5-bedroom house for sale in Morris Park

2034 Colden Avenue - Newly Renovated Multi-Family | Owner-Occupant or Investment Opportunity Exceptional opportunity to own a fully renovated three-apartment property just one block from the train station. Ideal for an owner-occupant seeking rental income from the other residences or an investor seeking a renovated income-producing property. The property features hardwood floors, energy-efficient split heating and cooling systems, stainless steel appliances including dishwashers, and a stackable washer and dryer in every unit. The upper residences offer comfortable layouts, walk-in closets and one full bathroom in each unit. The first-floor residence features step-free, walk-in access and a yard. Residents are responsible for their individual utilities, including water usage. Cold water is separately submetered, allowing usage to be allocated to each residence and helping keep owner-paid operating expenses low. At the $1,150,000 asking price, the full-property rental pro forma projects monthly rents of $3,200 for the first floor and $3,000 for each upper apartment, totaling $9,200 per month or $110,400 annually. Listed annual operating expenses total approximately $10,341, including property taxes, estimated insurance, common electricity and submetering service fees. This results in projected net operating income of approximately $100,059 and a projected cap rate of 8.70%. With its renovated condition, in-unit laundry, individual climate control and convenient transportation access, 2034 Colden Avenue offers flexibility to live in one residence while collecting rent from the others or rent all three apartments as an investment.