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Residential Income For Sale

25 Kiel Ave, Butler Boro, Morris 07405-1393

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Property 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!

Basic Details
Property Type:
Residential Income
Listing Type:
For Sale
Listing ID:
4031536
Price:
$719,900
Year Built:
1912
Lot Area:
0.07 Acre
Status:
Active
Office Name:
KELLER WILLIAMS PROSPERITY REALTY
Full Bathrooms:
3
Roof:
Flat
Features
Heating System:
Baseboard - Hotwater, Baseboard - Electric, 3 Units
Cooling System:
None
Basement:
Bilco-Style Door
Architectural Style:
Triplex
Sewer:
Public Sewer
Utilities:
Electric, See Remarks, Gas-Natural
Address Map
Country:
US
State:
Morris
County:
Morris
City:
Butler Boro
Zipcode:
07405-1393
Street:
Kiel Ave
Street Number:
25
Longitude:
W75° 39' 26.1''
Latitude:
N41° 0' 6.3''
Directions:
Route 23 N, right on Kiel Ave, building on right
Additional Information
Lot Size Dimensions:
30X100
Water Source:
Public Water
Number Of Units Total:
3
Financial
Tax Annual Amount:
10626
Listing Information
List Agent Mls Id:
307059
List Office Mls Id:
5371
Mls Status:
Active
Modification Timestamp:
2026-06-10T09:30:00Z
Originating System Name:
gsmls
Residential Income For Sale
Listing ID:
4031536
Lot Area:
0.07 Acre
$719,900
Agent info
Contact Agent

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