ADDRESS
62 E Park Place
Morristown, NJ 07960
Due to the health concerns created by Coronavirus we are offering personal 1-1 online video walkthough tours where possible.
Incredible investment opportunity in a non-flood zone this unique multi-family property offers five legal units across two separate dwellings, all state of NJ code-compliant and featuring separate utilities for each apartment. A rare and well-maintained asset, the property includes a three-bedroom cottage, a one-bedroom studio, and three additional one-bedroom units, providing excellent rental diversity and consistent income potential. Each unit boasts its own boiler and water heater, reducing owner expenses and simplifying management. Located in a prime area, close to shops, dining, and public transportation including convenient bus service directly in front of the property this location supports strong tenant demand. Whether you're a seasoned investor or just starting your portfolio, this property is a smart, income-producing asset with minimal overhead and impressive cash flow. The Net Operating Income (NOI) will not disappoint a must-see for serious investors seeking long-term value and stability. Don't miss this opportunity to own a turn-key property with immediate upside in a high-demand rental market.
3 weeks ago | Listing updated with changes from the MLS® | |
4 weeks ago | Listing first seen on site |
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