281 S Main St, Wharton Boro, NJ 07885
Morris County
Key Facts
Description
High Income 6-Unit Investment Property with Garages in Downtown Wharton! This RARE 6-Unit, Multifamily building is a high-performing asset with serious upside. Fully rented and generating six figures in annual income, this property offers a strong return from day one. In one of morris county's most competitive rental markets, where vacancies are rare and rental rates remain top-tier. The building features a mix of 1 to 3 bedrooms units. Included are 6 private garages. A major perk, adding both convenience and extra income potential. For the Value-add Investor, the possibilities are endless: A massive stand-up attic is ready to be converted into additional living space. Full basement can be transformed into a laundry facility, tenant storage, or a shared community area. Large open lot with possibility for expansion. Positioned within walking distance of local restaurants, shops, and daily conveniences, and just minutes from top-rated Wharton schools!! This property is also close to major highways. Offering seamless access for commuters. 5 Newer water heaters installed in 2023! Newer Boiler installed in 2020. Whether you're expanding your portfolio or seeking a stable, income-producing asset in a growing downtown, this is a CANT-MISS OPPORTUNITY in Downtown Wharton. Please ask for 3 minute highlight video TO better see this GEM!!
Property Information
Property Type
Commercial Sale
Sub-Type
Multi Family
Stories
3
Lot Size
0.09 acres
Ownership
Fee Simple
Days on Market
295
MLS® Listing#
3980709
Property Features
Cooling
Heating
Basement
Lot Features
Construction
Roof
Security
Utilities
Sewer
Water Source
Financial Details
Annual Taxes
$19,973
Tax year 2024
Assessed Value
$720,000
Parcel Number
2339-01901-0000-00014-0000-
Directions
From Route 46 in Dover, Head west toward Wharton. Turn right on south Main Street. Building will be on right side. Directly across from laundromat.
Affordability Calculator
$380,000
Estimated monthly payment
$10,113/mo
Principal $1,520,000 · Est. interest $2,120,535 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Wharton Boro, NJ
- $657,197
- Median Listing Price
- 29
- Median Days on Market
- 2,240
- Median Sq Ft
- $340
- Median Price / Sq Ft
- 1,209
- Active Listings
- This home’s price is 189% above the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in Wharton Boro, NJ.
Location
Points of Interest in Wharton Boro, NJ
Showing the Wharton Boro area map.
Nearby Schools
MacKinnon Middle School
Secondary · 0.5 mi away
Marie V. Duffy Elementary School
Elementary · 0.5 mi away
North Dover Elementary School
Elementary · 1.1 mi away
Imagine and Learn Childcare Center
School · 1.2 mi away
El Primer Paso
School · 1.2 mi away
Academy Street Elementary School
Elementary · 1.2 mi away
Dover High School
Secondary · 1.2 mi away
Scared Heart School
School · 1.3 mi away
ABC Growing Tree
School · 1.3 mi away
Escuela Dominical Ipul Dover
School · 1.3 mi away
Canfield Avenue School
Elementary · 1.4 mi away
East Dover Elementary School
Elementary · 1.7 mi away
Dover Middle School
Secondary · 1.7 mi away
Fernbrook Elementary School
Elementary · 1.8 mi away
Regional Training Center
School · 2.0 mi away
CCM Campus Store
School · 2.0 mi away
Morris County Council of Education Associations (McCea)
School · 2.1 mi away
Randolph Country Day School
School · 2.1 mi away
Birchwood Elementary School
Elementary · 2.3 mi away
Dennis B O'Brien Elementary School
Elementary · 2.3 mi away
Commute Calculator
Nearby Homes
Similar Homes Nearby
Similar Home Values
Comparable nearby listings and their asking prices.
| Address | Price | Beds | Baths | Sq Ft |
|---|---|---|---|---|
| 9 Puddingstone Way, Florham Park Boro, NJ | $1,340,000 | 5 | 4 | — |
| 732 Mardinly Ave, Franklin Lakes Boro, NJ | $1,350,000 | 5 | 5 | — |
| 28 Oak Drive, Chatham Boro, NJ | $1,369,000 | 4 | 3 | — |
| 5 Voorhees Ct, Far Hills Boro, NJ | $1,389,999 | 3 | 3 | 2,625 |
| 91 Academy St, Califon Boro, NJ | $1,395,000 | 5 | 6 | — |
| 600 Chestnut St, Roselle Park Boro, NJ | $1,399,000 | — | — | 4,999 |
Moving Cost Estimate
EXIT Agents in Wharton Boro
Listing Courtesy: UNITED REAL ESTATE - 8885016953