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20 Morris Lake Rd, Sparta Twp., NJ 07871

$785,000
: 7
BD
: 6
BA

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List Price: $785,000
Status: ACTIVE
MLS#: 4044809
Price Change: ▲ $7,000 1787896902
Bedrooms: 7
Bathrooms: 6
County: Sussex
City: Sparta Twp.
Year Built: 1910

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Property Description

Prime Investment Opportunity: 20 Morris Lake Rd, Sparta, NJRare lakefront multifamily property featuring 7,800 sq. ft. of living space and direct privatelake and beach access. Listed at $778,000 (appraised as-is at $830,000), with a certifiedpost-completion appraisal of $1,315,000. Configured for 3 spacious luxury units (each 3 bed/ 2 bath with open-concept layout and laundry), delivering projected rents of$3,600"$4,200/month per unit and over $35,000 in net annual cash flow. Siding is 60%complete; requires HVAC, septic update, and interior finishes to complete. All supportingdocuments (survey, site plans, architectural/engineering drawings, tax assessments)available upon proof of funds. Cash or hard money buyers only.

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Additional Information

Exterior: Aluminum Siding, Vertical Siding, Vinyl Siding
Lot Description: Lake Front, Mountain View, Private Road
Basement: Yes
Garage: Attached Garage
Water: Well
Sewer: Septic
Fuel: Electric, Gas-Propane Leased, Oil Tank Above Ground - Outside