BEDS5
BATHS3 full
MLS#4020360
STATUS
PROPERTY TYPEMulti Unit - Multiple
Property Description
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!
Property Features
Property Type: Multi Unit - Multiple
Basement: Yes
Basement: Bilco-Style Door
Fuel Type: Electric, Gas-Natural, See Remarks
Heating: 3 Units, Baseboard - Electric, Baseboard - Hotwate
Lot Size: 0.07 Acres
Roof Type: Asphalt Shingle
Taxes: $10,626
Year Built: 1912
Feature Descriptions
Days on Site: 4
Driveway: Off-Street Parking, Parking Lot-Shared
Exterior: Aluminum Siding
Lot Dimensions: 0.07 acre(s)
Sewer: Public Sewer
Utilities: Electric, Gas-Natural, See Remarks
Water: Public Water
Listed By / Shown By
Listed By
Agency Name: KELLER WILLIAMS PROSPERITY REALTY
Agency Contact: 973-696-0077
Shown By
Agency Title: RealtyMark
Agency Phone: 888-240-0600
Estimate Your Payment
Estimated Payment
$ 2,622.14 per month $1,535.42 Principal & Interest $885.50 Property Tax $201.22 Homeowner's InsuranceChange Payment Information
25 Kiel Ave | MLS# 4020360
This multi-family property located at 25 Kiel Ave, Butler, NJ 07405 is currently listed for sale with an asking price of $689,900. Search Butler real estate on www.realtymark.net today.