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34 photos
Listed by Tiffany Leape Blueline Realty Group LLC
Bought with Outside Agent Outside Office
Bought with Outside Agent Outside Office
$920,000
$874,000 5.3%
Est. payment /mo
7 Beds
6 Baths
UPDATED:
Key Details
Sold Price $920,000
Property Type Multi-Family
Sub Type 4 Family
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 26007976
Sold Date 05/28/26
Style 4 Family
Bedrooms 7
Full Baths 6
Property Sub-Type 4 Family
Property Description
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.
Location
State NJ
County Morris
Interior
Laundry Coin/Card, In Unit
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NEARBY SCHOOL & BUSINESS
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