Multi-Family, Commercial $ 719,900

25 Kiel Ave

Butler Boro, NJ 07405

  • 5 Beds
  • 3 Baths
    Full Baths: 3
  • 2,400 SqFt
  • 3,049 Lot Size
  • 1912 Year Built
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!
Listed by KELLER WILLIAMS PROSPERITY REALTY

PROPERTY DETAIL

  • Key Details

    Property Type Multi-Family, Commercial

    Listing Status Active

    Purchase Type For Sale

    Square Footage 2, 400 sqft

    Price per Sqft $299

    MLS Listing ID 4031536

    Style Triplex

    Bedrooms 5

    Full Baths 3

    Year Built 1912

    Annual Tax Amount $10,626

    Tax Year 2025

    Lot Size 3,049 Sqft

  • Location

    State NJ

    County Morris

  • Rooms

    Basement Bilco-Style Door

  • Building

    Sewer Public Sewer

    Water Public Water

    Architectural Style Triplex

  • Interior

    Heating Electric, Gas-Natural, See Remarks

    Cooling None

    Heat Source Electric, Gas-Natural, See Remarks

  • Exterior

    Exterior Feature Aluminum Siding

    Utilities Available Electric, Gas-Natural, See Remarks

    Roof Type Flat

  • Others

    Senior Community No

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CONTACT

Alex Houser
Alex Houser

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