90 Chestnut St

Morristown Town, NJ 07960


 

Price: $1,600,000

GSMLS:  4036537
Type: Multi-Family
Style: 3-Three Story, Duplex-Side by Side
Total Units: 2
Beds: 8
Baths: 6 Full & 2 Half
Garage: 3-Car
Year Built: 2026
Acres: 0.67
Property Tax: $12,788
Description
A rare opportunity to acquire a newly reconstructed, fully leased side-by-side legal two-family in one of Morristown's most desirable and walkable neighborhoods. Sold subject to existing leases, this stabilized investment offers immediate rental income with minimal landlord responsibilities, as tenants pay their own gas and electric utilities.The property consists of a 5-bedroom, 3.5-bath residence and a 3-bedroom, 3.5-bath residence, each with private entrances, separate utilities, finished basements, top-floor laundry, and dedicated ground-level storage rooms with separate exterior access. A detached 3-car garage adds further value.Unlike many older multi-family properties in Morristown, this foundation-up reconstructed duplex offers modern construction, high-end finishes, high-efficiency HVAC systems, advanced ERV ventilation, enhanced insulation, and reduced near-term maintenance.Ideally located within walking distance of Morristown Green, Headquarters Plaza, Morristown Medical Center, NJ Transit, major employers, restaurants, shopping, and entertainment. A turnkey investment with immediate cash flow in one of Northern New Jersey's strongest and fastest-growing rental markets. Includes a two-year Home Protection Plan.
General Info
Style:
3-Three Story, Duplex-Side by Side
SqFt Building:
3,673
Total Rooms:
20
Basement:
Yes - Finished, French Drain, Full, Walkout
Interior:
Carbon Monoxide Detector, Smoke Detector, Tile Floors, Wood Floors
Roof:
Asphalt Shingle
Exterior:
Stucco, Vertical Siding, Vinyl Siding
Lot Size:
n/a
Lot Desc:
Backs to Park Land, Skyline View
Parking
Garage Capacity:
3-Car
Description:
Detached Garage
Parking:
On-Street Parking
Spaces Available:
n/a
Unit 1
Bedrooms:
3
Bathrooms:
4
Total Rooms:
9
Room Description:
Attic, Bedrooms, Eat-In Kitchen, Master Bedroom, Storage, Utility Room
Levels:
3
Square Foot:
n/a
Fireplaces:
n/a
Appliances:
Ceiling Fan(s), Dishwasher, Instant Hot Water, Kitchen Exhaust Fan, Microwave Oven, Range/Oven - Gas, Refrigerator, Stackable Washer/Dryer
Utilities:
Owner Pays Water, Tenant Pays Electric, Tenant Pays Gas, Tenant Pays Heat
Handicap:
No
Unit 2
Bedrooms:
5
Bathrooms:
4
Total Rooms:
11
Room Description:
Attic, Bedrooms, Eat-In Kitchen, Master Bedroom, Storage, Utility Room
Levels:
3
Square Foot:
n/a
Fireplaces:
n/a
Appliances:
Ceiling Fan(s), Dishwasher, Instant Hot Water, Kitchen Exhaust Fan, Microwave Oven, Range/Oven - Gas, Refrigerator, Stackable Washer/Dryer
Utilities:
Owner Pays Water, Tenant Pays Electric, Tenant Pays Gas, Tenant Pays Heat
Handicap:
No
Unit 3
Bedrooms:
n/a
Bathrooms:
n/a
Total Rooms:
n/a
Room Description:
n/a
Levels:
n/a
Square Foot:
n/a
Fireplaces:
n/a
Appliances:
n/a
Utilities:
n/a
Handicap:
n/a
Unit 4
Bedrooms:
n/a
Bathrooms:
n/a
Total Rooms:
n/a
Room Description:
n/a
Levels:
n/a
Square Foot:
n/a
Fireplaces:
n/a
Appliances:
n/a
Utilities:
n/a
Handicap:
n/a
Utilities
Heating:
4+ Units, Forced Hot Air, Heat Pump, Multi-Zone
Heating Fuel:
Electric
Cooling:
4+ Units, Central Air, Heatpump, Multi-Zone Cooling
Water Heater:
Gas
Water:
Public Water
Sewer:
Public Sewer
Utilities:
Electric, Gas-Natural
Services:
Cable TV Available, Fiber Optic Available, Garbage Included
School Information
Elementary:
Alexander Hamilton School (3-5)
Middle:
Frelinghuysen Middle School (6-8)
High School:
Morristown High School (9-12)
Community Information
County:
Morris
Town:
Morristown Town
Neighborhood:
n/a
Financial Considerations
List Price:
$1,600,000
Tax Amount:
$12,788
Land Assessment:
$336,300
Build. Assessment:
$390,300
Total Assessment:
$726,600
Tax Rate:
1.76
Tax Year:
2025
Listing Information
MLS ID:
4036537
List Date:
06-24-2026
Days On Market:
22
Listing Broker:
WEICHERT REALTORS
Listing Agent:
Evgeny Onishkevich
 

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Shawn and Diane Fox
RE/MAX American Dream
3108 Route 10 West
Denville, NJ 07834
Call: (973) 277-7853
Web: DrakesvilleCondos.com


RE/MAX

Town & Valley II

211 Route 10 East
Succasunna, NJ 07876
Office: (973) 598-1008


Shawn and Diane Fox