ADDRESS
62 E Park Place
Morristown, NJ 07960
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$2,299,000
56 Days On Site
200 Summer StPaterson City, NJ 07501
For Sale|Multi Family|Active
0
Beds
0
Total Baths
2025
Built
County:
Passaic
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973-349-0459
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Welcome to a rare opportunity to own a brand-new, fully vacant 7-unit investment property located in a high demand rental market. This modern multifamily building offers immediate income potential with no renovation needed and the added benefit of a long term tax abatement, maximizing your return on investment from day one. Each of the seven units features high end finishes, contemporary layouts, and energy efficient systems designed to appeal to today's renters. With all units currently vacant, investors or owner-occupants can set their own market rents ideal for maximizing cash flow. The property's strong rental income potential makes it a perfect addition to any real estate portfolio.
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Listing Snapshot
Price
$2,299,000
Days On Site
56 Days
Bedrooms
N/A
Inside Area (SqFt)
N/A
Total Baths
N/A
Full Baths
N/A
Partial Baths
N/A
Lot Size
0.11 Acres
Year Built
2025
MLS® Number
3973568
Status
Active
Property Tax
$12,788
HOA/Condo/Coop Fees
N/A
Sq Ft Source
N/A
Friends & Family
Recent Activity
| 3 weeks ago | Listing updated with changes from the MLS® | |
| 3 weeks ago | Price changed to $2,299,000 | |
| 2 months ago | Listing first seen on site |
General Features
Acres
0.11
Garage
Yes
Garage Spaces
6
Number Of Stories
2
Parking
Off Street
Parking Spaces
6
Property Condition
Under Construction
Property Sub Type
Multi Family
Security
Security SystemSmoke Detector(s)
Sewer
Public Sewer
Utilities
Natural Gas Available
Water Source
Public
Zoning
residential
Interior Features
Basement
Finished
Flooring
Laminate
Heating
Heat PumpNatural Gas
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Exterior Features
Construction Details
Vinyl SidingWood Siding
Roof
Asphalt
Community Features
Accessibility Features
Accessible Entrance
Listing courtesy of WEICHERT REALTORS
The data relating to real estate for sale on this website comes in part from the IDX Program of Garden State Multiple Listing Service, L.L.C. Real estate listings held by other brokerage firms are marked as IDX Listing. Notice: The dissemination of listings on this website does not constitute the consent required by N.J.A.C. 11:5.6.1 (n) for the advertisement of listings exclusively for sale by another broker. Any such consent must be obtained in writing from the listing broker. This information is being provided for Consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed. Copyright © 2025 Garden State Multiple Listing Service, L.L.C. All rights reserved.
The data relating to real estate for sale on this website comes in part from the IDX Program of Garden State Multiple Listing Service, L.L.C. Real estate listings held by other brokerage firms are marked as IDX Listing. Notice: The dissemination of listings on this website does not constitute the consent required by N.J.A.C. 11:5.6.1 (n) for the advertisement of listings exclusively for sale by another broker. Any such consent must be obtained in writing from the listing broker. This information is being provided for Consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed. Copyright © 2025 Garden State Multiple Listing Service, L.L.C. All rights reserved.
Neighborhood & Commute
Source: Walkscore
Community information and market data Powered by ATTOM Data Solutions. Copyright ©2019 ATTOM Data Solutions. Information is deemed reliable but not guaranteed.
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