Share this with your friends
+19737380390
The Mountaintop Group
90 Chestnut St, Morristown Town, NJ 07960
- $1,600,000
- 8
- BD
- 6.2
- BA
- List Price
- $1,600,000
- Days on Market
- 1
- Status
- ACTIVE
- MLS#
- 4058786
- Bedrooms
- 8
- Bathrooms
- 6.2
- Full Baths
- 6
- Half Baths
- 2
- Lot Size (Acres)
- 0.67
- Year Built
- 2026
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.
Additional Information
- Area
- Morristown Town
- Basement Desc
- Finished, French Drain, Full, Walkout
- Utilities
- Electric, Gas-Natural
- Taxes
- $12,788
- Exterior
- Stucco, Vertical Siding, Vinyl Siding
- Lot Description
- Backs to Park Land, Skyline View
- Water
- Public Water
- Basement
- Yes
- Cooling
- 4+ Units, Central Air, Heatpump, Multi-Zone Cooling
- Interior
- Carbon Monoxide Detector, Smoke Detector, Tile Floors, Wood Floors
- Roof
- Asphalt Shingle
- Show Address
- Yes
Mortgage Calculator
Listing Courtesy Of WEICHERT REALTORS, Contact: 201-898-4089
The data displayed relating to real estate for sale comes in part from the IDX Program of Garden State Multiple Listing Service, L.L.C. Real estate listings held by other brokerage firms are marked as IDX Listing.
The information being provided is for the consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Information deemed reliable but not guaranteed.
Copyright 2026 Garden State Multiple Listing Service, L.L.C. All rights reserved.
Updated: