Rare Sparta NJ Multifamily Opportunity
Sparta, NJ Multifamily - Fully Leased with Upside
Marketing description
224 Glen Road: a rare opportunity to acquire a fully occupied 5-unit multifamily property in Sparta Township, one of Northern New Jersey's most desirable residential communities. Situated on 1.95 acres, the property consists of two 2-bedroom units and three 1-bedroom units totaling approximately 5,473 square feet. The building benefits from a diverse unit mix, stable tenancy, ample parking, and a well-maintained setting.
Located just minutes from Lake Mohawk, Sparta's downtown amenities, shopping, dining, and recreation, the property offers tenants a lifestyle advantage that is difficult to replicate. Sparta continues to benefit from strong housing demand, highly rated schools, affluent demographics, and a limited supply of rental housing. With virtually no comparable multifamily inventory entering the market, 224 Glen Road represents a compelling opportunity to own a well-positioned apartment asset in one of Sussex County's strongest rental markets.
Investment highlights
- Rarity: The first five-unit multifamily to hit the Sparta submarket in years; fully leased, minimal deferred maintenance.
- Income upside: Current rents below market — straightforward lease renewals move the cap rate significantly, without a dollar of renovation needed.
- Market-proof demand: Sparta's school district ranking and Lake Mohawk lifestyle keep rental vacancy functionally at near-zero
- Unit mix: Five distinct floor plans ranging from 1 - to 2 bedrooms across various sizes; Idyllic setting on a large, set-back parcel with a total building size of 7,258 SF
- Turnkey: Positive cash flow on day of closing, with ample room to grow
Listing Contacts
Valuation Calculator
Valuation Metrics
Map
Zoning
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Additional Information
Is there information that looks off?
