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$ 689,900
Est. payment | /mo
5 Beds
3 Baths
2,400 SqFt
$ 689,900
Est. payment | /mo
5 Beds
3 Baths
2,400 SqFt
Key Details
Property Type Multi-Family, Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 2,400 sqft
Price per Sqft $287
MLS Listing ID 4020360
Style Triplex
Bedrooms 5
Full Baths 3
Year Built 1912
Annual Tax Amount $10,626
Tax Year 2025
Lot Size 3,049 Sqft
Property Description
Rare, fully occupied triplex in a prime Butler location. 25 Kiel Ave is a unique three-story multifamily property, grandfathered by the borough, offering a compelling opportunity for both investors and owner-occupants alike. This income-producing asset features two 2-bedroom, 1-bath units and one 1-bedroom, 1-bath unit, with in-unit laundry in all three apartments. Units 1 and 3 have been fully gut renovated and feature open-concept layouts, updated kitchens and bathrooms, and newer appliances. Unit 3 also includes a private rooftop balcony, adding even more appeal. Separate utilities help minimize landlord expenses, while off-street parking for four vehicles offers added convenience for tenants. Currently generating $5,700 per month in gross rental income with an attractive 7%+ cap rate, this property is also offered at $20,000 below appraised value. Ideally situated within walking distance to downtown Butler's shops, restaurants, nightlife, and public transportation, with easy access to Routes 23 and 287, this is a rare chance to own a well-performing multifamily property in a highly convenient location!
Location
State NJ
County Morris
Rooms
Basement Bilco-Style Door
Interior
Heating Electric, Gas-Natural, See Remarks
Cooling None
Heat Source Electric, Gas-Natural, See Remarks
Exterior
Exterior Feature Aluminum Siding
Utilities Available Electric, Gas-Natural, See Remarks
Roof Type Asphalt Shingle
Building
Sewer Public Sewer
Water Public Water
Architectural Style Triplex
Others
Senior Community No
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Listed by KELLER WILLIAMS PROSPERITY REALTY
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