BEDS8
BATHS6 full 2 partial
MLS#4058786
STATUS
PROPERTY TYPEMulti Unit - Multiple
Property Description
FULLY LEASED 7.84% GROSS RENTAL YIELD AT $1.6M ASKING PRICE! Exceptional opportunity to acquire a 2026 foundation-up reconstructed legal two-family in walkable Morristown. Unlike the typical older multifamily property, this side-by-side duplex combines immediate income from two long-term leases with the quality and efficiency of modern construction; tenants pay their own gas and electric. One residence offers 5 bedrooms and 3.5 baths, the other 3 bedrooms and 3.5 baths, each including finished lower-level living space with a bedroom and full bath. Both enjoy private entrances, separate utilities, upper-level laundry, contemporary kitchens with quartz countertops and generous islands, hardwood flooring, and beautifully tiled bathrooms. Extensive reconstruction includes new structural components, electrical, plumbing, high-efficiency HVAC, ERV ventilation, and enhanced insulation. A detached garage and three separately accessed storage rooms add functionality. Set on approximately two-thirds of an acre, just moments from Morristown Green, NJ Transit, restaurants, shopping, and major employers. A compelling combination of established income, modern construction, and long-term investment potential. Sold subject to existing leases.
Property Features
Property Type: Multi Unit - Multiple
Basement: Yes
Basement: Finished, French Drain, Full, Walkout
Cooling: 4+ Units, Central Air, Heatpump, Multi-Zone Coolin
Fuel Type: Electric
Garage: 3
Heating: 4+ Units, Forced Hot Air, Heat Pump, Multi-Zone
Lot Size: 0.67 Acres
Roof Type: Asphalt Shingle
Taxes: $12,788
Amenities
Carbon Monoxide Detector
Smoke Detector
Tile Floors
Wood Floors
Thermal Windows/Doors
Feature Descriptions
Days on Site: 4
Driveway: On-Street Parking
Exterior: Stucco, Vertical Siding, Vinyl Siding
Lot: Backs to Park Land, Skyline View
Lot Dimensions: 0.67 acre(s)
Parking Notes: Detached Garage
Sewer: Public Sewer
Utilities: Electric, Gas-Natural
Water: Public Water
Local Schools
High School: Morristown
Middle School: Frelghuysn
Elementary School: A.Hamilton
Listed By / Shown By
Listed By
Agency Name: WEICHERT REALTORS
Agency Contact: 201-898-4089
Shown By
Agency Title: RealtyMark
Agency Phone: 888-260-0040
Estimate Your Payment
Estimated Payment
$ 5,093.24 per month $3,560.91 Principal & Interest $1,065.67 Property Tax $466.67 Homeowner's InsuranceChange Payment Information
90 Chestnut St | MLS# 4058786
This multi-family property located at 90 Chestnut St, Morristown, NJ 07960 is currently listed for sale with an asking price of $1,600,000. Search Morristown real estate on www.realtymark.net today.