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281 S Main St Wharton Boro, NJ 07885
3,920 Sqft Lot
UPDATED:
Key Details
Property Type Condo
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID 3980709
Annual Tax Amount $19,973
Tax Year 2024
Lot Size 3,920 Sqft
Property Sub-Type Mixed Use
Property Description
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!!
Location
State NJ
County Morris
Zoning B
Rooms
Basement Full, Storage, Unfinished, Walkout
Interior
Heating Gas-Natural
Cooling See Remarks, Window A/C(s)
Equipment Fire Alarm, Smoke Detector
Heat Source Gas-Natural
Exterior
Exterior Feature Vinyl Siding
Utilities Available Gas-Natural
Roof Type Asphalt Shingle, Flat
Building
Lot Description Level Lot, Open Lot, Possible Subdivision
Story 3
Sewer Public Sewer
Water Public Water
Others
Ownership Fee Simple
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Listed by UNITED REAL ESTATE