281 S Main St - Apartments FOR SALE


Wharton, NJ 07885
$1,900,000 USD
973-814-1232
281 S Main St, Wharton, NJ for Sale
$1,900,000 USD
Apartments - FOR SALE
1/32
null | 6.05% Cap Rate

281 S Main St
Wharton, NJ 07885


HIGHLIGHTS

  • Fully occupied

OVERVIEW

High Income 6-Unit Investment Property with Garages in Downtown Wharton! This RARE 6-Unit, Multifamily building is a high-performing asset with serious upside. Fully rented and generating six figures in annual income, this property offers a strong return from day one. In one of morris county's most competitive rental markets, where vacancies are rare and rental rates remain top-tier. The building features a mix of 1 to 3 bedrooms units. Included are 6 private garages. A major perk, adding both convenience and extra income potential. For the Value-add Investor, the possibilities are endless: A massive stand-up attic is ready to be converted into additional living space. Full basement can be transformed into a laundry facility, tenant storage, or a shared community area. Large open lot with possibility for expansion. Positioned within walking distance of local restaurants, shops, and daily conveniences, and just minutes from top-rated Wharton schools!! This property is also close to major highways. Offering seamless access for commuters. 5 Newer water heaters installed in 2023! Newer Boiler installed in 2020. Whether you're expanding your portfolio or seeking a stable, income-producing asset in a growing downtown, this is a CANT-MISS OPPORTUNITY in Downtown Wharton. Please ask for 3 minute highlight video TO better see this GEM!!

FOR SALE DETAILS

PRICE

$1,900,000 USD

PRICE/SF

$289 USD /SF

# OF UNITS

6

PRICE/UNIT

$316,667

CAP RATE

6.05%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Dormitory

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1965

PARKING SPACES

14

LAND DETAILS

LAND ACRES

0.26 AC

LAND SF

11,326 SF

ZONING

B

APN/PARCEL ID

39-01901-0000-00014

ASK ABOUT THIS PROPERTY

Efrain GonzalezUnited Real Estate ExcellenceMore Info
973-814-1232

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Efrain GonzalezUnited Real Estate ExcellenceMore Info
973-814-1232

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