters for gas and electric for each unit. Has large garage for storage. Excellent opportunity for a builder who wants to build the approved apartment building while having a positive cash flow on the existing building. "AS IS" sale.
BRIGHT MLS #NJME249372
Jul 27, 2006
Listing Removed
—
Nov 22, 2005
Listed
$595,000
$198/sq ft
Public Records
Sep 18, 2003
Sold
$285,560
$95/sq ft
BRIGHT MLS #NJME164364
Aug 15, 2003
Sold
$285,560
$95/sq ft
Jul 3, 2003
Listing Removed
—
Jun 29, 2003
Listed
$285,560
$95/sq ft
Public Records
May 31, 2002
Sold
$185,000
$62/sq ft
Public Records
May 9, 1989
Sold
$210,000
$70/sq ft
Year
Property tax
Land + Additions
Assessment*
2025
$12,291 (+3.0%)
$55,500 + $247,700
$303,200
2024
$11,933 (+6.4%)
$55,500 + $247,900
$303,400
2023
$11,217 (+2.8%)
$55,500 + $247,900
$303,400
2022
$10,913 (+2.5%)
$55,500 + $247,900
$303,400
2021
$10,646 (−1.3%)
$55,500 + $247,900
$303,400
2020
$10,789 (+2.7%)
$55,500 + $256,400
$311,900
2019
$10,508 (−1.1%)
$55,500 + $256,400
$311,900
2018
$10,627 (−0.9%)
$55,500 + $256,400
$311,900
2016
$10,727 (+1.6%)
$37,300 + $163,900
$201,200
2014
$10,556 (+1.6%)
$37,300 + $163,900
$201,200
2013
$10,390 (−2.2%)
$37,300 + $163,900
$201,200
2012
$10,625 (+7.0%)
$37,300 + $163,900
$201,200
2010
$9,927 (+7.3%)
$37,300 + $163,900
$201,200
2009
$9,249
$37,300 + $163,900
$201,200
Tax history for 1530 Pennington Rd
Year
Property tax
Land + Additions
Assessment*
2025
$12,291 (+3.0%)
$55,500 + $247,700
$303,200
2024
$11,933 (+6.4%)
$55,500 + $247,900
$303,400
2023
$11,217 (+2.8%)
$55,500 + $247,900
$303,400
2022
$10,913 (+2.5%)
$55,500 + $247,900
$303,400
2021
$10,646 (−1.3%)
$55,500 + $247,900
$303,400
2020
$10,789 (+2.7%)
$55,500 + $256,400
$311,900
2019
$10,508 (−1.1%)
$55,500 + $256,400
$311,900
2018
$10,627 (−0.9%)
$55,500 + $256,400
$311,900
2016
$10,727 (+1.6%)
$37,300 + $163,900
$201,200
2014
$10,556 (+1.6%)
$37,300 + $163,900
$201,200
2013
$10,390 (−2.2%)
$37,300 + $163,900
$201,200
2012
$10,625 (+7.0%)
$37,300 + $163,900
$201,200
2010
$9,927 (+7.3%)
$37,300 + $163,900
$201,200
2009
$9,249
$37,300 + $163,900
$201,200
*Taxable value of land and structures on it ("additions") is determined regularly by local assessors and does not affect market price.
Public record
Beds
—
Baths
—
Stories
2
Lot width
148 ft.
Lot depth
314 ft.
Lot size
1.06 Acres
Year renovated
—
Sq. Ft.
3,712
Year built
1880
Style
Multi-Family (5+ Unit)
County
Mercer County
APN
0200118 0200001
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Jul 14, 2026.
Property details
Parking
Parking Information
# of Detached Garage Spaces: 4
Garage Features: Other
# of Total Garage and Parking Spaces: 12
Has Garage
# of Garage Spaces: 4
# of Open Parking Spaces: 8
Detached Garage
Interior
Virtual Tour
Interior Information
Entry Location: Foyer
Flooring Type: Wood, Fully Carpeted, Vinyl
Living Area Sq.Ft. Source: Estimated
Room Information
Master Bedroom
Laundry Type: Common
Basement Information
Basement: Yes
Partial, Unfinished
Multi Unit Information
# of Single Room Units: 1
# of One Bedroom Units: 1
# of Two Bedroom Units: 1
# of Three Bedroom Units: 1
Other Units: Unit 1,Unit 2,Unit 4,Unit 3
Gross Income: $52,800
Annual Gross Expense: $16,675
Exterior
Property Information
Improvement Assessed Value: $163,900
Insurance Expense: $1,000
Ownership Interest: Fee Simple
Property Condition: Fixer
Year Built Source: Estimated
Building Information
# of Units (Total): 3
Total Sq.Ft. Source: Estimated
Building Area Units: Square Feet
Construction Materials: Wood Siding
Other Structures: Above Grade
Roof: Pitched
Storage: Attic
Exterior Information
Street Lights
Lot Information
Lot Size Dimensions: 147X314
Tidal Water: No
Land Information
Land Assessed Value: $37,300
Above Grade Information
Finished Sq.Ft.: 3,000
Finished Sq.Ft. Source: Estimated
Financial
Tax Information
Tax Assessed Value: $201,200
Tax Year: 2017
Tax Annual Amount: $10,875
Utilities
Utilities Information
Cooling Type: Window Unit(s)
Cooling Fuel: Electric
Radiator
Heating Fuel: Natural Gas
Hot Water: Natural Gas
Sewer Septic: Public Sewer
Water Sewer Expense: $1,800
Water Source: Public
Location
Homeowners Association Information
Maintenance Expense: $3,000
School Information
School District Name: EWING TOWNSHIP PUBLIC SCHOOLS
Location Information
Cross Street: PENNWOOD DR
Directions: From 95 take Route 31 South (Pennington Rd) to 1530 on left before Olden Ave
Municipality: EWING TWP
Public facts
Beds: —
Baths: —
Sq. Ft.: 3,712
Stories: 2.0
Lot Size: 1.06 acres
Style: Multi-Family (5+ Unit)
Year Built: 1880
Year Renovated: —
County: Mercer County
APN: 0200118 0200001
Home facts updated by county records on Jul 13, 2026
Around this home
Schools
Parkway Elementary School
Public PreK-5 • Assigned • 0.6mi
3/10
Gilmore J Fisher Middle School
Public 6-8 • Assigned • 1.8mi
4/10
Ewing High School
Public 9-12 • Assigned • 0.8mi
2/10
Provided by GreatSchools
Lifestyle
Provided by Walk Score and Local Logic
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
1/10 Fire Factor
Unlikely to be in a wildfire in next 30 years
6/10 Heat Factor
7 days above 102° expected this year, 15 days in 30 years
6/10 Wind Factor
27% chance of strong winds in next 30 years
4/10 Air Factor
4 unhealthy days expected this year, 5 days in 30 years
Provided by First Street
Historical weather
Ewing, NJ • 08618
Average low and high temperatures (°F)
35
22
40
24
58
36
66
44
73
54
84
63
88
69
82
61
78
59
69
47
56
38
41
26
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
In this area, properties receive around 8.7 hours in
June and 4.4 hours in December, placing it below the
U.S. average for solar exposure.