Renovated Historic 4-Family
314 Cornelia St Boonton, NJ 07005
For Sale
$1,690,000
MULTI_FAMILY - Boonton Town, NJ
Property Size6,000 SF
Lot Size0.63 Acres
Price / SF$281.67
Days on Market30
Property Features for 314 Cornelia St
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- MULTI FAMILY
- Bedrooms
- 8
- Bathrooms
- 4
- Rooms
- Bedroom 2, Bathroom 1, Bedroom 1, Bathroom 4, Bedroom 6, Bathroom 3, Bedroom 7, Basement, Bedroom 5, Bathroom 2, Bedroom 8, Bedroom 4, Bedroom 3
- Parking
- 8
- Interior features
- Carbon Monoxide Detector, Fire Extinguisher, Smoke Detector, Tile Floors, Vinyl-Linoleum Floors
- Exterior features
- Thermal Windows/Doors
- Standard status
- Active
- Size
- 6,000 SF
- Lot size
- 0.63 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 33893
Utilities
- Sewer type
- Public Sewer
- Heating system
- Forced Air, Heat Pump (Heating)
- Cooling system
- Ductless, Central Air
- Water source
- Public
Building Details
- Year built
- 1865
- Number of units
- 4
- Roof type
- Slate
- Architectural style
- Other
Listing Agency:
RE/MAX SELECT
(973) 625-0450
Listed By:
JOSEPH MORREALE
(973) 539-6300
Added: Jun 24
Changed: Jul 22
Last Checked: Jul 23 at 5:06PM
MLS# 4036766
Copyright © 2026 Garden State MLS, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Just renovated, this historic 1865 Queen Anne Victorian is offered as a four-family residential income property. The property is a three-story building with approximately 6,000 square feet of living space, plus a full walk-out unfinished basement. It includes a detached two-car garage with a circular driveway and sits on a large level private lot.
Unit mix includes a 2–3 bedroom configuration for Unit 1, a 1-bedroom Unit 2, a 2-bedroom Unit 3, and a larger 3-bedroom Unit 4. The renovations include new custom kitchens and custom bathrooms, luxury vinyl flooring, LED lighting, and new electric hot water heaters for all units. Units 1 and 4 feature new natural gas heat and central air, while Units 2 and 3 feature new split air heat and AC systems. All units have separate electric, and sewer and water are shared. Most electric and plumbing is new, and the original slate roof remains and is in good condition.
The property is currently fully occupied. The rear property line fronts the road behind the home, which presents a possible subdivision consideration. It is described as within walking distance to downtown and close to public transportation, major routes, and shopping.
Unit mix includes a 2–3 bedroom configuration for Unit 1, a 1-bedroom Unit 2, a 2-bedroom Unit 3, and a larger 3-bedroom Unit 4. The renovations include new custom kitchens and custom bathrooms, luxury vinyl flooring, LED lighting, and new electric hot water heaters for all units. Units 1 and 4 feature new natural gas heat and central air, while Units 2 and 3 feature new split air heat and AC systems. All units have separate electric, and sewer and water are shared. Most electric and plumbing is new, and the original slate roof remains and is in good condition.
The property is currently fully occupied. The rear property line fronts the road behind the home, which presents a possible subdivision consideration. It is described as within walking distance to downtown and close to public transportation, major routes, and shopping.
Key Highlights
- Historic “Cornelia House” 4‑family built in 1865, 3‑story home with approx. 6,000 sq ft of living space
- Fully occupied 4‑family with unit mix: Unit 1 (2/3BR, approx. 1,500 sq ft), Unit 2 (1BR), Unit 3 (2BR), Unit 4 (3BR, approx. 2,000 sq ft)
- Renovated units with new custom kitchens and custom bathrooms, luxury vinyl flooring, and LED lighting
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $153.4k | $25.56 |
| − Vacancy | −$9.9k | −$1.65 |
| EGI | $143.5k | $23.91 |
| − OpEx | −$43.0k | −$7.17 |
| NOI | $100.4k | $16.74 |
6,000 SF · lease $25.56/SF/yr · vacancy 6.46% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.43M
$1.26M – $1.67M
NOI $100,417 @ 7.0% cap · market cap 5.94%
Second Best
Apartment 5plus
$1.32M
$1.15M – $1.54M
NOI $92,268 @ 7.0% cap · market cap 5.46%
Theoretical Best
Office A
$1.57M
$1.37M – $1.83M
NOI $109,670 @ 7.0% cap · market cap 6.49%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
FAQs
What type of property is this?
Quadplex - Renovated 1865 Queen Anne Victorian offers four residential units with new finishes and separate electric.
Where is this quadplex located?
The property is located at 314 Cornelia St Boonton, NJ.
What is the asking price?
The asking price for this property is $1,690,000.
What are key features of this property?
This property features: Historic “Cornelia House” 4‑family built in 1865, 3‑story home with approx. 6,000 sq ft of living space; Fully occupied 4‑family with unit mix: Unit 1 (2/3BR, approx. 1,500 sq ft), Unit 2 (1BR), Unit 3 (2BR), Unit 4 (3BR, approx. 2,000 sq ft); Renovated units with new custom kitchens and custom bathrooms, luxury vinyl flooring, and LED lighting
