25 Kiel Ave , Butler Boro, New Jersey 07405-1393

  • $719,900

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!

  • City: Butler Boro
  • State/county: Morris

Details

Updated on June 16, 2026 at 9:09 am
  • Property ID HZ4031536
  • Price $719,900
  • Bedrooms 5
  • Bathrooms 3
  • Property Type Residential Income
  • Property Status Active

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Queens Realty New Jersey

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