224 Glen Rd - Apartments FOR SALE


Sparta, NJ 07871
$1,185,000 USD
862-354-1822
224 Glen Rd, Sparta, NJ for Sale
$1,185,000 USD
Apartments - FOR SALE
1/7
null | 6.5% Cap Rate

224 Glen Rd
Sparta, NJ 07871


HIGHLIGHTS

  • Rarity: The first five-unit multifamily to hit the Sparta submarket in years; fully leased, minimal deferred maintenance.
  • Income upside: Current rents below market — straightforward lease renewals move the cap rate significantly, without a dollar of renovation needed.
  • Market-proof demand: Sparta's school district ranking and Lake Mohawk lifestyle keep rental vacancy functionally at near-zero
  • Unit mix: Five distinct floor plans ranging from 1 - to 2 bedrooms across various sizes; Idyllic setting on a large, set-back parcel
  • Turnkey: Positive cash flow on day of closing, with ample room to grow

OVERVIEW

224 Glen Road: a rare opportunity to acquire a fully occupied 5-unit multifamily property in Sparta Township, one of Northern New Jersey's most desirable residential communities. Situated on 1.95 acres, the property consists of two 2-bedroom units and three 1-bedroom units totaling approximately 5,473 square feet. The building benefits from a diverse unit mix, stable tenancy, ample parking, and a well-maintained setting. Located just minutes from Lake Mohawk, Sparta's downtown amenities, shopping, dining, and recreation, the property offers tenants a lifestyle advantage that is difficult to replicate. Sparta continues to benefit from strong housing demand, highly rated schools, affluent demographics, and a limited supply of rental housing. With virtually no comparable multifamily inventory entering the market, 224 Glen Road represents a compelling opportunity to own a well-positioned apartment asset in one of Sussex County's strongest rental markets.

FOR SALE DETAILS

PRICE

$1,185,000 USD

PRICE/SF

$163 USD /SF

# OF UNITS

5

PRICE/UNIT

$237,000

CAP RATE

6.5%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Sparta, NJ Multifamily - Rare and 100% Leased

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1890

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2.05 AC

LAND SF

89,298 SF

ZONING

R-2

APN/PARCEL ID

18-35006-0000-00113

ASK ABOUT THIS PROPERTY

Clay PannaschFairclough RealtorsMore Info
862-354-1822

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Clay PannaschFairclough RealtorsMore Info
862-354-1822

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.