22 Sunset Ter 4 Unit Apartment Building $900,000 ($225,000/Unit) 10.56% Cap Rate Mount Arlington, NJ 07856

Overlooking scenic Lake Hopatcong – New Jersey’s largest lake – this legal four-family building offers a rare blend of immediate cash flow and future upside. Whether you’re an investor seeking strong returns or an owner-occupant looking to offset your mortgage with rental income, this property checks all the boxes. Currently generating approximately $95,000 in gross annual rent, it features a strong unit mix that ensures broad tenant appeal and stable occupancy. With simple interior upgrades, there’s potential to increase rents by an estimated $200–$300 per unit per month, significantly boosting overall income and property value.
Legal 4-Family & Versatile Unit Mix: A fully legal four-family property with a well-balanced mix of spacious units, maximizing rental demand. The expansive first-floor unit is ideal for an owner’s residence and even offers potential to be split into a 5th unit, creating an additional income stream down the line.
High Income & Value-Add Upside: Currently grossing ~$95K in annual rent with strong cash flow from day one. Significant upside exists through value-add renovations – modernizing interiors could command $200–$300 per unit rent premiums, elevating monthly income and substantially increasing the property’s equity.
Well-Maintained & Separately Metered: Pride of ownership is evident in this well-maintained building. Recent capital improvements (tankless water heating system, new retaining wall, newly paved driveway) mean major components have been updated, ensuring low maintenance for years to come. Each apartment has separate systems/utilities, which simplifies management and allows tenants to pay their own utilities – a big plus for maximizing net income.
Prime Location & Lifestyle: Situated in Mount Arlington, NJ, just minutes from I-80 and Route 46, the property offers quick access to major commuter routes. It’s a short stroll to Mount Arlington Beach on Lake Hopatcong and close to marinas, parks, shopping, and dining options – a fantastic lifestyle perk for tenants or an owner-occupant. Despite the tranquil lakefront setting, this location is exceptionally commuter-friendly (under an hour to Manhattan) with the borough providing easy access to highways and direct bus/train links to NYC. In short, the area’s recreational amenities and connectivity make it highly desirable for renters and residents alike.
Don’t miss this exceptional opportunity to own a lakeview multi-family gem that delivers both lifestyle enjoyment and lucrative investment returns. It’s the perfect choice for those looking to live in a beautiful lakeside community while tenants help pay the mortgage – or for savvy investors seeking a high-performing asset in a growth area. Opportunities like this are truly rare, so seize the chance to add this versatile, income-producing property to your portfolio (or make it your new home) before it’s gone.