30
See all 30 photos
$825,000
Est. payment /mo
3 Beds
2 Baths
7,405 Sqft Lot
New
16 Sherman Ave Morris Twp., NJ 07950
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Key Details
Property Type Multi-Family, Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 3989718
Style Under/Over
Bedrooms 3
Full Baths 2
Year Built 1937
Annual Tax Amount $7,697
Tax Year 2024
Lot Size 7,405 Sqft
Property Description
Prime Morris Twp 2-Family offering a unique third income stream from 4 detached garages, each rented for $165/mo ($660/mo total). This turn-key asset presents significant value-add potential. The 1st Flr unit (1BR+Den) is rented below market at $1800/mo. The VACANT 2nd Flr unit (2BR) is freshly painted with a new stove & fridge, ready for market rent ($2400+ est). This upper unit also features a fantastic walk-up 3rd floor office/den. A landlord's dream with ALL SEPARATE UTILITIES and a NEW ROOF. Full basement with 2 sets of laundry hookups and dedicated tenant parking on-site. Meticulously maintained and in a fantastic location with a Morris Plains mailing address. This is the low-expense, high-potential investment you've been waiting for!
Location
State NJ
County Morris
Rooms
Basement Unfinished
Interior
Interior Features Carbon Monoxide Detector, Smoke Detector
Heating Gas-Natural
Cooling 4+ Units, Window A/C(s)
Heat Source Gas-Natural
Exterior
Exterior Feature Vinyl Siding
Parking Features Detached Garage, Loft Storage
Garage Spaces 4.0
Utilities Available Gas-Natural
Roof Type Asphalt Shingle
Building
Lot Description Level Lot
Sewer Public Sewer
Water Public Water
Architectural Style Under/Over
Others
Senior Community No
Information deemed reliable but not guaranteed. Copyright © 2025 Garden State Multiple Listing Service, L.L.C. All rights reserved.
Listed by COLDWELL BANKER REALTY
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