25 Kiel Ave, Butler Boro, Morris 07405-1393
- $719,900
- $719,900
Overview
- Residential Income
- 5
- 3
Description
Back on Market after Buyer couldn’t perform! Now you have a second chance to snag this 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!
Address
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Address: 25 Kiel Ave
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City: Butler Boro
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State/county: Morris
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Zip/Postal Code: 07405-1393
Details
Updated on June 10, 2026 at 9:30 am-
Property ID HZ4031536
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Price $719,900
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Land Area 0.07 Acres
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Bedrooms 5
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Rooms 15
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Bathrooms 3
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Year Built 1912
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Property Type Residential Income
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Property Status Active
Additional details
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Roof Flat
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Utilities Electric, Gas-Natural, See Remarks
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Sewer Public Sewer
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Cooling None
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Heating 3 Units, Baseboard - Electric, Baseboard - Hotwater
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County Morris
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Property Type Residential Income
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Architectural Style Triplex
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