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25 Kiel Ave

butler, NJ 07405-1393

$719,900

  • 5 BR
    3 BA

Interested? Let's Connect

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!

Details

3,049.2 Sq Ft Lot Size

multi family

$886 Monthly Tax

Built in 1912

MLS/Listing ID 4031536

3 Units

Amenities & Features

Flat

Public Sewer

Public Water

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TOTAL MONTHLY COST

$0

  • PRINCIPAL & INTEREST

    $0

  • PROPERTY TAXES

    $0

  • Common Charges

    $0

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