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Request Info$1,900,000
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281 S Main St #281 Overview
- Time on Site:
- 322 days
- Visits:
- 1
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!!
Listing provided courtesy of UNITED REAL ESTATE- MLS# 3980709
Contact Information: 973-814-1232
Contact Information: 973-814-1232Love this property?
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281 S Main St #281 Facts & Features
- Type Commercial
- Lot 0.09 Acres
Details
General
Listing Information
- For Sale Or Lease: For Sale
Building Information
- Num Apts: 6
- Year Built: 0
Location/Region
- County Or Parish: Morris
- Location: Business District, Residential Area
Tax Information
- City Tax: *
- County Tax: *
- Tax Amount Tax: *
- Tax Annual Amount: $19,973.00
- Tax Assessed Value: *
- Tax Rate Amount: 2.802
- Tax Rate Year: 2024
- Tax Year: 2024
- Tax Year Tax: *
General Information
- Inclusions: Building & Land
- Property Sub Type: Apartment Complex, Mixed Use, Office/Retail
- Property Type: Commercial
- Zoning: B
Interior
Building Information
- Available Sq Ft: 0
- Equipment Available: Fire Alarm, Smoke Detector
- Max Ceiling Height: 0
- Max Door Height: 0
- Num 1 Bdrm Units: 1
- Num 2 Bdrm Units: 4
- Num 3 Bdrm Units: 1
- Num 4 Bed Units: 0
- Num Units w/Full Bath: 6
- Num Units w/Half Bath: 1
- Office Sq Ft: 0
Parking Information
- Garage Spaces: 10
Beds/Baths
- Bathrooms Total: 7
Building Interior
- Building Area Total: 0
General Information
- Cooling: See Remarks, Window A/C(s)
- Heating: Radiators - Steam
- Stories: 3
Unit Information
- Unit Number: 281
Exterior
Building Information
- Number of Bays: 0
- Number of Docks: 0
Parking Information
- Parking Features: Blacktop, Concrete, Dirt, Fencing
Lot Information
- Approximate Lot Size: 60X61 AVE
- Lot Features: Level Lot, Open Lot, Possible Subdivision
- Water Source: Public Water
Building Exterior/Construction
- Construction Materials: Brick/Block
- Exterior Description: Vinyl Siding
- Roof: Asphalt Shingle, Flat
General Information
- Number Of Units Total: 6
- Sewer: Public Sewer
- Utilities: Gas-Natural
281 S Main St #281 Neighborhood
Community
07885 (WHARTON) Demographics
42
Median Age
647
Population Density (per sq. mile)
41%
College Educated
$82,301
Estimated Median Income
2,653
Estimated Total Home Owners
1,294
Estimated Total Renters
67% / 33%
Estimated Owner / Renter Divide
3
Estimated Average Household Size
281 S Main St #281 Monthly Cost
281 S Main St #281 Market Data
Based on the last 30 days in this zip code
$533,224
Average List Price
$1,361
Average Price per Square Foot
0
Properties Sold
33
Average Days on Market
8
Properties for Sale
281 S Main St #281 History
| Date | Value | Agent |
|---|---|---|
| 8/11/2025Source: Garden State MLS | August 11, 2025 |