Property
Beds
8
Full Baths
6
1/2 Baths
None
Year Built
1904
Sq.Footage
4,500
Charming, income-producing multi-family just steps from Lake Hopatcong a rare value-add opportunity in a highly desirable lake community offering stunning views. This 4-unit property (with potential for a legal 5th unit, subject to municipal approvals) sits on nearly a full acre and currently generates approximately $92,000 annually, reflecting an attractive 7.1% cap rate with low operating expenses. Each unit is separately metered and equipped with newer tankless water heating systems, helping to minimize owner expenses. Recent exterior improvements include a newly paved driveway and retaining wall. With light interior renovations, three units present immediate rent growth potential. Located within walking distance to the public beach and close to the marina, shopping, and dining, the property offers strong long-term rental appeal and consistent tenant demand. Financials and detailed unit breakdown available upon request.
Features & Amenities
Interior
-
Total Bedrooms
8
-
Bathrooms
6
-
Basement YN
YES
-
Cooling YN
YES
-
Cooling
Ceiling Fan(s), Window Unit(s)
-
Heating YN
YES
-
Heating
Baseboard, Natural Gas
-
Pet friendly
N/A
Exterior
-
Garage
No
-
Construction Materials
Vinyl Siding
-
Parking
Off Street
-
Pool
No
-
View
Lake
Area & Lot
-
Lot Size(acres)
0.94
-
Property Type
Residential Income
-
Property Sub Type
Multi Family
-
Architectural Style
3-Three Story
Price
-
Sales Price
$874,000
-
Tax Amount
$14,859
-
Sq. Footage
4, 500
-
Price/SqFt
$194
HOA
-
Association
No
School District
-
Elementary School
N/A
-
Middle School
N/A
-
High School
N/A
Property Features
-
Stories
3
-
Sewer
Public Sewer
-
Tax Lot
*
-
Water Source
Public
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Location
County
Morris
Elementary School
Middle School
High School
Listing Courtesy of None , BLUE LINE REALTY GROUP LLC
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FOUNDER
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