Property

Wharton Boro, NJ 07885 354 S Main St

Pending
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Presented By: KELLER WILLIAMS VILLAGE SQUARE; 973-261-3995
  • MLS# 3976259
  • 07/18/2025
  • Request Tour
  • Request Info
  • Full/Half Baths • 0 / 5
  • SQFT • 25,199
  • Garage • 15

Home Details

Discover an unparalleled investment opportunity in the heart of the real estate market! This expansive property, covering over half an acre with 2 separate buildings, stands as one of the largest lots in town. Located in a B-1 Zoning District (Neighborhood Business District), it offers remarkable flexibility and potential. Both buildings have undergone complete renovation and rehabilitation, including new roofs, kitchens, bathrooms, utilities, and more. This ensures a low-maintenance, high-yield investment for years to come. Currently configured with 4 renovated apartments and an office space with full kitchens and bathrooms, the property boasts an impressive NET OPERATING INCOME $118,000 annually! We have created comprehensive floor plans and future plans to add 2 additional 2 bedroom units to the front building, which has partial plans for added value!. This will allow you to thoroughly explore every aspect of this unique offering. With the potential to expand to 7 units, the net income could reach an astounding $190,000!! This exceptional opportunity, with its strategic location and extensive renovations, ensures a sustainable and profitable investment for discerning investors. Don't miss out on the chance to secure a prime piece of real estate that promises significant returns and long-term growth. Let's collaborate to analyze the numbers, align with your goals, and make this exceptional investment opportunity yours today!
Presented By: KELLER WILLIAMS VILLAGE SQUARE; 973-261-3995

Interior Features for 354 S Main St

Bedrooms

Num 4 Bed Units

Bathrooms

Num Units w/Full Bath4
Num Units w/Half Bath1
Half Baths5

Other Interior Features

Price Per Sq Ft0.00
Available Sq Ft25199
Num 3 Bdrm Units1
Num 2 Bdrm Units1
Num 1 Bdrm Units2
BasementFull, Storage, Unfinished
FlooringCarpeting, Concrete, Laminate, Tile, Vinyl-Linoleum
Fuel TypeGas-Natural
Total Stories3

General for 354 S Main St

Cap Rate7.88
ConstructionBrick/Block
Cooling4+ Units, Central Air, Ductless Split AC
CountyMorris
DirectionsE. Sterling St. to S. Main St. or use GPS/Waze
Documents AvailableBuilding Plans, Financial Statement, Income & Expenses, Leases, Site Plan, Survey
DriveBlacktop, Lighting, Off-Street Parking, Parking Lot-Exclusive
EasementUnknown
Equipment AvailableAppliances, Fire Alarm, Handicapped Access, Kitchen Area, Restrooms - Private, Security System, Smoke Detector, Storage Area(s)
Farm AssessmentNo
Garage Spaces15
Gross Income143675
Heating4+ Units, Forced Hot Air, Radiant - Electric, Radiators - Hot Water
Leasable Area1000
Lease Information1 Year Minimum
LocationBusiness District, Freestanding, Residential Area
Net Operating Income118000
Num Apts4
Number Of Units Total5
Operating Expense25675
OwnerPaysMaintenance-Common Area, Repairs, See Remarks, Sewer, Snow Removal
OwnershipFee Simple
Possession0-31
Property TypeApartment Complex, Mixed Use, Office/Apartments
Property TypeApartment Complex
RoofAsphalt Shingle
ServicesCable TV
SewerPublic Sewer
Standard StatusUnder Contract
StatusUnder Contract
Tax Annual Amount20230
Tax Assessed Value699400
Tax Lot14
Tax Year2023
Tenant PaysCable T.V., Electric, Gas, Heat, Hot Water, Water
Town #2339
TownshipWharton Boro
UtilitiesElectric, Gas-Natural
Year Built1900
ZoningMixed

Exterior for 354 S Main St

Building Area Total3301
Exterior DescriptionVinyl Siding
Lot Dimensions150X168 AV
Lot FeaturesLevel Lot, Possible Subdivision
Lot Size Acres0.57
Max Ceiling Height0
Max Door Height0
Number of Bays0
Number of Docks0
Total Parking15
Water SourcePublic Water

Additional Details

Price History

Charles Torres

Owner
Price $1,499,000
MLS#3976259
List Date 07/18/2025
Property Type Pending
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