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281 S Main St Wharton, NJ 07885

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For Sale
$1,900,000

Six-unit multifamily property in downtown Wharton with income potential.

Lot size:
0.09 Acres

Property Features for 281 S Main St

General Information

Property type
Commercial
Standard status
Active
Lot size
0.09 Acres

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Listing Contact
Efrain Gonzalez
Source: Elliman

Listing Agent: Efrain Gonzalez

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Overview

High-Income Multifamily Investment Property

This six-unit multifamily building is a high-performing asset generating six figures in annual income. The property is fully rented and offers a strong return. Located in a competitive rental market, the building features a mix of one to three-bedroom units. Six private garages are included, adding convenience and income potential. A large stand-up attic is ready to be converted into additional living space. The full basement can be transformed into a laundry facility, tenant storage, or a shared community area. There is a large open lot with possibility for expansion. The property is positioned within walking distance of local restaurants, shops, and daily conveniences, and just minutes from top-rated schools. It is also close to major highways, offering access for commuters. Five newer water heaters were installed in 2023, and a newer boiler was installed in 2020. This property is located in downtown Wharton.
Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

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  • Local Demand
City
Wharton
County
Morris
State
New Jersey
Longitude
-74.580345
Latitude
40.8894232

FAQs

What type of property is this?
Apartment building - Six-unit multifamily property in downtown Wharton with income potential.
Where is this apartment building located?
The property is located at 281 S Main St Wharton, NJ.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: - High-income 6-unit investment property generating six figures annually.; - Six private garages included, adding convenience and income potential.; - Located in a competitive rental market with rare vacancies and top-tier rental rates.
More about this property
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